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Rx1 land registry
Posted: Wed May 25, 2022 5:56 pm
by Ashpizey
Just set up an iva but ip as said rx1 form land registry is in place(application to enter restriction). Any ideas please
Re: Rx1 land registry
Posted: Wed May 25, 2022 6:48 pm
by Foggy
It is common practice to lodge an RX1 at Land Registry when a house owner enters an IVA. This places a restriction on the title deeds so that the IP is warned if you try to sell the property. This is because any equity release from a sale would be payable to creditors. When the IVA completes successfully the restriction will be removed with an RX4 --- it is best to remind your IP at that stage and to get confirmation that this has been done.