PART 3 FEUDUTIES
Arrears
13 Arrears of feuduty etc.
1
Feuduty shall continue to be exigible for any period before the appointed day; and if (in so far as so exigible) it has not fallen due before that day, it shall fall due on that day.
2
On the appointed day feuduty shall cease to constitute a debitum fundi as shall any amount secured, in favour of a superior, by virtue of section 5 of the Land Tenure Reform (Scotland) Act 1974 (c.38) (redemption on transfer of land).
3
The superior’s hypothec is, on the appointed day, abolished.
4
Subsections (2) and (3) above are without prejudice to any—
a
action—
i
founded on a debitum fundi or superior’s hypothec; and
ii
commenced before the appointed day; or
b
right or preference—
i
so founded; and
ii
claimed in a sequestration, or in some other process in which there is ranking, commenced before that day.