Legal Question in Credit and Debt Law in United Kingdom
owed money
i loaned my brother-in-law a large sum of money (�80,000) in a emergency so no contract was signed but i have proof from the bank i transfered the money to him. i'm now getting anxious as its been 6 months with no sign of repayment. The money was loaned on conditions i got it back once they sold their house if not sooner but they still haven't put the house on the market! The person i lent the money is willing to sign whatever i need. Am i too late to get the loan secured on their house? or what can i do the secure my money?
1 Answer from Attorneys
Re: owed money
Providing that this loan was made less than 6 years ago there should be no problem in getting a charge secured on your brother's house. It will be necessary first to get a court judgment and you should then apply for a charging order. A later application for an order for sale can be made if required.
If we can help in any of this let us know
Regards
Andrew Dutton
www.legal-zone.co.uk
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