Q&As

We have a charging order secured against a property, which is protected by way of a UN1. The defendant company has a restriction registered against the title which pre-dates the charging order. The debenture is noted as a restriction and not as a legal charge on the title. Our charging order is protected by way of a UN1. Does the fact that the debenture is not entered by way of a legal charge on the title document in any way promote our interest above that of the debenture?

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Published on: 03 December 2015
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What is a charging order?

A charging order secures a debt by creating an Equitable charge so that, when the property is sold, the creditor will receive payment out of the sale proceeds after the repayment of all mortgagees and other charge holders with Priority. (Charging Orders Act 1979, s 3(4)).

For further guidance, see Charging orders—overview.

What is a unilateral notice?

A creditor can protect the priority of a charging order over a legal estate, if it is valid, for the purposes of the Land Registration Act 2002, ss

Victoria Jones
Victoria Jones

Freeths

Victoria has over 17 years’ experience as a commercial litigator, with a particular expertise in property litigation, and has been a professional support lawyer, both for law firms and on a freelance basis, since 2010.

Victoria is currently an associate and professional support lawyer at Freeths, where she provides technical support to the Dispute Management lawyers across all offices. This includes: developing and maintaining the know-how folders with precedents and guidance notes; ensuring that lawyers and clients are kept up to date on developments in the law; delivering and organising training; and undertaking research.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Equitable charge definition
What does Equitable charge mean?

A charge is a security interest by which property is made available for the payment of a debt or the performance of some other obligation.

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