Implications for registration in Land Register: •    The transaction induces first registration of the lower fee and consolidation is effected in the Land Register (see section 2(1)(a)(iv)). Procedure: • Preferably, two applications for registration should be submitted: one on Form 1 in respect of the disposition and the other on Form 2 in respect of the minute of consolidation. However, as the applicant in both cases is the same, the Keeper is prepared to accept application on Form 1 only, provided there is a clear instruction on the Form 1 that he should give effect to both the disposition and the minute of consolidation. • The land certificate for the higher fee must be submitted. • No deed is recorded in the Sasine Register. 9.  Lower fee disponed, either for value or not for value. Granter’s title in Land Register. Title to higher fee in Land Register. Implications for registration in Land Register: • Consolidation is effected in the Land Register (see section 2(4)(a) and (b)). Procedure: • Preferably,  two  Form  2  applications  for  registration  should  be  submitted:  one  in  respect  of  the disposition and the other in respect of the minute of consolidation. However, as the applicant in both  cases  is  the  same,  the  Keeper  is  prepared  to  accept  application  on  a  single  Form  2  only, provided there is a clear instruction on the Form 2 that he should give effect to both the disposition and the minute of consolidation. • Both land certificates must be submitted. 10.Lower fee disponed, either for value or not for value. Granter’s title in Land  Register. Title to higher fee in Sasine Register. Implications for registration in Land Register: • Consolidation is effected by recording the disposition in the Sasine Register. • The title sheet for the lower fee is cancelled (see section 8(2)(b)). • A  creditor  who  has  registered  a  standard  security  over  the  lower  fee  will  be  prejudiced  by  the cancellation of the title sheet. The standard security will no longer relate to a registered interest, and the Keeper’s indemnity will no longer apply. Attention is drawn to paragraph 6.77.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	< Previous Page | Next Page >