Charging Order Absolute Incumberance

Posted by SweetSue (308 days ago)

Looking for advise on a home sale for a rental unit we are considering as the present owner has had a charging order absolute placed on the property

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Posted by walkup (307 days ago)

...this is a sale or a rental you are making? not 100% sure from your message above....also what is the nature of the charging order?....anyway on a general note if you sign a purchase/rental agreement and you are aware there is an issue then have the responsibility for any charge written as an addendum to the contract and signed by both parties. Where there is a purchase your lawyer should also find if there are any 'attachments' to the property and advise any wording that might be attached to the sale agreement.

Posted by SweetSue (304 days ago)

We found there is a plantiff/creditor making this order against the property owner and learned that a charging order is a hybrid legal action, a blend of a lien and a garnishment combined into one claim. A Charging order is designed to give remedy to taking a partners economic interests

Posted by walkup (303 days ago)

In effect the charge order may act as a block on the owner being able to do anything with the property as the creditor now has an interest in it. The owner should therefore seek to discharge the order. As for yourself you may need to stand back from the proposed sale/rental until advised otherwise by your lawyer who you should now consult for further guidance.