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Sells Property Before I Could Get A Charging Order
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He claims to have "LPA's" on several of his properties. What exactly does this mean? And do LPA's show up on Title Deeds if I looked at the Property Register?0
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BijouDrains wrote: »He claims to have "LPA's" on several of his properties. What exactly does this mean? And do LPA's show up on Title Deeds if I looked at the Property Register?
Law of Property Act receivers.
Generally when someone has defaulted on a mortgage, the lender may not want to take over the property themselves (if for example it is rented and the lender doesn't want to become the landlord), so they appoint LPAs instead. They are generally appointed by the lender when people have defaulted on their mortgage.
Their objective is to get back the money owed on behalf of the lender.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Do LPA's show up on Title Deeds if I looked at the Property Register?0
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