Q&As

When dealing with an insolvent estate, do registered charges (ie mortgages) take priority over debts secured by restrictions (ie County Court judgment debts) or are they all classed as ‘secured debts’ and given the same priority?

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Produced in partnership with Chris Adams of Gosschalks
Published on LexisPSL on 26/04/2018

The following Restructuring & Insolvency Q&A produced in partnership with Chris Adams of Gosschalks provides comprehensive and up to date legal information covering:

  • When dealing with an insolvent estate, do registered charges (ie mortgages) take priority over debts secured by restrictions (ie County Court judgment debts) or are they all classed as ‘secured debts’ and given the same priority?

When dealing with an insolvent estate, do registered charges (ie mortgages) take priority over debts secured by restrictions (ie County Court judgment debts) or are they all classed as ‘secured debts’ and given the same priority?

Between themselves, legal mortgages are ‘registrable dispositions’ and rank in priority in the order shown in the charges register for the property and not in the order of the date they were created, subject to any entry in the register to the contrary (see section 48(1) of the Land Registration Act 2002 (LRA 2002) and the Land Registration Rules 2003 (LRR 2003), SI 2003/1417, r 101). You may find useful Practice Note: Effect of

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