Republic of Ireland Law
Republic of Ireland Law Questions Answered by Experts
1. The danger here is if you are made bankrupt. Conveyances of property to trusts can be set aside if the person conveyancing the property goes bankrupt within 5 years. So here, your danger is that if you go bankrupt, these conveyances can be set aside. Secondly, if the mortgage holder forecloses on the mortgage, then the courts can repossess the property. It makes no difference that the property might be owned by a trust. IN the courts, a trust will not be treated any differently than an ordinary person who owes money on a mortgage. So you need to be in a position to keep paying the mortgage.