Bit of a strange one. Trying to sort out my parents finances as they have had some difficulties. Basically my parents had a retail shop that was repossessed, the lender sold the property to recover their mortgage but they sold it for under the mortgage value. Shocking and outrageous but they weren’t in the financial or mental position to object.
they therefore held my parents responsible for this shortfall (very large amount). I am not sure what legal steps were taken etc as I was a kid during this. Anyway we are in the process of selling their family home and have seen a unilateral notice in the benefit of the mortgage company on their title register - there are no other charges just a UN.
Plot twist - the original mortgage company was dissolved pre pandemic. The last correspondence I can find in my parents records is from 2017 from their lawyers giving us a balance of the debt ( I took over their affairs in 2018 so fairly certain nothing has come since) no other 3rd parties have written to us taking ownership of the debt etc. had a look at the final gazette and it says the company had no assets so no dividends were paid to creditors. What makes this a weirder one is that the reason the company went bankrupt was they had been sued by another mortgagee saying their mortgage was breached due to the T&Cs, so I question the validity of this “debt”
anyway we have submitted a UN4 to HM Land Registry and they have written to the beneficiary but they won’t tell me where / who ? Is it the original lawyers or the last registered address as per companies house ? And what is normal in this situation and what is the likely outcome ? And advice or insight would be much appreciated