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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I have legal register over my house unforunat they is no personal

Customer Question

I have legal register over my house unforunat they is no personal guurantee establish now they want to sell my house because of legal charge sign for the house on company charge .
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
-Could you explain your situation a little more?
Customer: replied 3 years ago.
A settlement was made and a agreement wae made that I will pay the company debt .first they claim on personal guuantee uuforcunately it was not valid as they confirm and now they claiming on the company legal charge .on my personal property which was company legal charge
Expert:  UKSolicitorJA replied 3 years ago.
Understood.

What is your question please?
Customer: replied 3 years ago.

my question can they claim my house and do a force sale with receivership.

Expert:  UKSolicitorJA replied 3 years ago.
Hello,

I am afraid yes, they can is they have a legal charge over the property and the charge document gives them power to appoint receivers and sell the property in the event of a default by you in repaying the debt.

Hope this clarifies.
Customer: replied 3 years ago.

noted . my main question the charge was registred by the company for my personal house charge but i dad not sign the with the gurantee . thanks . md

Expert:  UKSolicitorJA replied 3 years ago.
Thank you.

There is no requirement that you must have issued a personal guarantee for the legal charge over your residential property to be valid. The legal charge is given as a deed which means no consideration is required.

Sorry but I can only advise truthfully based on the legal position.
Customer: replied 3 years ago.

but i did a settle ment agreement in my name and legal charges were for company . means if have agreed in the my personal agreement .to pay and that agreement has expired of course their is a close in my agreement if i dont pay the agreement becomes void . but agreement expired 2 months back and are claiming on legal charge . can THEY DO THAT .THANKS .

Expert:  UKSolicitorJA replied 3 years ago.
The legal charge is a separate document from the settlement agreement.

Even if the settlement agreement has expired, the legal charge is enforceable in accordance with its terms until it is discharged or monies due and payable under the legal charge are paid.

This case may help you understand the matter further:

http://www.propertylawuk.net/printable.mortgagesfacility.html

I can only advise you truthfully, and am sorry this may not be what you wish to hear.

You may go to court to oppose the power of sale nevertheless, that is your right, but in my opinion, this is likely to fail.

Hope this clarifies


Customer: replied 3 years ago.

THANKS THEY SELLING BELOW THE MARKET PRICE .CAN THEY DO THESE . THANKS FOR YOUR HELP . MD

Expert:  UKSolicitorJA replied 3 years ago.
I am afraid they can sell below market price, this is very common in repossessions as all they care about is to recover their money.

All the best, please remember to leave feedback
Customer: replied 3 years ago.

I WANT TO FIND ANSWER . IF THE COMPANY IS STRUCT OFF IN 2010 AND BANK MADE NEW NEW FACILITY LETTER FOR ON 2011 FOR THE SAME COMPANY WITH A GURANTEE . CAN THEY CLAIM .THANKS . MD.