Statute of Limitations 1957

Limitation of actions to recover principal money secured by a charge on land or personal property.

36

36.— (1) ( a) No action shall be brought to recover any principal sum of money secured by a mortgage or charge on land or personal property (other than a ship) after the expiration of twelve years from the date when the right to receive the money accrued.

( b) In its application to—

(i) a mortgage, interest on which is payable into the Church Temporalities Fund, or

(ii) a charge on land under section 31 of the Land Law (Ireland) Act, 1881, or

(iii) a charge on land under the Housing (Gaeltacht) Acts, 1929 and 1934,

paragraph ( a) of this subsection shall have effect as if for the words “twelve years” there were substituted “ thirty years”.

(2) The right to receive any principal sum of money secured by a mortgage or other charge shall, for the purposes of this section, be deemed not to accrue so long as the property subject to the mortgage or charge comprises any future interest or any life insurance policy which has not matured or been determined.

Annotations:

Modifications (not altering text):

C23

Application of section restricted by Taxes Consolidation Act 1997 (39/1997), s. 477C(20)(e), as inserted (1.01.2017) by Finance Act 2016 (18/2016), s. 9, commenced as per s. 59(8).

Help to Buy ...

(20) ...

(d) Any liability to pay an amount to which paragraph (a) applies, including any interest thereon, which is due and unpaid by a qualifying contractor under this section shall be and remain a charge on the freehold or leasehold estate or interest in the land on which the qualifying residence was to be constructed, where the contractor retains such estate or interest in the land.

(e) Notwithstanding section 36 of the Statute of Limitations 1957, the charge referred to in paragraph (d) shall continue to apply, without limit as to time, until such time as it is paid in full.

...

C24

Application of section restricted (1.01.2013) by Finance (Local Property Tax) Act 2012 (52/2012), s. 124, S.I. No. 589 of 2012, art. 2.

No time limit on charge.

124.— Notwithstanding section 36 of the Statute of Limitations 1957, the charge referred to in section 123 shall continue to apply without a time limit until such time as it is paid in full.