Charging Order? The myth

eggbox

LRR has always said it's what's stated in the Restriction that's important. So, I'm assuming, you still notify the person still named on the restriction as it's not your fault, nor the LR's, if those details havent been updated by any new owner of the debt?

Hootin_Heck

thought so...thanks again eggbox

harisumo

eggbox wrote: »

Not the validity, but whoever has been sold the debt should've had the original CCJ reassigned to them by a court? If that hasn't been done they have no legal right to enforce the CCJ or subsequent CO

Why would they not bother to have the original CCJ and subsequent restriction reassigned to themselves Eggbox? I've posted on here before re my Northern Rock loan which was sold to Marlin, it's been quiet for a long time now after after much harassment from Marlin. But a recent check of our land registry deeds the restriction is still in favour of Northern Rock, we're hoping to sell next year and can see that this would complicate matters even more.

Hootin_Heck

ok...good news me thinks...
Called the Court and the CCJ is still with the original creditor, no variance since it was first put in place.

So the question now is, can it be removed from the LR file if the company to whom the debt was sold on technically have no claim on the property? (they have claim over the debt, and keep offering discounts for F&F payments)

eggbox

harisumo wrote: »

Why would they not bother to have the original CCJ and subsequent restriction reassigned to themselves Eggbox?

I, honestly, can't answer that? It could be they feel they don't have to as any payment made to NR would, automatically, come to them? Or it may just be an oversight on their part in attending to the paperwork required? Ultimately, only they know, however?

eggbox

Hootin_Heck wrote: »

ok...good news me thinks...
Called the Court and the CCJ is still with the original creditor, no variance since it was first put in place.

So the question now is, can it be removed from the LR file if the company to whom the debt was sold on technically have no claim on the property? (they have claim over the debt, and keep offering discounts for F&F payments)

The simple answer is no as they still have a legal judgement in place which is still valid (any commercial sale of the debt does not affect this?) However,...........

LRR has explained that if an application is made to remove a Restriction then the LRare obliged to contact the Restrictioner to give them the opportunity to object to the restrictions removal? I believe he also said there was a time limit for the LR to receive the objection, too?

Therefore, if the OC no longer owns the debt they may just not bother to respond? In which case (unless LRR corrects me) the LR can remove the Restriction?

Land_Registry

eggbox wrote: »

The simple answer is no as they still have a legal judgement in place which is still valid (any commercial sale of the debt does not affect this?) However,...........

LRR has explained that if an application is made to remove a Restriction then the LRare obliged to contact the Restrictioner to give them the opportunity to object to the restrictions removal? I believe he also said there was a time limit for the LR to receive the objection, too?

Therefore, if the OC no longer owns the debt they may just not bother to respond? In which case (unless LRR corrects me) the LR can remove the Restriction?

Have a look back at pages 156-158 of this thread where the process of application/cancellation/notice and objection were covered previously - I think they cover

DAKOTA45

Hootin_Heck wrote: »

understood... and very appreciative of the advice.

Our litigation member of the solicitors called us and clearly has no idea what he is talking about so having to look elsewhere now... the buyers are getting a bit restless as their solicitor is ready to go

I keep hearing about 'escrow' services, but am not sure how it would work with charging orders...

https://www.investopedia.com/terms/e/escrow.asp

D45

DAKOTA45

Hootin_Heck wrote: »

ok...good news me thinks...
Called the Court and the CCJ is still with the original creditor, no variance since it was first put in place.

So the question now is, can it be removed from the LR file if the company to whom the debt was sold on technically have no claim on the property? (they have claim over the debt, and keep offering discounts for F&F payments)

Can't you just ask the original creditor to remove the charge…? Or get a form and do it yourself… or is that too simplistic?

D45

eggbox

DAKOTA45 wrote: »

I keep hearing about 'escrow' services, but am not sure how it would work with charging orders...

https://www.investopedia.com/terms/e/escrow.asp

D45

It's a viable option should the buyers need re-assurance the Restriction will be removed on sale. However, the cheaper option is to do what Brightonian did and just request the buyers solicitor hold onto the funds that equate to the charging order amount until the restriction was shown to be removed.