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Charging order against a house
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Lishah said:user1977 said:Lishah said:Postik said:Out of interest, what difference would it make if there was a charging order against it? I assume when the house is sold the charge is settled.
Is there a reason why you're asking?
That caused us a two week delay, a lot of stress and extra chaps fees.1 -
Lishah said:user1977 said:Lishah said:Postik said:Out of interest, what difference would it make if there was a charging order against it? I assume when the house is sold the charge is settled.
Is there a reason why you're asking?
He'll get a 'solicitors undertaking' from the seller's solicitor that it will be paid off/removed using the sale funds.
Perfectly normal and happens with the 85% of property sales that have a mortgage against them.
A solicitor who reneged on such an undertaking would likely get struck off.2 -
Yes solicitors undertakings are legally binding so as with a mortgage (which is a legal charge!) the sellers solicitors / conveyancers will get a redemption statement for them origination with the benefit of the charge and then will arrange to pay it off as they would with a standard mortgage.
IT can cause delays - for instance if the charge is very old and the company in whose favour it is can't be traced , or if there were to be any dispute over how much was owing.
AS a previous poster said, you can download a copy of the title from the land registry for £3 if you want to check before you put an offer im, but your conveyancer will check itAll posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)1
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