Thanks for your enquiry.
I am afraid your Solicitor is correct. A Seller's Solicitor has to provide an Undertaking to the Buyers Solicitor before completion that all financial charges (whether it be in the form of a Mortgage or a Restriction) registered against the property will be removed/paid off on completion. If the Seller's Solcitor does not then comply with this Undertaking, they are personally liable to rectify the problem.
Likewise, the Land Registry will not register the Buyer as the new owner until any Restrictions have been complied with or removed, as the case may be.
Your Solicitor will therefore want to see evidence that these 2 Restrictions will be removed/complied with/there are sufficient funds to clear them, before committing to an exchange of Contracts.
I hope this assists you and sets out the legal position.
Thanks for your reply although my original question was posted to some one else who had dealt with a similar question to mine, never the less I have been doing a little research on the matter and found this posted by a property law firm from Manchester:
if, however, the property is owned jointly the Charging Order cannot takes effect as an equitable charge over the legal estate but over the debtor�s beneficial interest in the property which means that it can be overreached, i.e. effectively the property can be sold free of the Charging Order and there is very little that can be done to protect the creditor�s interest.
Where the property is jointly owned no type of registration confers priority over the charging orders [equitable charges over the debtor�s beneficial interest]; those created first rank over later such charges but all can be overreached by a sale by the joint owners.
Looking forward to your reply
Apologies for answering- whichever expert you had requested was unable to assist you at this time for some reason or another,nd hence your question has "been opened to all other available experts".
I will therefore opt out.
Thank you Aston here was part of the text which I mentioned which appears to be of a similar question dealing with a restriction and not a charging order.
5. (20.08.2010) RESTRICTION: No disposition of the registered estate, other than a disposition by the proprietor of any registered charge registered before an entry of this restriction, is to be registered without a certificate signed by the applicant for registration on their conveyancer that written notice of the disposition was given to (Name) at (address) and (Email address)
Expert: Clare replied 1 year ago.
The only requirement is for her to be given Written Notice of the sale.
had there been any equity then the position might be a little more difficult - but there is not so the sale can go ahead without problem.
So far as the agreement you signed is concerned she can (if she wishes) sue you for the money (though you can of course defend it) - what she cannot do is prevent or hold up the sale
I hope that this is of assistance - please ask if you need further details
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Customer: replied 1 year ago.
Hi Clare, sorry I havent rated your answer yet. My conveyancer is still assures the sale cannot go through, as the new buyer will not be able to register their names with me Ex on the register. I'm stuck between a rock and a hard place so have an appointment tomorrow with yet another solictor to try and figure this out. Thanks for your patience
Do not worry - it is a common misapprehension (and one I shared for years)
Ask your solicitor to read the Restriction again - all that is required is that Notice is Given - that and no more.
They can phone the land Registry if they need confirmation
I had expected a reply from one of your experts who had dealt with a similar question, but it appears I was misled to some degree by the banner saying she was there ready to answer my question. So I think it's best if the question is cancelled and a refund made to my debit card for the £36 I paid on Saturday.