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STANDARD SECURITIES

QA. I am drawing up a Standard Security for first registration, and intend to describe the subjects as being those in a Disposition "registered in the Land Register of even date herewith". Will this be acceptable to the Keeper?

A. The description in a Standard Security must comply with the requirements of Note 1 to Schedule 2 to the Conveyancing and Feudal Reform (Scotland) Act 1970, as amended by Section 77(3) of the Abolition of Feudal Tenure (Scotland) Act 2000. In other words, the subjects must be described "sufficiently to identify them", although this is "without prejudice to any additional requirement imposed as respects any register". In view of the terms of Section 29 of the Land Registration (Scotland) Act 1979, the words "registered in the Land Register of even date herewith" do not constitute a statutory reference description. However, the Keeper is able to overlook such a reference if the subjects are otherwise adequately described. Where the Standard Security accompanies a Disposition which contains a description which relies on a plan, the best course is normally to annex a copy of the same plan, with a suitable docket, to the Standard Security and to repeat the description given in the Disposition.

QB. I am acting for a heritable creditor exercising a power of sale under a Standard Security. Will the Keeper require to see the Calling-up Notice etc.?

A. The Keeper relies on the answer given to question 10 on Form 1 (or the equivalent questions on Forms 2 and 3). If the question is answered in the affirmative, the Keeper does not ask to see evidence of the statutory powers.

QC. Question 10 on Form 1 is not applicable if the exercise of power of sale is earlier in the prescriptive progress. In that case, will the Keeper need to see the evidence?

A. No. The Keeper considers he is adequately protected by the answer to Question 14 on Form 1, which will be taken as inter alia an assurance that the evidence of the power of sale is satisfactory.


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