Charges on house

S

Savannah

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Hi is there a time limit for charges on a house.
Billy had a house he let a charge on house for 10k over 25 years ago for john. John who had the charged died nearly 6 years ago and billy died recently no mention of charge in billys will. Executors to john want payment. As charge is so.old and John dead a number of years is it statue barred?
 
Savannah, You're a little bit short on detail.

If the charge is a registered charge in respect of a loan, it remains as a burden on the house until paid
If its a judgment mortgage, it expires after 12 years

The questions are :
Who inherited Billy's house ? Was it is wife ?
If its a registered charge and the house was NOT inherited by Billy's wife, then its likely that the executors of Billy's will or the inheritors
will not be able to sell Billy's house without first removing the burden ( ie repaying the loan)

I would also be investigating if the loan may have been repaid earlier but the parties neglected to remove the charge

If the executors of John's will are digging their heals in and Billy's house has to be sold, then maybe a negotiated compromise might
be reached
 
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