Charging Order? The myth

eggbox

https://forums.moneysavingexpert.com/discussion/comment/81957476#Comment_81957476

You're largely right but for other people reading this; it should be understood that a creditor with a Charging Order does have the right to apply for an Order for Sale on, either, a solely owned or jointly owned property.

Any agreement from the non debtor who jointly owns the property is not required as the Law gives them no say on this matter.

However, it should also be understood that Orders for Sale are rarely sought by creditors (especially for consumer debts) as they know its virtually impossible to get a Judge to grant them as they are almost always family homes.

tksnota

I this scenario Partner 1: Has CCJs; Partner 2: Has No CCJ; Both owned a mortgage property; currently have Form K restrictions

Question 1. What is an equitable restriction? Is it enforceable when the property has no mortgage and both Partner 1 & Partner 2 owned the property? Will they need to get paid before or after acquiring the property? Will they need to be paid when selling the property?

Question 2. If the mortgage property has been fully paid, can the Form K restrictions be converted to equitable?

Question 3. If Partner 2 just owned the new mortgage free property under his/her name and Partner 1 lived there and used it for all his/her correspondences, will any restrictions be applied?

Question 4. Aside from equitable restriction, will the there any other or different ones be applied for co-owned property without any mortgage?

Thanks…tksnota…