Charging order Flashcards
(3 cards)
1
Q
what is a charging order? what can it be attached to?
A
security over the JC’s interest in the land/asset.
can be obtained over land or JD’s beneficial interest in securities inc. UK government stock, shares and unit trusts
2
Q
what is the disadvantage of a charging order?
A
JC only gets money once property is sold (by JD or order for sale) & after other higher-ranked secured creditors
3
Q
what is an important procedural step?
A
charging order must be registered at HMLR / Land Charges Department
