Part 7Repayment charges

173Effect of registering repayment charges etc.

1

A registered repayment charge is conclusive evidence that the charge specified in it has been created in respect of the F2property specified in it.

2

A registered repayment charge constitutes a charge on the F3property specified in it and has priority over—

a

all future burdens and incumbrances on the same F3property, and

b

all existing burdens and incumbrances on the same F3property except any charges created or arising under—

F1i

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

ii

any local Act authorising a charge for recovery of expenses incurred by a local authority,

iii

Schedule 9 of the 1987 Act,

iv

section 172, or

v

any Act authorising advances of public money.

3

A registered repayment charge is enforceable at the instance of the local authority against any person deriving title to the charged F4property.

4

But it is not enforceable against—

a

a third party who acquires right to the charged F5property (whether title has been completed or not) in good faith and for value before the repayment charge is registered, or

b

any person deriving title from such third party.

5

A registered discharge of a repayment charge is conclusive evidence that the charge concerned has been discharged.