buying property can claim be made

[jkz]

If l buy my council property, can people l owe money to from many years ago make a claim?

What happens if l put someone else on the deeds as joint owner after l have bought my property
Would this stop any claims being made?

[craft1948]

If the people you owe money to think it's worthwhile they can apply for a charge against the property which means the debt would have to be paid the next time the property is sold.

[boxtops]

People can only make a claim on the value of your property under a very specific set of circumstances, as I understand it - they would need court orders instructing you to sell the house. (I could be wrong)

[boxtops]

^ craft's answer is better than mine

[jkz]

thank you for answering but what happens if in joint names please many thanks

[boxtops]

Surely they could still put a charge on your percentage of the ownership?

[craft1948]

Then the debt would be taken from your half of the profits when the property is sold.....................

[craft1948]

That's if a building society will lend you the money to buy the property if you have outstanding county court judgements.............

[jkz]

l am sure that someone would as it would have only 30% mortage many thanks for the replies

[micmak]

I may be missing something here, if you owe money would it not be a good idea to pay it back before getting in to more debt with a mortgage?

[jkz]

dont have the money but new law just come in saying council property discount higher hence l would get 70% discount

[craft1948]

lol mic I don't think that is high on jkz's priorities.

[micmak]

Craft. I was brought up to saving up for what you want. I know this isn't possible with buying a house. A mortgage is the only debt I have ever had. Through being a tad (well a lot really) frugal I am now mortgage free.

[tonywiltshire]

It would depend on what type of debt it was, it may be statute barred, but these must be dealt with very carefully. If judgement has been entered against you and you have defaulted, as has been said, you may have difficulty obtaining a mortgage and if you had managed to obtain a mortgage the creditor can apply to the court for an interim charging order against your holding in the property which would lead to a final charging order and possibly an order for sale.

[themas]

Just to add to Tony's excellent reply. It makes no difference if there is a joint owner. All it means is that any charge is against just your share of the ownership (i.e. 50% unless the ownership is specified as being split differently). The creditor could still apply to Court for an order for sale once the charge had been put in place.

[ladybirder]

I wonder whether jkz will be allowed to just put someone else's name "on the deeds as joint owner". Surely the Council put certain rules in place for the first few years (ie you can't sell for a certain period of time) and mightn't the mortgage provider have something to say about it? Just a thought ...