ChatterBank3 mins ago
change of deeds to reduce beneficial interest to thwart credit card company
The deeds of my property are in joint names (joint tenancy) with my daughter. A credit card company has obtained a charging order for the sum of 12000 on what they refer to as her ''beneficial interest'' in the property. They are seeking to receive this sum on the sale of the property;
My intention - if i am able to, legally - is to arrest them from achieving their objective; ideally I wish to ensure that they receive as little as possible of this sum - preferable nil;
i would be extremely grateful for your technical and, if applicable, legal expertise with this objective and answers to the following questions;
(1) Can she be removed from the deeds (in order to ensure that she has no beneficial interest in the property) whilst there is a charging order on the deeds in respect of her ''beneficial interest'' and (2) can her interest be removed WITHOUT the credit card company being informed of the event?
(3) If it is a legal requirement to inform the credit card company of the event, WHO is required by law to provide such information?
(4) If and When the credit card company are informed of this intention (to remove her name from the property deeds) can they BLOCK her removal from the deeds?
Ideally, I would prefer to construct the deeds of the property such that they retain her and I as joint tenants in order that she can inherit the property upon my death without paying inheritance tax AND to ensure that if the property has to be sold before my death, that the ratio of ownership/''beneficial interest'' of the property can be split 1:99 respectively so that her beneficial interest is at the very minimum of 1% henceforth the credit card company would only be able to receive 1% of the proceeds, thus they would a sum in the region of �2000 instead of �12000 !
Many thanks in anticipation for your enormous and generous kind assistance in respect of this matter.
My intention - if i am able to, legally - is to arrest them from achieving their objective; ideally I wish to ensure that they receive as little as possible of this sum - preferable nil;
i would be extremely grateful for your technical and, if applicable, legal expertise with this objective and answers to the following questions;
(1) Can she be removed from the deeds (in order to ensure that she has no beneficial interest in the property) whilst there is a charging order on the deeds in respect of her ''beneficial interest'' and (2) can her interest be removed WITHOUT the credit card company being informed of the event?
(3) If it is a legal requirement to inform the credit card company of the event, WHO is required by law to provide such information?
(4) If and When the credit card company are informed of this intention (to remove her name from the property deeds) can they BLOCK her removal from the deeds?
Ideally, I would prefer to construct the deeds of the property such that they retain her and I as joint tenants in order that she can inherit the property upon my death without paying inheritance tax AND to ensure that if the property has to be sold before my death, that the ratio of ownership/''beneficial interest'' of the property can be split 1:99 respectively so that her beneficial interest is at the very minimum of 1% henceforth the credit card company would only be able to receive 1% of the proceeds, thus they would a sum in the region of �2000 instead of �12000 !
Many thanks in anticipation for your enormous and generous kind assistance in respect of this matter.
Answers
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It is, of course , a criminal offence to attempt to defraud a creditor.Dishonestly trying to get their security removed from their reach would likely constitute it. You won't go that far, we trust !
Your daughter has run up this debt. The company has its rights. She should have thought of that beforehand. It's a bit late to be asking us to find ways of defeating the creditor.Not surprisingly, the law is up to such ideas.
Your daughter has run up this debt. The company has its rights. She should have thought of that beforehand. It's a bit late to be asking us to find ways of defeating the creditor.Not surprisingly, the law is up to such ideas.
When credit card companies dont get paid their money and have to chase it - they put their charges up to cover their losses so the rest of us end up paying for poor creditors like your daughter.
Why shouldnt she have to pay them back?
Who ever said she could get cards spnuk a load of money and never have to pay it back?
And now you are trying to help her by defrauding them out of their money.
Its no wonder she learns the bad way from such a poor example! Be more responsible and repay what you borrow! The rest of us have to!
Why shouldnt she have to pay them back?
Who ever said she could get cards spnuk a load of money and never have to pay it back?
And now you are trying to help her by defrauding them out of their money.
Its no wonder she learns the bad way from such a poor example! Be more responsible and repay what you borrow! The rest of us have to!
to hc4361 thank you for your answer - i have other questions seeking alternatives routes to thwart this bank which i would be grateful to you for your answers ......
to the others i.e fredpuli47 and nosha 123 and ummmm who spouted their irritation in response to this question instead of actually providng an answer, i did want to include the following paragraph (but was unable to include for there was a limit on the number of characters)
'' Respectfully, as mentioned above, I am only seeking your technical and, if applicable, legal expertise with this objective and answers to the above questions. I am not asking for nor do I wish to receive comments in regards your moral opinions about the use of or inability to pay off credit cards or judgements or criticisms that are motivated by indignation, your envy or piety''
please direct such comments to the banks who ''lost'' billions and then ''stole'' billions from the hard working tax payer.......and then expected to receive obscene bonuses! instead of coming onto these forums which are for the purpose of answering questions and not for the purpose of spouting repressed anger please direct your poison to thoes targets who really deserve it and should be swallowing it - thanks !
to the others i.e fredpuli47 and nosha 123 and ummmm who spouted their irritation in response to this question instead of actually providng an answer, i did want to include the following paragraph (but was unable to include for there was a limit on the number of characters)
'' Respectfully, as mentioned above, I am only seeking your technical and, if applicable, legal expertise with this objective and answers to the above questions. I am not asking for nor do I wish to receive comments in regards your moral opinions about the use of or inability to pay off credit cards or judgements or criticisms that are motivated by indignation, your envy or piety''
please direct such comments to the banks who ''lost'' billions and then ''stole'' billions from the hard working tax payer.......and then expected to receive obscene bonuses! instead of coming onto these forums which are for the purpose of answering questions and not for the purpose of spouting repressed anger please direct your poison to thoes targets who really deserve it and should be swallowing it - thanks !
I think maybe you should re read my first answer where I pointed out that it wasn't your debt. My other staterment was asking simply why your daughter has not or will not pay. If you answered that people might be a bit more understanding of the situation. I'm not judging you....just pointing out that if you sell the house the money will be taken from her share.
Are you or your daughter actually disputing the validity of the debt? I'm asking because you seem very upset with the credit card company- for example your comment: "ideally I wish to ensure that they receive as little as possible of this sum - preferable nil". If you think the credit card company is acting unreasonably then you might have a legal challenge which may be better than seeking to go down the route you have suggested here.
I am increasingly irritated by people who feel it is ok to either not pay their debts or try to wriggle out of them in some way
Your daughter (!?) owse the money quite regardless of what the banks are doing; ' who ''lost'' billions and then ''stole'' billions from the hard working tax payer'. Pray tell just who do you think will be paying your daughters debt for her then if she doesn't? The tax payer, who, as you have already stated, have had billions stolen from them already by the banks
She will and must pay it herself. I so hope you cannot find a way around the charge on the house, because otherwise your daughter also becomes the thief in that large gigantic statment you made above
Your daughter (!?) owse the money quite regardless of what the banks are doing; ' who ''lost'' billions and then ''stole'' billions from the hard working tax payer'. Pray tell just who do you think will be paying your daughters debt for her then if she doesn't? The tax payer, who, as you have already stated, have had billions stolen from them already by the banks
She will and must pay it herself. I so hope you cannot find a way around the charge on the house, because otherwise your daughter also becomes the thief in that large gigantic statment you made above
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