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Charge on house
aproblemshared
Posts: 122 Forumite
Hi
Need some advice, my husband has a charge on his former matrimonial home. How long does the OR retain his interest in that charge which has been registered at land registry. I thought if the assets could not be realised before discharge then the OR interest in relinquished and he has no further interest. Can anyone tell me the rules in this please....
TIA
Need some advice, my husband has a charge on his former matrimonial home. How long does the OR retain his interest in that charge which has been registered at land registry. I thought if the assets could not be realised before discharge then the OR interest in relinquished and he has no further interest. Can anyone tell me the rules in this please....
TIA
Of all the things I have lost I miss my mind the most
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a few more details required, who is bankrupt, how much is the charge, how did it originate etcHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
My husband is bankrupt. The charge is his share of his former matrimonial home that was awarded to him when he divorced his wife 13 years ago. It has not been "cashed in" as they have a child still in full time education. The charge is a percentage is the value of the property his ex wife is due to but him out within the next year or so. He was made bankrupt in 2008and discharged in 2009.Of all the things I have lost I miss my mind the most0
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Btw he declared ownership of legal charge on bankruptcy forms so now OR has an interest in his charge at land registry. Value of the charge is about 68k.
Husband has not paid any money to OR under payment plan as he lost his job just after it was made, is now self employed and has not been reassessed yet.Of all the things I have lost I miss my mind the most0 -
Lorum ipsum0
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Can I have that in laymens terms pleaseOf all the things I have lost I miss my mind the most0
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Is that why he has not been reassessed then because the charge will cover any amount owed to OR? Is ge likely to get anything from the charge or will OR take all of it?Of all the things I have lost I miss my mind the most0
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Lorum ipsum0
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Ok so let's say the value 3 years ago was 40k now it's 68k hybby gets the difference? Who told the OR the value of the property 3 years ago and so how was his amount fixed? Sorry for being a pleb but I don't get it. Who knows the values as u am not aware of a valuation bein carried out in the property.
This is not my house so when you say a shared charge do you mean shared between hubby and OR or hubby and ex wife?Of all the things I have lost I miss my mind the most0 -
Lorum ipsum0
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The charge was applied to the house by OR immediately after bankruptcyOf all the things I have lost I miss my mind the most0
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