Charging order on home but want to move

[ZENTRIX9]

Hi, back in Nov 2012 we got a charging order, done sneakily by Mortimer Clarke at  Kings Lynn and I am near Stafford!

Since them I have paid off the Mortgage, the house is jointly owned and the charging order is on my wifes half.

The house we are buying I don't need a mortgage.

 

Can I sell my property without paying it off?

 

 

This is the wording on HM Land Registry.

 

This register specifies the class of title and
identifies the owner. It contains any entries that
affect the right of disposal.
Title absolute
1 (08.10.1990) PROPRIETOR: XXXXXXXXX and XXXXXXX of XXXXXXXXX
2 (26.11.2012) RESTRICTION: No disposition of the registered estate,
other than a disposition by the proprietor 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
conveyancer that written notice of the disposition was given to Cabot
Financial (UK) Limited (Co. Reg. No 03757424) at care of Mortimer
Clarke Solicitors, 16-22 Grafton Road, Worthing, West Sussex BN11 1QP,
being the person with the benefit of an interim charging order on the
beneficial interest of XXXXXXX made by the King's Lynn County
Court on XXX November 2012 (Court reference XXXXXX).

[ZENTRIX9]

27 minutes ago, ZENTRIX9 said:

Hi, back in Nov 2012 we got a charging order, done sneakily by Mortimer Clarke at  Kings Lynn and I am near Stafford!

Since them I have paid off the Mortgage, the house is jointly owned and the charging order is on my wifes half.

The house we are buying I don't need a mortgage.

 

Can I sell my property without paying it off?

 

 

This is the wording on HM Land Registry.

 

This register specifies the class of title and
identifies the owner. It contains any entries that
affect the right of disposal.
Title absolute
1 (08.10.1990) PROPRIETOR: XXXXXXXXX and XXXXXXX of XXXXXXXXX
2 (26.11.2012) RESTRICTION: No disposition of the registered estate,
other than a disposition by the proprietor 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
conveyancer that written notice of the disposition was given to Cabot
Financial (UK) Limited (Co. Reg. No 03757424) at care of Mortimer
Clarke Solicitors, 16-22 Grafton Road, Worthing, West Sussex BN11 1QP,
being the person with the benefit of an interim charging order on the
beneficial interest of XXXXXXX made by the King's Lynn County
Court on XXX November 2012 (Court reference XXXXXX).

 

 

Protection by restriction
The level of protection offered by a charging order will entirely depend upon the form of restriction entered against title to the property.

 

The standard form of restriction entered upon obtaining an interim charging order (form K) merely provides that no disposition of the property “is to be registered without a certificate … that written notice of the disposition was given” to the creditor with the benefit of the charging order.

 

There is no requirement for notice to be provided in advance of the disposition (or before the sale proceeds are paid) so that the creditor can obtain an undertaking that their debt will be paid before completion monies change hands.

 

Therefore, it is possible for a judgment creditor to be notified of a sale after completion and, if they do not react quickly enough, the transfer of the property will be registered (and their restriction removed) without receiving payment under their charging order.

 

In such circumstances, the judgment creditor will lose the benefit of their security and rank as an unsecured creditor of the seller.

[dx100uk]

its a mere restriction k

just sell it cant prevent it.

 

all legally that has to be done is the buyers solicitor informs them its now owned by someone else

but pers I wouldn't bother.

 

tough luck on the fleecers.

 

dx

 

[ZENTRIX9]

Ok so that just stops me selling while they apply to the court for the Interim charging order?

 

So tell the conveyancers not to contact the fleecers

 

Happy days

 

Can they then come after it again?

 

[dx100uk]

Nothing they can do

A restriction k is just that.

Forgot is exists

[ZENTRIX9]

Thanks for the info.

 

We have a buyer and the conveyancing has started However..........

 

Our conveyancer thinks that we have to let Cabot know about the sale, he also says that the conveyancers dealing with the purchase of my house will want to know if there are any restrictions and assurances they will be sorted before the sale goes through.

 

Has anyone got anything I can send them in legal terms to sort them out? I have told them I DO NOT want Cabot informed of the sale.

 

They have been told that they do not have to inform Cabot until the sale goes through and then the restriction will become null and void

 

 

Thanks

 

Zen

[dx100uk]

about time he knew the rules his industry operate under then!!

if he know legalese and reads the restriction k wording on the deed

its tells him what he must do!!

 

[ZENTRIX9]

Thanks for all the help.

 

One last question, my uncle and myself have joint and several power of attorney for Health and Welfare and also property and financial affairs for my mother who has Alzheimers and lacks capacity, she no longer knows us.

 

Can I purchase my mothers house with the proceeds of my house sale to free up her money to pay for her care fees.

Will I have to apply to the court of protection to sell it or can we just go ahead with the sale.

I have had 3 valuations done by 3 different estate agents and my uncle would in theory organize the sale to myself.

All done with solicitors and above board.

 

Zen

[jotty]

The brilliant advice on here never ceases to amaze, you have saved people £’s and many sleepless nights.