Author Topic: Bankrptcy and restrictions on Proprietorship register  (Read 2385 times)

brray

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Bankrptcy and restrictions on Proprietorship register
« on: Nov 16, 2013, 01:15:30 PM »
 Hello
I'm new here and haven't found anything in other strings so hope someone will be able to help through this post. 

Husband had a debt which resulted in a charging order on family home.  He was subsequently made bankrupt. 

We previously jointly bought the house, but on his bankruptcy I bought his beneficial interest. 

So, now we would look to sell the house, but there is not enough equity to pay the debt subject to the charging order and the restriction on the property register says that a transfer can only be made with consent of that creditor.  They won't give consent to a transfer without the debt being paid up.  And I'm confused...
Husband doesn't have an interest in the property to which the restriction applies so the restriction does not work any more - is that right? 

I have asked the land registry to remove the restriction, but they say the creditor must do it, which they won't.  So now I have all of the beneficial interest and can not sell the house because the creditor can't be paid on a restriction that applies to husband's interest that he doesn't have. 
Does anyone know what is going on and what I can do?
Thank you![size=0pt][/size]

russelanthony

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  • Posts: 16
Re: Bankrptcy and restrictions on Proprietorship register
« Reply #1 on: Nov 20, 2013, 11:29:52 AM »
You have to go for a professional lawyer and consult there your problem, From here you cant get any right answer, because here all are giving ideas what they have, not exact solution. ok

brray

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  • Posts: 2
Re: Bankrptcy and restrictions on Proprietorship register
« Reply #2 on: Nov 20, 2013, 02:42:08 PM »
OK
Thanks!