Charging Order? The myth

Sparklyfairy

Hi Dawny. Firstly, if you were in the Midlands, I'd invite you around for a cuppa & a chat (and hug x).

Ok, the form RX4 is a form from the Land Registry & is what your solicitor (or YOU) must fill in to relieve your property from the Restriction. Not your buyer's solicitor but YOU or your solicitor. You may need your solicitor on hand to help fill in the details if you decide to do this bit yourself (which wouldn't be unreasonable) but we really need you to drag out your restriction paperwork from the LR & list what is written on it - if it's exactly what the form K, you must only give NR notice (i.e. write them a letter a week after sale saying "Hello NR! House is now SOLD!") & fill in the RX4 & supply that form & a copy of the letter to LR, complete. Let's hope it's a standard form k...

Also, as NR are being complete BAST$£%S (as per bluback's original thread from this post...) I would consider taking up eggbox's advice re: the quick sell of your house & make a call to them regarding your situation. You never know, they may offer advice from others in this situation. Personally I'd definitely begrudge giving ANY equity to a bank...but that's just me. However, it COULD stop NR from trying to persue again from your ex & dependent on your relationship with him/her, that's entirely up to you )

I do have to admit that your situation isn't the norm as normally a restriction will take the equity from the other owner's share, so it's really a new take on the whole thing & something I'm unfamiliar with tbh. I believe your request to require part of your ex's share (albiet rightly requested in my eyes) is what's hampering your completition imo as the law HAS NOT caught up with those left to pick up the pieces of a relationship break down & you've had to steal from Peter to pay Paul to keep the house - basically I want you to leave this situation with SOMETHING rather then NOTHING & although you are spot on to fight your corner for your share, is it right you could leave with less? I'm not so sure & before I say concretely my opinion, we really need more info. XX

dawnyp64

eggbox...myself and my daughter were left with the mortgage AND rent to pay (renting whilst trying to sell the house),when he walked,basically...so had arrears til we came back to the house and i got a job here.,iv been paying a bit on top of the mortgage to bring it down,but theres still some left..mortgage co have been very good tho
Sparklyfairy...aaaw,thanks for the offer of a cuppa and hugs and I AM in the Midlands!!lol..if i do good after all this id invite you all for a pint!!!lol..
the restriction is just on my partners share..they cant touch mine,even tho i was advised by my solicitor ALL the equity would be neeeded for the restriction to be removed leaving negative equity..that was until i gave him all the info i was given on here!!..then he backtracked!!..its still a mess tho
oh and NR will just sit back and wait for payment,which the ex is quite happy to do..but wont give a forwarding address to them..that could be another spanner in the works!!Also theres no word as to this being sufficient to remeove the restriction..it just goes on and on...

eggbox

Dawny

Sorry to press, but not sure from your answer how repossession will occur? Being in arrears won't cause that if you are still paying your mortgage (but do stop paying extra for now as you are topping up your ex's share of the equity!)

NR also have zero chance of forcing a sale as you have children at home so, unless there is another factor, don't heap pressure on yourself by thinking repossesion is imminent.

I would have one last crack at NR through your Solicitor, who owes you big time for giving dodgy information on giving up your share of the equity (and you need to subtly point that out), pointing out that if the sale DOESN'T go through you will be making a legal claim to alter the share of equity held in the property (based on who is paying the mortgage, bills etc) which will eventually wipe out any BI your ex has.

If they don't agree to that, and the sale does sadly fall through, at least you can actually get on and sort that out.

dawnyp64

we (well me) had been taken to court due to the arrears but had agreed that we(i) pay so much on top of the mortgage,which i have done..although ive stopped paying the mortgage due to selling the house and now paying rent,the mortgage company wont repossess the house at this stage as the sale,in theory is going through.
Question for you Eggbox..can i try that with NR?my ex has already disagreed with my suggestion he has £3500 ,seeing as ive paid the mortgage the majority of the 4 years since we split up.
i wish i could go to court (especially with reference to what you state re paying the mortgage,bills etc)
However,the majority of the advice ive had is to bite the bullet and agree to his demand of no less than 50% otherwise i WILL lose the sale.I kmow what i want to do...but time/circumstance wont allow it..

Also... anymore on the RX4??

dawnyp64

just seen this,which i suppose is what has been said all along..
Consent of chargee needed to transfer - Form P

"No disposition /COLOR][I][COLOR=#231f20]or specify details[/COLOR][/I][/FONT][FONT=Arial][COLOR=#231f20 of the registered estate [(other than a charge)] by the proprietor of the registered estate [or by the proprietor of any registered charge] is to be registered without a written consent signed by the proprietor for the time being of the charge dated /COLOR][I][COLOR=#231f20]date[/COLOR][/I][/FONT][FONT=Arial][COLOR=#231f20 in favour of /COLOR][I][COLOR=#231f20]chargee[/COLOR][/I][/FONT][FONT=Arial][COLOR=#231f20 referred to in the charges register [(or his conveyancer or specify appropriate details)] or, if appropriate, signed on such proprietor's behalf by [its secretary or conveyancer or specify appropriate details]."
This restriction will often appear where there is a charge on the property and it prevents any transfer being registered without the consent of the proprietor of the charge. Consent need not be obtained however when the mortgage is being repaid on completion (which would practically always be the case) because the restriction will automatically be removed along with the charge.
also..

Restrictions

What is a Restriction?

A restriction is an entry made in the Proprietorship register of the title to freehold property, which restricts what dispositions (sales, mortgages, gifts etc) can be registered against the title. It is registered using form RX1 and removed with form RX4. A restriction can be used to protect any number of interests, and there are many standard forms. The full list can be found in Land Registry Practice Guide 19 at section 10. We will discuss the more common forms of restriction below

need to look into this!! ..

Sparklyfairy

Dawny, is that what type of charge you have? A form P? As I stated above, this type of Restriction WILL have to have NR's approval before the new owners can register the house in their name. Again, the form RX4 (link above) requires either you or your solicitor to complete it along with proof that NR have agreed the Restriction has been satisfied. BUT, seeing as only your ex's half of the equity will be used (& he has agreed to this) I don't see there being a problem to NR being satisfied that the restriction has been repaid & it can then be taken off the LR register.

Again, this type of restriction isn't what this thread is about, unfortunately. I also don't think you'll have a chance to change things to allow you to benefit from receiving more of your ex's share before your sale falls through. I'm in Worcs, you near by? x

eggbox

Dawny

Just so we aren't confused, do you definetely have a Form P Restriction registered against the property as well as a Form K as Form P is usually put on by your mortgage lender (or a person who has a charge on the property)?

Can I just ask you to clarify what you are asking regarding NR too please?

dawnyp64

lol..to be fair...i saw this just before i left the house (i was looking into RX4s...so SORRY if ive confused the issue!!..
No..its just Form K..NR applying to have the restriction put on due to non-payment of the ex's sole debt.
And just to be clear..the ex has asked for 50% of the equity,roughly 5500..the debt is for £14000..will NR be satisfied to recieve this amount?? not so sure..

Sparklyfairy

Ok, they are entitled to HIS half of the equity. Whatever that might be. If his total debt is £14,000 & his half of the equity is only £5,500 - all NR will get is £5,500. So as it's a form K restriction, you DON'T need their written consent to comply with the RX4.

So, to clarify, the Restriction is with NR & your mortgage is also with NR? Or did I misunderstand that bit?

dawnyp64

sorry Sparklyfairy,no ..only the debt is with NR...
oh and im in Wolverhampton!lol..