Cast iron advice needed re charging order

[ABBS 1995]

Hello first timer here.

 

I have had a good read on here about charging orders

but some of the information on the threads is a little old

and am concerned if there has been any law change

or land registry change that would effect my situation.

 

From what i gather i have a restriction and not a charging order

as the debt is in my name only but i own my home in joint names with my partner (not married).

 

Throughout the court process this situation was referred to as charging order

and also the court paperwork is worded charging order.

 

I believe this is just standard practice ???

 

Many people say they just like you to believe you have a charging order when in fact it is a restriction???

Am i correct ???

 

I have other questions to ask about this matter but will wait for responses to what i have already asked before going any further.

 

Thanks.

[Laura Thyme]

From what i gather i have a restriction

and not a charging order as the debt is in my name only

but i own my home in joint names with my partner .

 

You are correct,

 

when the debt is in a sole name and the property is jointly owned, they can only record a restriction.

 

The difference is that, with a restriction, - you are free to sell as long as your solicitor provides notice to the creditor.

You'd need to find a good solicitor with experience in this area to sell, though,

otherwise they'll just ask you to pay the restriction from the proceeds of the sale.

Edited February 2, 2014 by Laura Thyme

[ABBS 1995]

My next question is in relation to the type of restriction.

 

I have read that there are more than one type and have also briefly looked on the land registry website

which also indicates there are more than one type.

 

Can anyone shed any light on this subject ???

 

It seems that a type "K" restriction seems quite common

but i would like some info if anyone knows what the difference is between each ???

 

I have looked on my "final charging order document" which i received from the court after my charging order hearing

and it does not give any indication of which type of restriction i have.

 

I was wondering if the only way of finding out is by accessing what it says about my property with the land registry.

 

Can i phone them and get this info ???

 

I have had a quick look on their website and you can pay £3 to get a pdf of the title registers showing ownership details of a property ???

 

Would the type of restriction be shown on there ???

 

Thanks

[dx100uk]

when did this happen...

 

did you not challenge it??

 

dx

[ABBS 1995]

This was off a few years ago,

 

I do dispute the debt and am also not happy with the circumstances which led up to the charging order been granted.

 

However that will have to be put on the back burner for now and i will deal with the debt when it reverts back to a ccj when i hopefully sell the house.

 

So the top and bottom is i have a serious offer from a cash buyer to purchase my house,

once i agree the whole deal can be done in 14 days which i suppose is an advantage in these circumstances,

giving the creditor little time to put a spanner in the works.

 

The buyer has made me an offer, all i have to do is pick the phone up to say yes and the wheels will start turning on the purchase.

 

So i could really do with some sound advice on what to do ???

 

I suppose finding a solicitor who understands the diff between a charging order and a restriction is the first thing,

but i would have liked to be clued up so any solicitor does not try to make me pay the restriction.

 

Thanks

[Ganymede]

You have a Charging Order (CO) against you regardless of how it is registered at the Land Registry.

 

Once a Charging Order is obtained it can be registered with the Land Registry as either an Equitable Charge or a Restriction depending on how the property is owned etc.

 

The registration process has nothing to do with the Court. Your CO documents won't mention the Restriction.

 

The Form K is usually appropriate. Why are you not happy with the way the CO was registered?

 

Why do you want to know about the other forms of Restriction? Getting a copy of the title documents for your property will only show the wording of the Restriction but in your circumstances I'm not sure what else you hope to learn.

 

For more information on Restrictions see:

 

http://www.landregistry.gov.uk/professional/guides/practice-guide-76

[ABBS 1995]

Thanks for that ganymede,

so that means i should have a restriction not an equitable charge yes ???

 

My debt only but joint ownership of property.

 

Your correct my charging order docs dont mention a restriction nor do they mention form k.

Its more the ccj i was not happy about but i then just rolled over so to speak and allowed the charging order process to continue.

 

However as i said earlier i dont have time to worry about that at the moment i only need some sound advice from the likes of yourself

to make sure this house sale goes through hopefully without a hiccup.

 

The main points are:-

who does my solicitor have to inform of the sale ( the creditor, the land registry, the buyers solicitor???) and

how near to completion date could he leave it.

 

I also read somewhere that the buyers solicitor has to inform the creditor and/or the land registry of the sale, is this correct ???

