What Is a Legal Charge on Property?

Answer

A legal charge on a property is a document that is held by Land Registry which outlines the person who holds the first charge on a property. It is a security to ensure payment of debt. A legal charge also prevents the property being sold without the financial interest of a property being repaid.
3 Additional Answers
The legal charge on a property is document held by Land Registry which outlines who holds the first right on a property. The first charge is a legal right, which its owner has the right to decide on what to do with the property, if a borrower fails to maintain agreed repayments.
The legal charge on property is document held by Land Registry which outlines who holds the first charge on a property. It is taken as a form of security to ensure the payment of a debt. It grants rights of security over your property to the Lender. The lenders will charge different amounts some lenders will use a charge for the specific amount that they have lent while others will use an all monies charge, which secures all borrowing the owner, has with them.
In the UK, legal charge is a document held by the land registry. It outlines who holds the first charge on a property.
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