The home of missing solicitor Michael Lynn and his wife Brid Murphy in Sandymount in Dublin is to be sold after agreement was reached at the Commercial Court with Ms Murphy and two banks that the sale should proceed.
It is one of five properties of Mr Lynn's to be sold following an order issued by the court today.
The court has given three parties who have all made claims to the property at St Alban's Park one week to agree how it should be sold, before a court hearing will be held to determine who is entitled to the proceeds of the sale.
The parties are Bank of Scotland Ireland, Ulster Bank and Brid Murphy. The court heard Ms Murphy no longer lives in the house but visits it on a regular basis.
Bank of Scotland Ireland claims it advanced a €1.2m loan on the house.
Dealing with an application by BoSI for orders relating to five properties in Dublin and Leitrim for which the bank advanced loans to Mr Lynn, including the one at St Alban's Park, the court ruled steps could be taken to initiate the sale of four of the five.
These include two properties in Blanchardstown at Greenbriar, Verdemont and The Rise, Main Street.
The third is at Bonnett River Apts, Dromahair, Co Leitrim and the fourth at Avondale, Main Street, Lahinch, Co Clare.
There is currently in excess of €750,000 in outstanding loans plus interest owed to BoSI on the four properties.
All proceeds from the sale of the Dromahair property are expected to go to BoSI as well as the majority of money raised from sale of the other properties.
Permanent TSB is expected to get a smaller share as a result of the sales.
