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A guide to Charging Orders & Orders for Sale


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Thanks. There was an article on here (from a DCA i think) which made the point that a restriction (following a charging order) on a joint property is totally useless for a creditor because the sellers can inform and then sell, thus fulfilling their obligation to inform only.

 

If the judgment is against just one person then there can be no equitable charge placed on the property. All the creditor can do is register a restriction, but that still doesn't give them any priorty. All the conveyancer has to do is let the restriction holder know ONCE the house has been sold - so that they can try and chase for payment at that point.

 

It's good to know, it's it?

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If the judgment is against just one person then there can be no equitable charge placed on the property. All the creditor can do is register a restriction, but that still doesn't give them any priorty. All the conveyancer has to do is let the restriction holder know ONCE the house has been sold - so that they can try and chase for payment at that point.

 

It's good to know, it's it?

 

Does this apply to a remortgage as well ?

 

Are Solicitors likely to be aware of the law with regard to this ?

 

If you are changing from joint ownership to single ownership (ie after a divorce) will the amount advanced just have to be enough to cover the outstanding mortgage

and not the charging order. In my case the CO is in my name the mortgage joint but wish to give the house to ex wife.

 

If this is possible what happens to the CO ?

 

Are potential lenders likely to be a problem in these circumstances ?

 

Ta

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If this is possible what happens to the CO ?

 

the charging order IS the restriction .... which is a 'charge' against the equity in your property and it clearly states the creditor must be INFORMED of any sale .... not that they should be paid from any sale.

 

the 'charge' from a mortgage provider has different wording.

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Can someone help me? Is it true that if a creditor goes after a ccj without informing other owners of the property then the ccj is invalid. I'm sure I've seen it somewhere but I cant find it. Any advice at all would be helpful.

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Thank you so much for your trouble, Sequinci but i cant find the specific piece I want. Can you help me further. Thanks

 

 

Check the CPR. All known owners, charge holders or creditors should be notified of the charging order application. 99% of them won't care or be able to do anything about it.

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Found it (I think) :-)

 

Here ->> http://www.legislation.gov.uk/uksi/2003/1417/schedule/4/made

 

 

Form K (Charging order affecting beneficial interest—certificate required)

 

No disposition of the [registered estate or registered charge dated [date]] is to be registered without a certificate signed by the applicant for registration or his conveyancer that written notice of the disposition was given to [name of person with the benefit of the charging order] at [address for service], being the person with the benefit of [an interim] [a final] charging order on the beneficial interest of (name of judgment debtor) made by the (name of court) on (date) (Court reference ... ... ... ...).

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Hmm I'm convinced I quoted the wrong part... the bit I quoted was in reference to the solicitors having just to provide certified proof that they have let other creditors who have a restriction on a property know that the house is being sold...

 

..But I do think you'll find what you need in that set of regulations on conveyancing & Land registry rules.

 

The Land Registration Rules 2003

http://www.legislation.gov.uk/uksi/2003/1417/contents/made

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Good Morning, Could some of you please take a quick look at this thread, in particular posts #1,5 & 8. Am very unsure as to how to approach this case if am in a position to at all? Many thankyous!

M'pols x

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?184665-Northern-Rock-Q-Whats-wrong-here

'Confidence grows & heartbeat slows to a steady stronger beat, as each member unites, against DCA fights & we all sail aboard the CAG fleet!' :rolleyes:

:pKeep smiling peeps!

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  • 4 weeks later...

With regards to:

Section 1(5) of The Charging Orders Act 1979 which reads...

 

in deciding whether to make a charging order the court shall consider all the circumstances of the case and, in particular, any evidence before it as to-

 

(b) whether any other creditor of the debtor would be likely to be undult prejudiced by the making of the order

 

A Charging Order has just been made final against me and I was told at Court that there is NO requirement to contact or take other UNSECURED Creditors into consideration - only secured creditotrs.

Is this right - can I appeal?

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Thanks Simon - I am well clued up on this now....there is equity...but not enough to pay all creditors...only about 60%. Just anbnoyed that natwest seem to want preferential treatment. But as the loans are in single name (mine) and property is joint it is only a (meaningless) restrictions anyway.

 

 

Whilst Restrictions are not much use to a Claimant if the Defendant sell his house, the Claimant can still apply for an Order For Sale off the back of a Restriction...

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  • 7 months later...

some recent info

 

re charging orders and orders for sale

 

in short, gov't seems committed to bringing in force s93 TCE Act which basically 'introduces' (yes, 'introduces'. so technically not yet applicable! but soon will be) the ability for the courts to grant a charging order along side an instalment order currently in place despite that inst order not being in arrears.

and, to 'streamline' the co application.

also, consideration of a threshold re orders for sale.

 

http://www.justice.gov.uk/downloads/consultations/Enf_IA_orders_for_sale_-_final_version_as_signed_off_by_ministers.pdf

http://www.justice.gov.uk/downloads/consultations/Enf_IA_charging_orders_-_final_version_as_signed_off_by_ministers.pdf

charging-orders-response-ia[1].pdf

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?343089-Charging-Orders-discussion(9-Viewing)-nbsp

Edited by Ford
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  • 3 weeks later...
  • 2 months later...
  • 4 months later...

Hi does anyone know whether a Charging order can remain in place when the accounts which formed the basis of the judgment order have been closed by the bank.They have not officially wrote informing me of this.

 

The bank cannot supply statements for the amount owed.

 

All data about me has been archived and the Banks SAR team has been ubable to retrieve it.

 

The solicitor that was instructed to apply for the CCJ and the charging order has been told by the bank to close its file.

 

Their is no specific department at the bank that I can discuss this with, because they now have no record of the accounts or me, I fail the security questions.

 

My letters go unanswered.

 

Is it fair that the Charging order remains in place.

 

The RBS have closed the accounts because I discovered irregularities with the way they had been set up and were being managed.

 

Any suggestions would be welcomed.

 

Debbie

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