MORTGAGEES
COMPULSORY SALE OF PROPERTY, DECIDED BY THE DIRECTOR
Who it concerns:
Any mortgagee may initiate the procedure of sale of the mortgaged property to recover the
mortgage debt upon filing an application for the sale of such property if one month after the date
agreed for the satisfaction of the debt secured by the mortgage, the mortgagor makes default of
payment and fails to comply with the terms of the contract of mortgage.
Required Documents / Conditions / Samples:
- Application Ν.276 which includes the Affidavit. The Affidavit should state the full address of the debtor and that the mortgage debt or a specific part of it remains unpaid, and the following documents should be attached thereto:
- A copy of the Notice on Form Ν.275 (the notice should be signed and served by double registered letter or by personal service in the presence of a qualified witness or by a court bailiff on behalf of the mortgagor to the mortgagee)
- Copy of the statement of account
- Proof of service, that is: advice of receipt from post, if served by a double registered letter, or an affidavit of the person who made the service, that is the person sent by the mortgagor or the court bailiff whichever the case may be, and
- Certificate of Registration of the Mortgage
- The application is required to be submitted to any District Lands Office no later than seven (7) days from the date of the affidavit.
How to submit:
Acceptance of the application can be made at any District Lands Office and it is forwarded to the District Lands Office where the property is located
Fees / Charges:
| FEES |
|---|
| a) €20.00 For acceptance of the Application |
| b) €100.00 Valuation fees for each plot involved |
| c) €20.00 For local enquiry |
| d) €10.00 For each property involved |
Note:
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