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.