Charging Order? The myth

eggbox

The Judge would only be able to transfer your husbands equity if the IVA restriction didn't take priority over the transfer of his funds? I would have to say it, probably, wouldn't as it would be a, too easy, route for debtors to escape the IVA terms by, falsely, arranging to divorce?

But, as I said, I'm no expert so it may be better to chat to a company that arranges IVA's as they may be able to clarify what the Judge, legally, is able to transfer from your husband?

StevenM1990

The name of the person on the charge is an old supervisor of an old Iva company that went bankrupt.

I don’t believe they have control of his equity as the Iva states if you can’t remortgage to release equity an extra year in the Iva will be done instead I have attempted to contact the Iva company but they were useless and unhelpful

eggbox

Hopfully, LRR may be able to shed light on, whether or not, removing the Restriction is possible given the IVA company has gone bust?

hayz347

eggbox wrote: »

Then you should be home and dry? However, just a word of caution in case, either, solicitor is not up to speed on the limitations of a Form K Restriction?

Should the Restriction actually appear on the deeds before the new owner is registered; you need to be ready to explain that it will fall away, anyway, upon registration of the new owner as it will be overreached.

But it will be a big help if you could come back here when everything sorted and confirm everything went okay?

eggbox - Just wanted to let you know we moved on Friday. The CO did not show on the final search which I presume was done. Thank you once again for everything and for providing me with a back up plan. Take Care

eggbox

That's great!

Thank you for taking the time to update other members on your issue as someone, somewhere, will benefit form your experience!

martini3804

Land Registry, I was trying to send you a PM, but it looks like your account cant receive them. Any chance you could send me a message so that I can reply to you.


Thanks

Land_Registry

eggbox wrote: »

Hopfully, LRR may be able to shed light on, whether or not, removing the Restriction is possible given the IVA company has gone bust?

The wording of the restriction seems clear cut in that you need Mr *'s consent.

It does not state 'Except under and order of the court' at the start so that most likely means a court order re the sale/Transfer would not override it.

When the restriction was registered you will most likely have been sent notification of it to the contact address on the register against your name(s). The fact that now, some years later, you might claim nothing was received would make no difference now.

The OP states that I don’t believe they have control of his equity as the Iva states if you can’t remortgage to release equity an extra year in the Iva will be done instead - we also don;t deal with IVAs directly but IF you are claiming that the interest protected by the restriction is no more then I would suggest applying to cancel it using form RX3 and submitting supporting evidence to back up it's cancellation.

Section 3 of our PG on Personal Insolvency may also be of assistance

I imagine if that evidence is sound then the judge would bear that in mind when ordering what happens next re the property but any transfer from joint to a sole name would not remove the restriction

StevenM1990

Thanks for the reply land registry.

If the judge ordered the husbands equity to me would that be sufficient evidence to provide in your rx4 form to remove the restriction as the person the restriction is against no longer has any equity for the restriction to be tied to?

Land_Registry

martini3804 wrote: »

Land Registry, I was trying to send you a PM, but it looks like your account cant receive them. Any chance you could send me a message so that I can reply to you.

Thanks

I'm afraid not. MSE restrict such messaging for us as a Company Rep I assume.
If you don;t wish to post here then I suggest you use our online contact form and our support team can consider and reply by email

Land_Registry

StevenM1990 wrote: »

Thanks for the reply land registry.

If the judge ordered the husbands equity to me would that be sufficient evidence to provide in your rx4 form to remove the restriction as the person the restriction is against no longer has any equity for the restriction to be tied to?

We can't answer that for you as it is legal advice you need as to whether the protected interest still exists and/or whether the judge's order causes it to lose any legal standing.

We would only consider your application once submitted and cannot advise you whether it would be successful or not in such circumstances