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Is a a charge ( under mesher terms ) transferable

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29 Aug 12 #352508 by mrbobble
Topic started by mrbobble
Hello, first post please go easy. I have spent some time looking for the answer to this but damned if i can find it. The ex and i split up around 8 years ago, the ex has a small interest ( protected by a charge ) under mesher terms against the home that i live in with the children that becomes payable when the youngest finishes FT education. Can the EX transfer that charge to someone else, or could it form part of their estate that they can leave to whoever ( should EX predecease the youngest child finishing FT education ).
TIA

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29 Aug 12 #352512 by LittleMrMike
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I can''t see any reason why not, in both cases.

LMM

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29 Aug 12 #352516 by mrbobble
Reply from mrbobble
LittleMrMike wrote:

I can''t see any reason why not, in both cases.

LMM


thx for reply, tbh. i thought the same as you. i have read the current court order over and over and it is very specific in that the charge is in favour of the ex. having experienced the quirks of english law, i have doubts if it is transferable without an amended court order or something.

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29 Aug 12 #352523 by dukey
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I suspect the charge cannot be transferred without the consent of the owner or a further order of court.

It is part of the holders estate though.

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29 Aug 12 #352528 by LittleMrMike
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Dukey, what mrbobbie''s (ex) husband has is the right to receive a certain sum of money at some unspecified time in the future.

Given that a Court order is normally final and cannot be changed, I see no reason in principle why he cannot dispose of what he has, which at the moment is sweet FA, but in the fulness of time he will get something.

I recall only too vividly my time in America when we were SATURATED with advertising from a firm called JG Wentworth, whose '' speciality '' is buying out structured settlements ( an arrangement whereby a litigants gets his damages spread over a number of years as opposed to one lump sum. Their slogan ( how could I forger it ? ) was I want my cash NOW , and i muttered, yes, live now and pay later.

I can''t see any legal objection to it as a principle but the practical difficulty is that the amount of the payout can''t be predicted at this stage and so any agreement to pay money now in exchange for the right to receive an unspecified sum is - well, slightly risky.

Mike

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29 Aug 12 #352531 by dukey
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Your probably right Mike, i just have a gut feeling its not as straight forward as it first appears, reading some of the standard wording for mesher type orders they seem worlds away from the wording used to release equity, lets say if you went to a bank.

Maybe i`m miles off here, maybe it is as simple as it seems, i just have this small red light flashing in my noggin that means EPIC FAIL, oh and you can all thank a teenager for that phrase.

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01 Sep 12 #353162 by mrbobble
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thank you for your replies and thoughts on this. I kinda get the impression the charge can be part of an estate but cannot be transferred or sold on.

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