Removing a secured debt from land registry

bluejulie

Thanks for your response! What are my options then?

fatbelly

Was it a charging order following a ccj?

Is it now showing as a Form K restriction? (op says it's a charge)

If so then that's what the Charging Order Myth thread is all about isn't it?

When the op sells the property the debt reverts to being an unsecured debt in the original debtor's name, providing you can find a solicitor that understands this.

bluejulie

What is the name of the person who usually gives advice on the thread -Charging Order? The myth?
(the Land Registry Representative)

sourcrates

bluejulie wrote: »

What is the name of the person who usually gives advice on the thread -Charging Order? The myth?
(the Land Registry Representative)

If you look through the thread it will tell you :

https://forums.moneysavingexpert.com/discussion/1839539

bluejulie

Thanks .......

Spatton

bluejulie wrote: »

I know it should have been removed but the judge only said the solicitors should be able to deal with it. I had a useless solicitor who charged me app £1000 to be told I have to pay it.

Something else to consider is that you *might* want to undertake a 'Solicitor Own Client' assessment if you feel very strongly that you have been a) given poor or incorrect advice (NB this is not the same as advice you don't like, I mean genuinely negligent), and/or b) grossly overcharged (everyone please try not to laugh). I say *might* because it's not a straightforward process, it costs you money and time to do it, and unsurprisingly lawyers absolutely loathe being challenged and invariably get pretty nasty. But you can, in some circumstances, get your money back if you can prove they gave you the wrong advice.

FBaby

All a debtor does, when relinquishing their interest a property, is transfer their share of the property over to the other joint owner. If that share happens to have a CO registered against it then that part won't be affected by a transfer.

My understanding from the thread was that in this situation, the creditor couldn't act on the restriction any longer as they couldn't demand repayment from capital that doesn't belong to the debtor any longer. This meant that it was possible to request that the restriction be removed from the land registry, although if I recall, there was a mention of whether the transfer from the debtor to the other owner was at value, ie deemed a commercial arrangement?

eggbox

When a property sale happens, by joint owners selling to a third party, "overreaching" takes place and will remove any Form K Restriction from the property deeds. "Overreaching" does not occur, however, when one joint owner only transfers his share of the property to the other joint owner.

Whilst the debtor has transferred his share of the equity, there was a Charging Order attached to the equity share which is remaining in the property as no sale is occurring.

So the Restriction will remain as it still has priority on the deeds register.