Mrpaul81 wrote:The charge was mistakenly put on the garden only. (house was built outside area of planning), and outside of folio
So the garden has a different title and the house was sold without the garden ?? The charge, then, would have been placed (albeit in error) on the garden land and still be there. Doesn't have to be bricks and mortar to be security.
This is a mess and, as Kallis says, I would suggest you take legal advice.
Mrpaul81 wrote:The house was just gifted to my brother ...for safe keeping... :
Depending on how the courts view this whole thing it is possible that they could overturn the transfer unless they accept that the charge was on the garden only and hasn't been released. This could see the house safe, but the mortgage company can still reposses the garden. sell it (obviously for far less that the mortgage) and you would them owe the shortfall. I still think, bearing in mind I cannot see all the facts / details and paperwork, that the mortgage (whatever it was secured on) was not included in the IVA and written off and, it seems, so does the lender.
Mrpaul81 wrote:If the lender was to bankrupt me, would they be able to reverse the transfer on the grounds that i was doing it to avoid paying debts? Its a bit hypothetical i understand.
They might, but would have to overcome the complication of the house itself not being under a charge (which was, possibly, placed on the garden alone). Although the house itself is an asset, the disposal of which, as the transfer was not so long ago and at an undervalue, could be viewed as a device intended to deprive creditors of an asset.
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