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Charge on Property
GillyFlower
Posts: 160 Forumite
Thank you for your thoughts. I have deleted this post because I am not explaining it very well and it is best we visit a solicitor together.
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Comments
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I'm not quite sure I understand what you are saying; are you saying that once the house is sold and the 1st mortgagee and your charge have been paid off there will be money left over?
If that's right, he can deal with the funds left over as he sees fit. Is there anyone else with any interest in the property or any potential claim on it other than the 1st mortgagee and you?0 -
The way I interpret this is that there is an element of distrust between you and your son.
As Seabright says above, once the house is sold and 1st mortgage paid off, your son could simply give you the surplus.
However, if you do not fully trust him to do this, then yes, you could alter the charge in such a way that he has to pay any surplus to you.0
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