Titles to Land Consolidation (Scotland) Act 1868

150 Debts affecting lands exchanged for other lands to affect such other lands in lieu thereof. U.K.

When any lands disponed before or after the commencement of this Act, under the authority of an Act of Parliament, in excambion for other lands, are burdened with debts, the lands so disponed shall, from and after the date of registration, whether before or after the commencement of this Act, in the appropriate register of sasines of the contract or deed of excambion of such lands, be freed and disburdened of such debts so far as previously affecting the same, and shall be burdened with the debts, if any, which previously affected the lands acquired in exchange for the same, in the order of preference in which such debts were a burden upon such last-mentioned lands: Provided always, in the case of excambions after the thirty-first day of December one thousand eight hundred and sixty-eight, that before any such excambion is authorized (in addition to such procedure as may be prescribed by such Act) such intimation as the Court of Session may consider necessary shall be made to all creditors having interest, and such creditors shall be entitled to state any objections thereto, of which the Court shall judge: Provided also, that in such contract or deed of excambion, whether executed before or after the commencement of this Act, or in a schedule subscribed as relative thereto, and declared to be part thereof, and recorded therewith, there have been or shall be set forth as to each of the said debts the following particulars; namely, the amount of the debt, the date of recording the writ by which its constitution was originally published, the register in which the same was so published, the name and designation of the original creditor, and, if the debt has been transferred, the name and designation of the creditor understood to be in right thereof for the time, and the date of recording the writ whereby his right was published, and the register in which the same was so published: Provided further, that in such contract or deed of excambion such debts have been or shall be expressly declared to burden the lands to which the same are transferred as aforesaid.