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Shared house, loaned money, how is this treated?

LittleMrMike
Platinum Member

08 Sep 16 #483452 by LittleMrMike

Reply from LittleMrMike

I'm afraid I would have to see the document.

It's perfectly possible to have a loan agreement which provides for the repayment of a loan by agreed instalments or in some other manner.

The whole point of having a charge is that, if the loan is not paid as per the arrangement, the creditor can enforce a sale of some of the creditor's property and recover the money that way.

However it may not be too late ; if the money is still outstanding it may be possible to you to apply to the Court for a charging order.

But I can't possibly advise on a document I have not seen.

LMM

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