Restriction on land

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1

sharon474

User avatar
Posts: 1
Joined: Fri Feb 07, 2020 8:51 am

Post by sharon474 » Fri Feb 07, 2020 8:51 am
Hi I entered into an IVA in August last year and just received a letter from the Land Registry to say they are putting restrictions on the land what does this mean it seems really worrying. I have paid my IVA on time every month

Foggy

User avatar
Forum Expert
Posts: 30208
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Feb 07, 2020 9:10 am
It is standard practice so that the IP is informed if you try to sell or raise finance as the equity would be payable into the IVA if you did.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

User avatar
Forum Expert
Posts: 75373
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Feb 07, 2020 9:53 am
Nothing to worry about at all.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Lisa Thomas

User avatar
Industry Expert
Posts: 7689
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Fri Feb 07, 2020 10:07 am
It's standard practice to register the IVA interest in the land and stop you from selling it without declaring the sale/paying any relevant proceeds into the IVA.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”