 

People on other threads have mentioned leaving informing the creditor of the sale until almost completion date

to stop the creditor from being able to act,

but no one explains how they could act if they did have sufficient time.

 

Sorry for all the questions.

[Ganymede]

Yes a Restriction against your beneficial interest in the property is correct.

 

Your solicitor will know who to notify and when. As for what the buyers solicitor does, that's not your concern.

 

I agree with you that other posters seem to be under the mistaken impression that the Claimant could do anything to stop your sale.

[ABBS 1995]

Thanks for the advice ganymede it is much appreciated.

 

all i need to do is find a good solicitor who knows his stuff and everything should be ok,

i will make sure when i ring around to find a solicitor that i find one that knows the difference between an equitable charge and a restriction.

 

Having read a few other threads it seems lots of solicitors dont know the difference

and advise their clients that they must pay the charging order for the sale to complete.

 

The last thing i need to mention which i have not is this

- the agreed sale price will easily pay our mortgage off and the charging order if i chose to.

 

Our mortgage is through one of the high street banks

however the charging order is also through them.

 

Our mortgage is not in arrears or anything in fact never missed a payment but the charging order is off a personal loan

and overdraught on a current bank account i had with said bank.

Do you think this will make any difference ???

 

i am assuming the bank will be notified almost straight away when the sale process begins so giving them a slighty earlier heads up

than they would probably have on most of their other charging orders with customers who dont have a mortgage with them.

 

Do you still stand by your opinion in your last post that there is nothing they can do to stop the sale ???

 

I hope your answer is yes. Thanks

[ABBS 1995]

Getting really urgent now can anyone help please ???

 

I have just spoke to a solicitor re dealing with the sale for me

he was unhelpfull to say the least considering he set to make almost £500 for a house sale.

 

He said this all depends on the wording of the restriction.

 

i have just rang the land registry because my solicitor reckons i should have recieved the wording after the final charging order from land registry.

Well it turns out the creditor did not get back in touch with land registry after the final charging order hearing

however the restriction that was entered when the interim charging order took place is entered and is still valid.

 

The girl at land registry said it is quite common for creditors to do this

.She also gave me the impression this would have to be paid for a sale to complete however im not so sure.

 

This is how the restriction is worded on the paperwork i got from land registry after the interim hearing :-

 

"RESTRICTION: No disposition of the registered estate, other than a disposition by the proprieter of any registered charge registered before the entry of this restriction,

is to be registered without a certificate signed by the applicant for registration or their conveyance

that written notice of the disposition was given to (the bank and their address),

being the person with the benefit of an interim charging order on the beneficial interest of (me)

made by the xxxxxx county court on (date) (cort referance XXXXXX).

 

Can anyone please explain what this means in laymans terms.

 

Im getting a bit lost off with all these words like disposition, applicant, conveyancer etc.

 

Could someone retype the restriction wording with words that make it a little more understandable to myself.

 

Thanks

[Ganymede]

Disposition = Sale or transfer etc.

 

Applicant = Party applying to register the title in their name.

 

Conveyancer = Solicitor etc.

[ABBS 1995]

So in laymans terms lets say my mortgage company and the bank with the restriction (remember same bank) are called scottish bank and the guy who wants to buy my house is called fred and i am called bob, the restriction should read something like this. RESTRICTION:-No sale of bob's house, other than a sale by scottish bank(mortgage holder),is to be registered without a certificate signed by fred for registration or fred,s solicitor that written notice of the sale was given to scottish bank at their address(restriction holder), being the person with the benefit of an interim charging order on the beneficial interest of bob made by xxxxx county court on ??/??/???(date) (court referance ?????). I think i have my head round this now can you confirm please ganymede ???

[Ganymede]

So in laymans terms lets say my mortgage company and the bank with the restriction (remember same bank) are called scottish bank and the guy who wants to buy my house is called fred and i am called bob, the restriction should read something like this. RESTRICTION:-No sale of bob's house, other than a sale by scottish bank(mortgage holder),is to be registered without a certificate signed by fred for registration or fred,s solicitor that written notice of the sale was given to scottish bank at their address(restriction holder), being the person with the benefit of an interim charging order on the beneficial interest of bob made by xxxxx county court on ??/??/???(date) (court referance ?????). I think i have my head round this now can you confirm please ganymede ???

 

 

Pretty much yeah.