Q&As

Where a puisne mortgage is registered against title to land and the lender (a limited company) has been dissolved (a) from whom should a release be sought? (b) what is the process for obtaining release and removal of the entry against the title? and (c) is there any limitation period on enforceability of claims by a company which applies after a company has been dissolved?

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Produced in partnership with Chris Bryden of 4 King’s Bench Walk
Published on LexisPSL on 31/10/2018

The following Property Disputes Q&A produced in partnership with Chris Bryden of 4 King’s Bench Walk provides comprehensive and up to date legal information covering:

  • Where a puisne mortgage is registered against title to land and the lender (a limited company) has been dissolved (a) from whom should a release be sought? (b) what is the process for obtaining release and removal of the entry against the title? and (c) is there any limitation period on enforceability of claims by a company which applies after a company has been dissolved?

Where a puisne mortgage is registered against title to land and the lender (a limited company) has been dissolved (a) from whom should a release be sought? (b) what is the process for obtaining release and removal of the entry against the title? and (c) is there any limitation period on enforceability of claims by a company which applies after a company has been dissolved?

A puisne mortgage is a legal mortgage which is not secured by a deposit of documents relating to the legal estate effected by the mortgage—ie one where the mortgagee does not take the deeds—see: section 2(4) of the Land Charges Act 1972 (LCA 1972). It is protected by a Class C land charge (see: LCA 1972, s 2(1) and 2(4)(i), which provides security to the lender in the event that the mortgaged property is disposed of).

Where a company has been dissolved, its rights and assets vest in the Treasury Solicitor as bona vacantia (section 1012 of the Companies Act 2006). Assets include interests in land, and therefore would include the legal mortgage. The role of the Treasury Solicitor is to sell any assets at the best

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