Can a lien be placed on your property without you knowing? Yes, it happens. Sometimes a court decision or settlement results in a lien being placed on a property, and for some reason the owner doesn't know about it– initially.
A charging order secures a debt you have with a creditor against your property. This means if you sell or remortgage your home before the debt is cleared the charging order will be paid off from the proceeds. A creditor can only get a charging order if they already have a County Court judgment (CCJ) against you.
They can open a home equity line of credit (HELOC) in your name, taking out the equity on your home and not making the payment. If they target an empty home – like unoccupied vacation homes or rental properties – they can use forged deed to sell the home and profit without you knowing.
For registered land, this means registering it at the Land Registry on form “CH1”. For unregistered land, this means registering a land charge at the Land Registry on form “K1”. In the case of a mortgagor that is a UK company, it must also be registered at Companies House. Use form “MR01” to register the legal charge.
To put it simply, a legal charge on property is a document that converts your unsecured loan into a secured one. A charging order basically comes with a document called a “charge document”. The order secures an outstanding loan of yours with a property you own, most commonly your home/house.
An Interim Charging Order is obtained without prior notice to the debtor simply upon a written Application to the court with evidence that the debtor owns the property and that there is an enforceable Judgment Order.
With so-called property title fraud, scammers obtain the title of your property – usually by stealing your identity. They then change ownership on your property title from your name to theirs. They will then typically take out loans secured against the property or even sell it. And while it's not new, it's on the rise.
The title deeds to a property with a mortgage are usually kept by the mortgage lender. They will only be given to you once the mortgage has been paid in full. But, you can request copies of the deeds at any time.
In short, yes you can sell your house without the deeds, however you must be able to prove through other means that you are the owner of the property. As the deeds are the assortment of documents which usually prove ownership, proving it without them can be a more protracted process, but it is by no means impossible.
The order will remain on the Land Registry until the debt has been paid in full. Once you have repaid what you owe, you can apply to the land registry to have it removed. If you are a resident in Scotland, however, a charging order will expire eventually, after a period of 12 years.
A legal charge allows a lender to secure the money they have lent to an individual or company. It is a legal document signed by the borrower which is registered against the property at the Land Registry to alert any potential buyer of the existence of the debt. A legal charge is also known as a secured loan.
Paying off a charging order
Ask the court for a certificate of satisfaction on your CCJ and include evidence of payment. Creditors will usually inform the Land Registry that the debt has been paid so that the charging order can be removed from your property.
Title deeds are documents which prove ownership of land or property.
Possessory title refers to when registration of a title was applied for, the applicant didn't have the right documents when registering the title to satisfy the threshold for the absolute title (the best form available). There are a number of reasons why land may be registered with possessory title.
The easiest way to prove your ownership of a house is with a title deed or grant deed that has your name on it. Deeds typically are filed in the recorder's office of the county where the property is located.
The Land Registry do make available a considerable amount of information for free. This includes all of their Practice Guides, Land Registry Forms and House Price Data.
Title records protect the buyer by revealing whether a property has marketable title, one free of undesirable encumbrances. The buyer is legally responsible for knowing the condition of title, since it is a matter of public record.
Which is more important: title or deed? Both the title and the deed are of equal importance because they both have a purpose in the home selling process. For instance, a title search can note only confirm who owns the property, but also lists any liens, loans, or property taxes due.
To enter a restriction you must be the registered owner of the property; someone who is entitled to be registered as the proprietor, that is, the new buyer; a person with consent from the owner or future owner such as a solicitor; or someone with sufficient interest in the property, for example a charity commissioner ...
The answer is yes, though the process of exposing the fraud and reversing its impacts can be difficult. You still own the home because any deeds conveying it to another party are fraudulent, as is your forged signature.
A creditor can only make an application to court for a Charging Order if they have already secured a judgment against the debtor. There are two stages in the process - an “Interim Charging Order” and a “Final Charging Order”. The entire process normally takes between 6-8 weeks.
A legal charge executed against a property equating to the value of the LendersA company or person that lends money to another. Close LoanWhen something is borrowed by one person / entity from another. Normally it refers to money, and a rate of Interest is charged whilst the debt remains outstanding.
In theory, as long as you have sufficient equity in your home, you can take out as many secured homeowner loans as you like on your property. Each new lender will take a further legal 'charge' over your home, although each time they will take a lower 'charge' over your property.
A certificate of title is a document or record that acts as proof of ownership of a property. It can come in some forms such as a tax declaration, a deed of sale, or a Torrens Certificate of Title.