Debts Securities (Scotland) Act 1856

2 Court of Session may regulate judicial sales of estates. Sales may precede ranking. U.K.

The Court of Session shall have full power to make acts of sederunt for abridging the forms of publication and citation, and regulating the proceedings in processes of sale, ranking, and division, whether at the instance of creditors or of apparent heirs; and in every case of a sale under the authority of the Court of Session it shall be lawful for the purchaser, at any term of Whitsunday or Martinmas subsequent to the term of payment of the price, to lodge the price, with the interest due upon it, in any joint stock bank of issue in Scotland, as such interest as can be procured for it, by doing which, and by giving notice thereof to the agent who carried on the sale, he shall be discharged of the said price; and further, the Court of Session, upon the application of any of the creditors, shall be empowered to make an order on the purchaser to lodge the price and interest, at any of the said terms subsequent to the term of payment, in one or other of the said banks, sufficient intimation being always previously given, both to the purchaser and to the common agent for the creditors, that such application is made, in order that all parties may have an opportunity to object; and in all cases of judicial sales the lands or other heritable property may be brought to actual sale, so soon as the necessary previous steps are taken, whether the ranking be concluded or not, unless the Court, upon application of any party concerned, shall find sufficient cause to delay the sale.