Commentary

77 Remedies of chargees

COMMONHOLD vol 8(1)
| Commentary

77 Remedies of chargees

| Commentary

77 Remedies of chargees

A chargee of the assets of a commonhold association has in principle all the remedies available to any chargee of property of a limited company. But the features of commonhold affect in some ways the practical application of those remedies.

A chargee who has a fixed charge of the common parts is not, it is considered, in practice able to realise his security until the association is in liquidation. The common parts on their own (though no doubt integral to the commonhold) may not be attractive to a purchaser. Unlike a freehold reversion, ownership of the common

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