Part 13 S Social landlords and rural housing bodies: long leases and heritable securities

139 Heritable security redemption right S

In section 11 of the Land Tenure Reform (Scotland) Act 1974, after subsection (3) insert—

“(3A) The right to redeem a heritable security conferred by this section does not apply to a heritable security where—

(a) the debtor (or where the debtor is not the proprietor, the proprietor of the security subjects) has in writing renounced the right to redeem conferred by this section; and

(b) at the time of doing so that body is—

(i) a social landlord (within the meaning of section 165 of the Housing (Scotland) Act 2010);

(ii) a body connected to a social landlord (within the meaning of section 164 of the Housing (Scotland) Act 2010); or

(iii) a rural housing body (within the meaning of section 122(1) of the Title Conditions (Scotland) Act 2003).”.

Commencement Information

I1 S. 139 in force at 1.3.2011 by S.S.I. 2011/96, art. 2, Sch.