charges on property - personal liability?

[paretob]

there are 3 charges on a freehold which I am one of the registered owners. The other owner of it wishes to have his name removed, leaving me as the sole owner. When the property is sold, if the sale price does not coverall the charges, do I become liable for the outstanding charges?

[dzug]

I'd have said no - unless the debts to which the charges relate were your own in the first place.

But I'm using logic, not law, to arrive at that conclusion

[bushbaby_de]

My understanding is that, to remove the other owner's name, there is a transfer over to you. Whoever has the charge on the property can claim their money back whenever there is a transfer, so whoever has the charge on the property would receive what they are owed from the money that changes hands when the property is transferred.

[johnnybriggs]

There are 2 issues there. It depends who owes the money that is secured on the house. Your co owner can remove their name from the property but they can't just remove their liability for the debt. Maybe ask this at a more expert forum like www.talkaboutdebt.co.uk