www.iva.co.uk

Posted: **Mon Aug 20, 2007 10:22 pm**

Could anyone explain what a Unilateral Notice is with regard to property?

Debbie

Posted: **Mon Aug 20, 2007 10:27 pm**

A Unilateral Notice can be registered without the proprietor's consent, and register a third party's interest in part or all of the beneficial interest in a property. They can be used by creditors to register their interest.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Mon Aug 20, 2007 10:34 pm**

Is that the same as a 'charge' then Melanie, could it affect the ability to be able to re-mortgage?

Posted: **Mon Aug 20, 2007 10:35 pm**

Not as formal as a charge - but it would be questioned if you were to remortgage. Who has issued you with such paperwork?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Mon Aug 20, 2007 10:39 pm**

This is almost the same as a "Charging Order" where an unsecured creditor can register a Unilateral Notice against the title of a property.

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

Posted: **Tue Aug 21, 2007 7:52 am**

You may recall the ongoing saga of the Landlord from an old business that I had transferred but was still liable for the lease paymenets of Melanie and which put the death knell on what was otherwise a very successful IVA. We are right on the verge (likely the end of this week) of re-mortgaging to make a full and final settlement (which all my creditors in the IVA have already agreed to) and to pull in the landlord, when each will receive 36p in the £1 settlement, the alternative being bankruptcy. The Landlord has now registered this notice with the land Registry so I suspect it will sound the death knell on the re-mortgage

... thus he has kind of cut his nose off to spite his face as far as i can see.

I think it will be bankruptcy, indeed am almost hoping now ... fresh start and all that. Having got my head around the psychological and emotional aspects over the last few months even my accountant agrees that it might be the best option ... I shall lose my house but not my home as I am currently living in my daughters house and she in mine and she is very happy to rent for a few years.

Thanks for all your help once more.

Debbie

Posted: **Tue Aug 21, 2007 8:57 am**

Have faith - most commercial organisations are tempted by money, and they will get a much lower return than in bankruptcy! You landlord is just trying to secure his position, in the event that the variation is not accepted. This should not scupper your mortgage, as credit checks will already have been carried out presumably.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Posted: **Tue Aug 21, 2007 9:11 am**

That's the crazy thing Melanie, I am actually quite a safe bet as far as the mortgage is concerned! Thanks for your confidence boost

Debbie

Posted: **Tue Aug 21, 2007 3:58 pm**

how does one come to know of unilateral notice on a property? will the debtor be informed?

hara.

Posted: **Tue Aug 21, 2007 4:06 pm**

Hi
I guess you could do an online search with the land registery.However they probably come to light only after a solicitor does a land registry search themselves when dealing with a house sale or similar
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Tue Aug 21, 2007 4:14 pm**

As I am in an IVA, how does that affect me?

hara.

Posted: **Tue Aug 21, 2007 4:16 pm**

All my unsecured creditors are listed in IVA.I am wondering whether american express has tried such a trick.

hara

Posted: **Tue Aug 21, 2007 4:18 pm**

Hi
I doubt it as it would be a waste of their time and money as they are bound by your IVA.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Tue Aug 21, 2007 4:20 pm**

Thanks Mr.Davie.

This site is a boon to all troubled souls like me.

hara

Posted: **Tue Aug 21, 2007 6:17 pm**

Hara

The notice has to be formally served on you - so you will find out about it via the postman!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk