REGISTRABLE
TRANSACTIONS
QA.
Which deeds induce First Registration?
A. See our leaflet
'Which
Register?'
QB.
I am acting for a client who is separating from his wife and she
is transferring to him her half share of the house they own jointly.
Does this transaction induce First Registration?
A.
A conveyance on marital separation or divorce e.g. a disposition
for certain good and onerous causes or a conveyance in exchange
for taking over financial obligations under a loan are considered
by the Keeper to be for a valuable consideration and therefore induce
registration. If the deed transfers only a one half share the Keeper
will accept a voluntary registration of the remaining half share
at the agents request but registration dues will then be payable
on the value of the whole property.
QC. Does a Contact of
Excambion where no consideration is passing induce First Registration?
A.
Yes. The counter Disposition to each transaction is considered to
be a "valuable consideration".
QD. Does a gift of property
in the form of a Disposition for love, favour and affection induce
First Registration?
A.
No.
QE. Does a Deed of Servitude
induce First Registration?
A.
No. This applies even when it is granted for a consideration. (Land
Registration (Scotland) Act 1979 - Section 2(2)).
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