Form LRA 54 - Informal Charge

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An informal charge is a type of land-based security where the Chargor (landowner) deposits title documents or otherwise charges their interest in land to a Chargee (usually a lender, such as a bank) without executing a full formal charge instrument.

The main purposes of this form are:
1. To allow a flexible method of creating security over land, particularly when parties opt for an informal arrangement.
2. To ensure the informal charge is recognized and registered in the land register for legal protection.
3. To provide the Chargee (lender) with enforceable security over the Chargor’s land in the event of loan default.
4. To protect the Chargor by ensuring the arrangement is documented, acknowledged, and compliant with the Land Act and Land Registration Act

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Form LRA 54 - Informal Charge

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