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Thomas
Thomas, Lawyer
Category: UK Law
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Experience:  BA (Hons), PgDip, Practising Solicitor
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The Courts in the UK have very wide powers in disclaiming transactions

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The Courts in the UK have very wide powers in disclaiming transactions that were effected to try and avoid the enforcement of debts owed. If your creditors get judgement in this Country then they would be entitled to apply for an Court order to regain possesoin of the legal title and then an order for sale/charging order. They would be able to seek to claim their legal costs for the application from you.

CAN YOU EXPLAIN TO ME HOW THE SPANISH BANKS CAN APPLY FOR A COURT ORDER TO REGAIN POSSESSION OF LEGAL TITLE PLEASE? ALSO IF THE UK PROPERTY IS IN SOMEONE ELSE'S NAME THEN HOW WOULD THEY BE ABLE TO OBTAIN MONEY FROM ME THROUGH THIS PROPERTY? I DO NOT HAVE ANYTHING ACTUALLY PENDING, THIS MAY BE A YEAR OR SO THAT I MAY NOT BE ABLE TO PAY AND HAVE MY SPANISH PROPERTY REPOSSESSED, I AM FULLY UP TO DATE WITH PAYMENTS SO FAR. HOW CAN THE UK COURTS KNOW MY INTENTIONS OR THE REASONS BEHIND IT IF IT HASN'T HAPPENED YET? SURELY IF IN 12 MONTHS TIME THEY ARE NOTIFIED OF MY POSITION IN SPAIN, THEY AREN'T ABLE TO DISCLAIM THAT MY CHANGE OF OWNERSHIP WAS INTENTIONAL AVOID THIS?





If you have a mortgage on the property hen you would also not be able to transfer it to your brother's name without their consent this would not be forthcoming unless he was also prepared to be named on the mortgage.

WHO IS "THEIR" AS IN "WITHOUT THEIR CONSENT"? IF HE COULD PROVE HE COULD PAY THE MORTGAGE THEN WOULD THE BANK ACCEPT THIS OR WOULD HE HAVE TO APPLY FOR A MORTGAGE AND START FROM SCRATCH? WHAT ABOUT A DEED OF GIFT? IS THIS ONLY ABLE IF THERE IS NO MORTGAGE?

MANY THANKS,
Submitted: 6 years ago.
Category: UK Law
Expert:  Thomas replied 6 years ago.

Hi,

 

The Spanish company would first have to issue a claim against you for the monies owing. Once judgement is obtained they would then have to enforce it against you and your assets, this could include registering a charge against your property or an order for sale and could also result in their making investigations in to whether you have effectively defrauded them by siphoning off your assets to trusted persons so that they cannot enforce their debt against it.

 

I presume that your brother would not be paying full market value if any for the transfer, if this is the case then it is fairly obvious that the transaction is one at an undervalue which in effect defrauds your creditor. The prices listed in the transfer deed are recorded on the land registry title to each property so they could easily find out.

 

The 'consent' I was referring to is the consent of the lender who provided you with your mortgage (if you have one on the UK property). No transfer can be registered at the land registry without this.

 

Kind regards,

 

 

Tom

Customer: replied 6 years ago.

 

What about "deed of gift"? How does that work? Is it only possible if there is no mortgage?

Expert:  Thomas replied 6 years ago.

Yes, a mortgage are a first legal charge. over the property. This means very little can be done with the registered title of the property without their consent, certainly nothing relating to the ownership of it.

 

There really isn't a way around it I'm afraid and your best option is to engage with the Spanish lender on the issue to try and resolve any arrears issue that arises.

 

Tom

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