Charging Order? The myth

winner12

Thanks for all the comments lets hope it never comes to this but rest assured i will play them at their own game along as I know in advance posts like these are really helpful and an inspiration to newbies and all others at what ever stage they are at with their debts

rose28454

I posted last night what I had read on the copy of my own Land Registry listing and wonder where the 14 days comes from. It does not say that on my details

Sparklyfairy

Good point. I read the OP's post (#25) and he said they need 14 days notice. I just re-read this link http://www.bllaw.co.uk/pdf/financeandrecoveries_0806_charging%20orders%20on%20property.pdf & it appears that Restrictions prior to 2003 had to have 14 days notice, but now they don't have to it appears..

"

The effect of the restriction

The debtor and his joint owner’s freedom
to sell the property is not affected by
such a restriction. They could sell the
property as if there was no charging
order against the debtor. All that was
required was that the new buyers or
their solicitor write to the creditor
informing them that they now owned
the property and then confirm to the
Land Registry that they had given that
notice. Then the buyers could register
the property with no further complications.
The creditor, who is sitting back,
waiting to get paid, instead just receives
a letter confirming that a sale has already
taken place, typically a week or two after
the sale so there is little they can do to
get the debt paid."

That was written in Aug 2006, so I'm not sure if this is the most up to date info..if someone can please confirm, that would be great.

Sparklyfairy

I have been looking for confirmation of the 14 day notice to creditor for impending sale on the Land Registry website, but Rose you are quite right - there doesn't seem to be one! I found this :

No disposition of the registered estate is to be registered without a certificate signed by the applicant for registration or his conveyancer that written notice of the disposition was given to [name of person with the benefit of the charging order] at [address for service], being the person with the benefit of [an interim] [a final] charging order on the beneficial interest of (name of judgment debtor) made by the (name of court) on (date) (Court reference.…).

which is exactly what you wrote the other day which confirms that it could be sent the day of sale. I have found more info on the CAG forums where people have had success.

NowI wish the OP came back on here to explain where he got that "14 day" thing from!

podperson

Hmm it does seem to say that the new owner or their solicitor needs to inform the creditor. I'm in the process of voluntarily surrendering my property with a charging restriction on it and was just going to write to the creditor myself to inform them when it was sorted.

GIRLPOWER_2

Sparklyfairy wrote: »

Because they CAN collect the debt within the 14 days before you move - which is NOT impossible although difficult & they may not know that the house is jointly owned before they start court proceedings. It's a risk they're willing to take, I suppose.

If they are informed of the sale 14 days prior what action could they take in this time?

Great thread, thanks for all the tips so far.

Nikki

blueback

Northern Rock settled on my illegal and unenforcable charging order

I hope many others have taken them and others to task

podperson

Am in the process of thanks to this thread so many thanks

blueback

Thats the point. They do have to be informed but they can be informed at any point up to a week before the sale.

They are unlikely to have the time to get a court order to enforce payment of the charge.

In our case the letter to Northern Rock informing them of the sale of the property was still in someones in tray a week after we sold!

Diana_Prince

Quick question! If the house is owned as "tenants in common" and there are CO's on the property in the name of person A, and person A passes away, what happens??