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Alice H
Alice H, Solicitor/Partner
Category: Law
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Experience:  Partner in national law firm
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My brother in law borrowed 15,000 pounds from me back in 2008

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My brother in law borrowed 15,000 pounds from me back in 2008 saying he would pay me back when he sold 3 flats in Streatham that he is currently renting .I believe he has a mortgage on the flats and he also owns them with a partner .I now of course regret having made this loan having received nothing of the outstanding debt .Shortly before I made this loan my brother in law had also borrowed 30,000 pounds from my mother ( his mother in law ) which I wasn't aware of . I was somewhat naive when I made this loan but would like to be repaid . My brother in law doesn't appear to have cut back on his lifestyle but maintains that his wife ( my sister ) doesn't get the health care that she needs under her health insurance and therefore needs additional funds for her . He is repaying my mother 200 pounds a month ( she is now 87 ).
He has continually said that I can only get repaid when he sells the flats and I'm resident in the United States so it seems to me that the only way for me to have any control over this situation would be for me to put a lien on the 3 flats --as I mentioned I don't know the size of the mortgage so if he did sell the flats and only had enough to repay the mortgage that would leave me with nothing but he would still owe me the debt . Do you have any suggestions for me ?
Submitted: 3 years ago.
Category: Law
Expert:  Alice H replied 3 years ago.
My name is***** and I'm happy to help with your question today. I need to ask you some preliminary questions to be able to help you.

Do you have evidence of the money you loaned him?
Customer: replied 3 years ago.
Yes , I have a number of emails from him reiterating the fact that he would have to sell the flats to satisfy the loan.
I also have a receipt from my bank showing the transfer of the funds to him and we both commented via e mail about the exchange rate .
Expert:  Alice H replied 3 years ago.
OK that's good news.

You could register a caution on all or some of his properties with HM Land Registry. This does not prove you are owed the money or that you have a rightful claim, but any dealings in the property would be brought to your attention should he try and sell. Also if he agreed you could put a charge on his property - this is like a mortgage whereby at the point of sale any money from the proceeds will have to be used to settle the charge before he gets anything that's left. This is clearly a preferable method than a caution as there is some guarantee of payment whereas with a caution you are simply notified of the dealing. In both cases you will have to wait for your money. If you don't wish to wait you could demand repayment and sue him in the County Court. If you are successful you could obtain a charging order and then apply for an order for sale. A voluntary arrangement would, of course, be better for you but if he is not prepared to cooperate then you may not have an option but to sue.
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Customer: replied 3 years ago.
Thank you for your response Alex .I do have one question :Knowing this person ,I doubt that he would agree to me putting a charge on his property. Can I not put a charge or lien on his property without getting his consent ?
Expert:  Alice H replied 3 years ago.
Only the caution can be put on the property without his consent but it would be brought to his attention and he could object. Any other transaction that relates to a property registered to him will be brought to his attention either through the court or via Land Registry. there's probably not much point at looking at other options such as bankruptcy or attachment of earnings as he seems to be a man of limited means. But if you are serious about getting some security for your money then a charge on one or all of his properties is really your best option.