The following Property Q&A Produced in partnership with Helen Galley of XXIV Old Buildings provides comprehensive and up to date legal information covering:
This Q&A assumes that the land in question is registered at HM Land Registry and that the chargeholder referred to is a legal chargeholder ie holds a charge over the legal estate in the property and that their charge is registered in the charges register of the property at the Land Registry. The charge may be a first legal charge or a subsequent legal charge. Between themselves, legal charges rank in priority in the order of registration which governs priority in relation to the right of payment. It is usual for a legal charge to provide that the costs of enforcement can be added to the secured sum and recovered from the proceeds of sale with the sum secured. For more information, see Practice Notes: Priority between security interests, Effect of registration at HM Land Registry or Land Charges Department on priority of security interests, Effect of registering security on priority of security, Tacking further advances to existing security and Mortgages—priority.
A charging order gives rise to an equitable charge. A judgment creditor who is unpaid can apply for a charging order to the court. It is a charge over the beneficial interest of the judgment debtor in the property. If the judgment debtor is the s
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What are OFTOs?Offshore Transmission Owners (OFTOs) are the owners of offshore transmission assets which connect offshore wind farms to the onshore electricity network. The transmission assets comprise everything between the offshore point of connection with the generating wind farm assets and the
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
An ad hoc arbitration is any arbitration in which the parties have not selected an institution to administer the arbitration. This offers parties flexibility as to the conduct of the arbitration, but less external support for the process. It can be quicker than institutional arbitration but not if
This Practice Note provides a high-level introduction to diversity and inclusion (D&I) and key reasons why it is important to law firms. Specific aspects of D&I are covered in more detail in Practice Notes:•The growing focus on diversity and inclusion (D&I) in law firms•Unconscious bias—law
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