Bankruptcy and Diligence etc. (Scotland) Act 2007

Yn ddilys o 01/04/2008

111 Title of purchaser not to be affected by certain irregularities S

(1) Where a disposition bearing to be granted in execution of a warrant for sale is registered in the appropriate property register, the validity of that disposition is not, if the conditions mentioned in subsection (2) below are satisfied, challengeable on the ground—

(a) that the land attachment was irregularly executed; or

(b) that, before the date of settlement of the sale, the land attachment had ceased to have effect.

(2) The conditions are that—

(a) the purchaser acted in good faith in relation to the purchase of the land; and

(b) the appointed person grants a certificate, in (or as nearly as may be in) the form prescribed by Act of Sederunt, to the purchaser confirming that the land attachment was regularly executed.

(3) In subsection (2)(a) above, a purchaser is deemed to have acted in good faith where, immediately before the date of settlement, the purchaser was not aware and could not reasonably have become aware that the land attachment was irregularly executed or, as the case may be, that it had, before that date, ceased to have effect.

Commencement Information

I1 S. 111 partly in force; s. 111 not in force at Royal Assent see s. 227; s. 111(2)(b) in force for certain purposes at 1.4.2008 by S.S.I. 2008/115, art. 3(4), Sch. 3 (with arts. 4-6, 10)