charge on property

[irenehb]

what does a charge on property mean? I have one on my property and wish to sell it, the charge was put on in oct last year and is for a supposed debt from 13yrs ago, there is no equity in the property and cannot keep up repayments but can pay off my mortgage, I am 58yrs old and worked all my life, 13yrs ago I told the truth and lost everything including my home

[MustafaTickl]

A "charge" is now called a restriction and the effect is that the property cannot be Registered in a new name until the Restriction is lifted by its owner. Effectively therefore you cannot sell your property without at the same time or earlier settling the debt. You should get in touch with the owner of the Restriction to establish how much they want and to coincide settlement of it with completion of your sale if you can find a buyer.

[irenehb]

thanks mustafa i aiready have a buyer, but was unaware of what this ment, as i said this was from 13yrs ago, when i gave back my house at that time, the halifax got their mony back plus gererous interest, but they wanted more, the courts have gave it to whoever is acting i think royal bank of scotland, but all my pleas have gone in vain, i am in this position becouse i stood up for justice and truth, big laugh yes, am i wrong when i say this will innow end up with me owing more money yet again to people i can pay back if i was allowed to, but in law not allowed to. this is wrong.

[MustafaTickl]

Glad to see that you have a buyer and sorry to read all the sadness. But that is all you do, get in touch with the owner of the restriction (if you are not sure of the contact address phone your local District Land Registry office whom you will find very helpful) and get a settlement figure from them, give the details to the solicitor who is handling your sale, then from the proceeds of your sale the solicitor will pay off the restriction owner, ensure that the restriction is lifted, pay off your mortgage, pay off the estate agent, pay himself, transfer the property to the new owner, and send you the balance of the cash. Best wishes and hope that things soon get better.

[irenehb]

thanks mustafa, but the property will not bring in enough to pay all, halifax want 33,000k I owe 133,000k property is only worth 35,000k basicaly the law is dictating that i get further into debt by paying the Halifax what they claim I owe, then the merrygoround begins again and people who trusted me will not get paid becouse of a judges decision which was wrong, I paid everything I owed. As I say I am 58yrs old and do not have the time to earn enough, I have never claimed one penny from the state but paid a lot in to get slapped in the face over and over again, this is the last I will write on this subject I now know the law is an ass

[themas]

If your debts are as large as you say and you have no prospect of being able to pay them back, have you considered the possibility of making yourself bankrupt? The house would be taken, but you say you want to sell it anyway.