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Thomas, Lawyer
Category: UK Law
Satisfied Customers: 7620
Experience:  BA (Hons), PgDip, Practising Solicitor
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Can my house be at risk due to action against my company of

Customer Question

Can my house be at risk due to action against my company of which I am co-director? The property is co-owned with my partner who has the majority stake.
Submitted: 1 year ago.
Category: UK Law
Expert:  Thomas replied 1 year ago.


Thanks for your patience

Do you own the property in your personal name and not the company name?

Kind regards


Customer: replied 1 year ago.
Personal name- I work in a back room but its a family home. Customer is threatening to 'put a CCJ on it'.
Expert:  Thomas replied 1 year ago.


Thank you for your question and patience, I’m Tom and I’ll try to help you.

If the debt is only owed by the company and not you then they would not be successful in doing this. In these circumstances they would only be able to obtain judgement against the company. If they property is in your personal name then they would not be able to register a charge against it to secure a debt owed only by the company.

If the debt is owed by you personally and not the company, or if you guaranteed the debt owed by the company in your personal name, then once they could obtain judgement against your personal name then they can apply for a charging order on the property. First they would apply for an interim charging order and then a final charging order.

However, they would only receive a charging order in respect of your share of the equity of the property. Your partner’s share of the equity would be ring-fenced and protected from the charge. Therefore, your partner would not receive any less monies than if the charge was not registered against the property.

In summary, if it is purely a company debt then they cannot get an order against the property at court. If they debt is also a personal debt then they can only get an order against your share of the equity of the property and not your partners.

My goal is to provide you with a good service. If you feel you have received anything less, please reply back as I am happy to address follow-up issues specifically relating to your question.

Kind regards,