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Insolvency service charge on joint owned house
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tiggerbodhi
Posts: 415 Forumite
Hi,
Daughters father in law passed away recently and on getting a Land Registry print out of the jointly owned house it has been found to have a charge on from the insolvency service from 2008, how do we find out how much this charge is for? and if say it was for £50K in 2006, will it still be £50K now or have been accruing interest or charges?
Thanks!
Daughters father in law passed away recently and on getting a Land Registry print out of the jointly owned house it has been found to have a charge on from the insolvency service from 2008, how do we find out how much this charge is for? and if say it was for £50K in 2006, will it still be £50K now or have been accruing interest or charges?
Thanks!
every time I manage to get one more breath into this body, I will sing a song of thanks to you my brothers, my sisters, my friends, may your sleep be peaceful, and angels sing sweetly in your ears.
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Ask the Land Registry rep on the "charging order the myth" sticky post on debt free wannabee.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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The Insolvency Service only seek a charging order when there is less than £20k equity in the property and not worth selling to realise any cash. So it won’t be £50k. Interest will be accruing at 8% p/a1
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So the amount of the charging order in £'s will be whatever he went BR for? Then increasing at 8%pa since, assume the charging order stays in place until it is settled by sale of the property or othrr funds?Minkym00 said:The Insolvency Service only seek a charging order when there is less than £20k equity in the property and not worth selling to realise any cash. So it won’t be £50k. Interest will be accruing at 8% p/aevery time I manage to get one more breath into this body, I will sing a song of thanks to you my brothers, my sisters, my friends, may your sleep be peaceful, and angels sing sweetly in your ears.0 -
Thank you. You'll appreciate I've been on MSE a long time, when Friday night was a bash a bankrupt zone.Minkym00 said:The Insolvency Service only seek a charging order when there is less than £20k equity in the property and not worth selling to realise any cash. So it won’t be £50k. Interest will be accruing at 8% p/a
If I recall accurately, it was normal for the OR to offer the partner of those with joint tenancies the opportunity to buy out the OR's interest in the joint property for a sum not far off the bankrupt's share in the equity? Some could do it based on their own income and assets, some really could not and some managed to find funds with help from friends and family. Given the state of the housing market, many houses were valued at less than the purchase price or mortgage.
It doesn't appear that the widow here received that offer, although it may well have been made.If you've have not made a mistake, you've made nothing0
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