Law of property act

[MIKE770]

Thoughts:-


A Debt purchaser buys debts from say Capital One, so the theory is they own the debt! but they do not have the actual property in this case An CCA1974 in their hand - so they are chasing air, wonder if we have all been duped in to beliving it is legal to chase somebody under Law of Property Act without evidence in their hand. I could issue purchase agreemnt letter form without evidence of an actual agreement and could refer to a piece of paper I had not see/obtained, Thoughts on this discussion???

[ironman]

Re: Law of property act

All that is needed is notice of assignment to the account holder from the assignee saying the assignment has happened

if a civil claim is raised under the act you are entitled to inspect the absolute (legal) assignment to show good tital

[MIKE770]

Re: Law of property act

the post relates to owning actual property in this case the property being a piece of paper which also happens to be a CCA19774 = Actual Property! no arguments refering to assignments, but if they state fact then the CCA1974 in their hand = they own that property which is not lost or held by originator, I sell a house for arguments sake, the deeds are then transferred to me for safe keeping,! but sold CCA1974 in the form of words on a piece of paper and the said CCA1974 (deed) is not present, hence the discussion on here,

interesting point of Law???

[ironman]

Re: Law of property act

You are now talking of a tripartite agreement.

AS to LOP 1925 you are not party to any transfer of ownership, only the creditor and future creditor are party to that sale. The debtor only has to be notified of the transfer, that is all

[MIKE770]

Re: Law of property act

I will try again, I am a Debt purchaser, I buy a debt from a company, but the transaction is completed without the actual document in my hands, just say an invoice. along with multitude of other listed figures of alledged debts, The actual Property is not within my files.

An alledged debtor then is contacted to be informed they now own the alledged debt, = the debtor then ask for proof of the CCA1974 contract/agreement, and in all or most all cases the Owner does not have the property in this case CCA1974 and has to contact originator (who it seems sold that bit of paper/ but still holds?

[ironman]

Re: Law of property act

The assigment sale will be the rights and duties , not the contract

If the new creditor cannot then produce the original contract on demand as stipulated by the CcA 1974, he is then stuffed as to enforcing the terms of that contract