Charging Orders or not !

[spirit2534]

I understand that there are two types of charging oders dependent on who is the owner of the property.
1. If the debtor is the sole owner
2. Where the debtor owns the property as joint tenant Say Husband & Wife, Husband is debtor, wife is not.masdopey:

Could one of the legal bods explain the difference, what are the practical differences?.

Thanks:carols:

[spirit2534]

Re: Charging Orders or not !

Not desparate but answers would help.

[Kati]

Re: Charging Orders or not !

Hi Spirit mashappy:
I'm sure some of the knowledgeable Beagles will get to you soon!! It's been a bit hectic (as it's almost Christmas) :sorry:

K x

[Kafka]

Re: Charging Orders or not !

I understand that there are two types of charging oders dependent on who is the owner of the property.
1. If the debtor is the sole owner
2. Where the debtor owns the property as joint tenant Say Husband & Wife, Husband is debtor, wife is not.masdopey:

Could one of the legal bods explain the difference, what are the practical differences?.

Thanks:carols:

A Charging Order can be attached to a property where the debtor is owner or joint owner of the property. Even if one person owes the debt and the property is joint, it can still attach because the debtor has a stake in the property.

The two types of Charging Order are Interim and Final, the former needing to be obtained before the latter finalises the attachment. COs, like Attachment of Earnings Orders - must follow a judgment and they are effectively means of securing the return of the monies granted to the creditor under a judgment.

[spirit2534]

Re: Charging Orders or not !

Thanks
I understand that if the property is in joint names then any order is just a requirement to inform that there is a change in the ownership, not a requirement to pay the charge.masred:

[MIKE770]

Re: Charging Orders or not !

Thanks
I understand that if the property is in joint names then any order is just a requirement to inform that there is a change in the ownership, not a requirement to pay the charge.masred:

#
Just a restriction

[Kafka]

Re: Charging Orders or not !

Thanks
I understand that if the property is in joint names then any order is just a requirement to inform that there is a change in the ownership, not a requirement to pay the charge.masred:

Basically the Charging Order gets registered with the Land Agency so that the property cannot be sold without the CO being addressed. This automatically flags up if there is an attempt to sell the property.

[spirit2534]

Re: Charging Orders or not !

But as I understand it this is just a duty to inform.
Can the CO stop a sale after being "informed"?

How much notice does the CO have to be given, is it laid doen in stature?
One day, one week etc.masroll::santa_cheesy:

[spirit2534]

Re: Charging Orders or not !

Basically the Charging Order gets registered with the Land Agency so that the property cannot be sold without the CO being addressed. This automatically flags up if there is an attempt to sell the property.

:tinysmile_hmm_t2:

If a property is in joint names, what happens to the restriction if the debtor dies, the other owner attempts to transfer into sole name.

Say in the case of husband / wife, the husband is the subject of the restriction, the wife is not involved in the debt.:tinysmile_aha_t: