The following Property Q&A produced in partnership with Victoria Jones of Freeths provides comprehensive and up to date legal information covering:
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.
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 29–30 (LRA 2002 by registration at HM Land Registry by a unilateral notice using Form UN1. LRA 2002, ss 29–30 and 32.
The notice is entered in the charges register.
For further guidance, see Practice Notes: Registration of a charging order over land and Land registration—notices and priority under the Land
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