by mousemouse  18/09/2015  127 Page Views
0 Comments  Self-managed super funds, superannuation, wealth management
Against my better judgement I did a foolish thing and agreed to a full personal registered mortgage over a property to a family member and they have done nothing but destroy the property basically making it unhabitable,They have completely disregarded the mortgage loan agreement with no payments received. I should have forced seizing the property but was promised time and time again that the matter would be resolved. They have not complied with Council and to make matters worse I have discovered there are two writs and a caveat on the property. The whole of the purchase price was loaned on the personal mortgage with no other dealings at the time of registration. The family member now wants to abandon the property. I am okay with that and hopefully can recoup the monies borrowed. I would be surprised if theselling price was more than what was paid and would be grateful if I can salvage the money outlaid. What steps do I need to take. Do I have to inform the parties that have lodged writs and a caveat to do so. I would be surprised if there is anything left to pay these people.