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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33806
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My husband and I gave our daughter £25,000 in 2007 as deposit

Resolved Question:

My husband and I gave our daughter £25,000 in 2007 as deposit on house, which we bought with all three of us on the mortgage. She was living in the house and was responsible for paying for mortgage. Unfortunately after a very short time she stopped paying and we took over the repayments. She has since moved out and we have a tenant renting from us, who unfortunately is not only our daughters best friend, but she also is frequently late paying the rent. Our daughter is not in contact with us and we do not have her address. My husband an I now want to sell the house as we don't want the responsibility any longer, but we now find that there is a charge on the property due to a debt belonging to our daughter. We have no idea how much it is for, as the people concerned won't discuss it with us, and our daughter absolutely refuses to give them permission to speak to us, and also refuses to give permission for us to sell the house. What can we do ?
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the house worth and how much is outstanding on the mortgage?
Is there an agreement setting out what share you will each have in the property?
Clare
Customer: replied 2 years ago.

Hi

We bought the house in 2007 for £112,000 unfortunately due to the crash in 2008 it has lost a lot of its value. I would estimate that its now worth around £80,000 - £85,000 but we are currently in the process of having it valued. There is £78,454.58 outstanding on mortgage. The original agreement was that if Heather paid the mortgage for two years without any problems, then we would sign the house over to her. Unfortunately, as I said before, this didn't happen, and we have been responsible for ensuring the mortgage gets paid for the last 6 years. Unless we can find out how much the charge is against the house, we can't consider selling it, as it could well end up costing us money to sell the house, as the charge has to be settled before the house can be sold.

thanks

Margaret

Expert:  Clare replied 2 years ago.
Hi
Things may not be as bad as that
How did you find out about the charge?
Clare
Customer: replied 2 years ago.

We checked on the land registry, and we have spoken to the company who placed the charge through the courts, but they won't discuss anything with us as its in our daughters name

Expert:  Clare replied 2 years ago.
Hi
Is it noted as a Charge or a Restriction - the wording will help - just reproduce it here if you are uncertain
Clare
Customer: replied 2 years ago.

Please see notice below

(21.10.2009) RESTRICTION: No disposition of the registered estate, other than a disposition by the proprietor of any registered charge registered before the entry of this restriction, is to be registered without a certificate signed by the applicant for registration or their conveyancer that written notice of the disposition was given to Link Financial Ltd (Co. Regn. No.3504939) at PO Box 107, Caerphilly CF83 9AD, being the person with the benefit of an interim charging order on the beneficial interest of Heather Juby made by the Cardiff County Court on 24 September 2009 (Court reference 9XO71709

Expert:  Clare replied 2 years ago.
Hi
You can still sell the property - and if your daughter will not agree to a sale then the Court will order it.
Within the sale process your solicitor will have to give notice to the creditor that the sale is taking place.
IF there is any equity after the mortgage has been paid off then the debt will have to be deducted from your daughter's share of the equity
As joint owners you are entitled to apply to the court for an Order for Sale - it will be granted
Please ask if you need further details
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33806
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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