My husband is in an Iva agreement. We own a house as tenants in common. They say I should sign to agree to a charge being put on the property. Is that correct. I feel that somehow makes me liable to his debts. I don't want to sign to put the charge on the property unless I have to. What is correct,can I refuse to sign or not?
You can refuse. However, this will possibly result in the IVA being failed. The RX1 is not a charge, merely a flag on the deeds to inform purchasers, should you try to sell, that there is another interest in the property, and also alert the IP of an attempt to sell.
At the end of his IVA he will be required to attempt to release a portion of his share of equity, not yours.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
