Charging Orders - Everything You Need to Know
Undoubtedly one of the most effective methods of enforcement or debt security is by way of charging order; whereby a charge or restriction is placed on a debtor’s property to ensure payment of the secured sum if/when that property is sold.
Such orders are especially helpful when securing larger sums of debt and when cash payment of the sum is not required immediately. They are most effective when there is substantial equity in the property and the judgment debtor is the sole owner.
The process of obtaining a charging order can be reasonably straight-forward and efficient, provided you are knowledgeable of the process and the various paperwork involved.
For lawyers with clients of any shape, size, variety or specialism, debt recovery and subsequent enforcement action is likely to be an important skill in the coming weeks and months. Whilst obtaining a court judgment against a debtor is a first step, securing that debt so that physical cash can then be recovered is essential.
This new virtual classroom seminar will explore the charging order process from start to finish, including the documentation required, the likely timescales involved, the applications and court attendances necessary, and the process of registering the order with the Land Registry.
It will also consider the implications that a charging order will have, both on the creditor and debtor, and the further steps that can be taken to release cash from the property if or when needed.
What You Will Learn
This live and interactive session will cover the following:
- What is a charging order?
- When to apply, the court to which you need to apply, and the application forms required
- What if there is more than one asset to be charged?
- Should an application be made on notice?
- Applying for and obtaining an interim charging order, and its subsequent effects
- Applying for and obtaining a final charging order
- Effecting service correctly
- Registering the charging order with the Land Registry
- Costs involved, including interest, and recovery of the same
- How to release monies from the property once order is in place
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.