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Selling property but trying to get secured party, principle lien position
As title, I’m currently selling a rental property which has a mortgage. I’ve been trying to place a principle lien, secured party creditor on it however even after following Marks process I’m struggling to get it right. As I’m in UK this has to be done through Companies House using a MR01.MR08 or MR09 form. These are quite different to UCC forms and apparently the UK doesn’t operate under the UCC.
Any pointers greatly appreciated.
John
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2 Replies
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Why do you need this if you are selling it?
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Hi Morag,
Yes I’m selling it to fund another project. I’m experimenting trying to put a principle lien position/secured party creditor charge on it, might prevent mortgage company taking a big chunk of it? Once I perfect process I’ll do same on all assets. Things are different here in UK as apparently the UCC isn’t recognised and they don’t make it easy at companies house to put a charge on assets.
John