Charging Order? The myth

Sparkles69

Thanks, I understand that, but I don't think my wife would get a mortgage large enough, without my income. We now have enough information, I think to decide the best route to take for the family.
Thank you, Eggbox for all the advice & merry Christmas too!
Thanks, S69.

bonfire1966

Hi Eggbox.
Just wanted to give you an update regarding my situation.
Well I objected to the reinstatement of the restriction. Yesterday I received a letter from the land registry stating that they were unable to continue as they have requested clarification on some points that have been raised with creditors solicitor. In a nut shell they have given him until the middle of January to prove that the house has was never mine and that I have committed fraud. Lol. Well good luck with that one and if he proves it please can I have the £320000 back that I have just paid to the bank to clear the mortgage back as I could do with the cash. Forgive the sarcasm.
Any how merry Chritmas and happy new year to you and everyone else on this forum.

eggbox

Hi Bonfire,

Thanks for the update! So, I'm presuming you got the buyers cash through, then?

If so it sounds like the Solicitor concerned won't be a happy bunny this Xmas? Shame.

bonfire1966

eggbox wrote: »

Hi Bonfire,

Thanks for the update! So, I'm presuming you got the buyers cash through, then?

If so it sounds like the Solicitor concerned won't be a happy bunny this Xmas? Shame.

Yes you are correct. The house completed on the 1st and I received the funds a couple of days later.
The land registry sent me a copy of the letter that they have sent to the solicitor. They have put him right on all the rubbish he was saying to me including that the house should not have come automatically to me following my exs death. They have said that if they don't here from him with evidence proving wrong doing on my part that the case will be closed.
He certainly won't be a happy bunny but I know I will be this xmas. :beer:

eggbox

That's a good result!

DAKOTA45

bonfire1966 wrote: »

Yes you are correct. The house completed on the 1st and I received the funds a couple of days later.
The land registry sent me a copy of the letter that they have sent to the solicitor. They have put him right on all the rubbish he was saying to me including that the house should not have come automatically to me following my exs death. They have said that if they don't here from him with evidence proving wrong doing on my part that the case will be closed.
He certainly won't be a happy bunny but I know I will be this xmas. :beer:

Result! :j

D45

DAKOTA45

Dear All…
I just want to wish everyone a peaceful Christmas and a better New Year…
Especial thanks to Eggbox and Land Registry Representative for their invaluable advice at all times.
I'm sure I speak for everybody when I say that we are so very grateful for all the help and support we have received in our hour of need.
Good Luck everyone!
Dakota 45 x

SassySaver88

Hi guys

Its 4.30am here and cant sleep...
We are so close to exchange its unreal.
But a hiccup appeared yesterday we were not expecting...

Apparently there is a restriction on the property with a finance company....
Now our soictor said that she requested confirmation from the sellers solictor on 21st November that on completion the restriction would be paid and then dissolved, they would complete something called undertaking and the restriction would be removed.

That was 2 months ago.

Spoke to solictor yesterday who says that the sellers solictor is still waiting for a settlement figure...

We have to be out our house by 31st..

So my questions are...
How hard is it to get a restriction cleared in a house sale?
Where in the process is the asking for settlement figure?
And is there anything I can do because this is been outstanding for 2 months and I feel like we are getting no where.

Sellers are wanting to pay the debt on completion and our solictor says that she just needs confirmation from the finance company that thats ok
Surely thats just a letter?

Help needed...anyone

eggbox

For a Restriction to be removed from the deeds the terms of the Restriction have to be met. Most people who visit this site have a standard Form K Restriction registered on their deeds.

As is explained on this site, all that is required for a Standard Form K Restriction to be removed is for the BUYER (or their Solicitor) to notify the Restriction holder that the house is being sold and then provide proof of that notification to the Land Registry. That's it.

The transfer of the property, to the new buyers can proceed regardless of whether the creditor with the Restriction has been paid or not? This is because the Restriction will then become "overreached" and will autoatically be removed by the Land Registry.

The only time this would not be the case is if the Restriction has been modified (which is rare but check anyway) or if the house was being transferred rather than being sold for value.

Unfortunately, most Solicitors are woefully unaware of the difference between a charging order made against sole and jointly owned property (where a Restriction is registered)? So you may need to explain to them the above if it is only a Form K Registered?

DAKOTA45

Hmmm…. just wondering…. if you give the creditor notice of an impending sale but they don't go on to notify Land Registry of that notice… then what?

What I mean is; is it up to me to tell Land Registry that I've given notice to the creditor, or is it for the creditor to provide evidence to LR that they have been notified by me?

Feeling a bit confused today, but it could be the flu meds….
Regards, D45