F23Vesting of estate in trustee
31 Vesting of estate at date of sequestration.
1
Subject to section 33 of this Act F1and section 91(3) of the Pensions Act 1995, the whole estate of the debtor shall F2, by virtue of the trustee's appointment, vest F3in the trustee as at the date of sequestration F4. . . for the benefit of the creditorsF5. . .
a
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
F61A
It shall not be competent for—
a
the trustee; or
b
any person deriving title from the trustee,
to complete title to any heritable estate in Scotland vested in the trustee by virtue of his appointment before the expiry of the period mentioned in subsection (1B) below.
1B
That period is the period of 28 days (or such other period as may be prescribed) beginning with the day on which—
a
the certified copy of the order of the sheriff granting warrant is recorded under subsection (1)(a) of section 14 of this Act; or
b
the certified copy of the determination of the Accountant in Bankruptcy awarding sequestration is recorded under subsection (1A) of that section,
in the register of inhibitions.
2
3
Where the debtor has an uncompleted title to any heritable estate in Scotland, the F7. . . trustee may complete title thereto either in his own name or in the name of the debtor, but completion of title in the name of the debtor shall not validate by accretion any unperfected right in favour of any person other than the F7. . . trustee.
4
Any moveable property, in respect of which but for this subsection—
a
delivery or possession; or
b
intimation of its assignation,
5
Any non-vested contingent interest which the debtor has shall vest in the F7. . . trustee as if an assignation of that interest had been executed by the debtor and intimation thereof made at the date of sequestration.
F115A
Any non-vested contingent interest vested in the trustee by virtue of subsection (5) above shall, where it remains so vested in the trustee on the date on which the debtor's discharge becomes effective, be reinvested in the debtor as if an assignation of that interest had been executed by the trustee and intimation thereof made at that date.
6
Any person claiming a right to any estate claimed by the F7. . . trustee may apply to the F12sheriff for the estate to be excluded from such vesting, a copy of the application being served on the F7. . . trustee; and the F12sheriff shall grant the application if F13he is satisfied that the estate should not be so vested.
7
C1C28
In subsection (1) above F15, subject to section 31A of this Act, the “whole estate of the debtor” means F16, subject to subsection (9) below F17F18 and to F19sections 71(10B), 78(3B) and 89(2) of the Social Security Administration Act 1992, his whole estate at the date of sequestration, wherever situated, including—
a
any income or estate vesting in the debtor on that date;
F20aa
any property of the debtor, title to which has not been completed by another person deriving right from the debtor; and
b
the capacity to exercise and to take proceedings for exercising, all such powers in, over, or in respect of any property as might have been exercised by the debtor for his own benefit as at, or on, the date of sequestration or might be exercised on a relevant date (within the meaning of section 32(10) of this Act).
F219
Subject to subsection (10) below, the “whole estate of the debtor” does not include any interest of the debtor as tenant under any of the following tenancies—
a
a tenancy which is an assured tenancy within the meaning of Part II of the M1 Housing (Scotland) Act 1988, or
b
a protected tenancy within the meaning of the M2 Rent (Scotland) Act 1984 in respect of which, by virtue of any provision of Part VIII of that Act, no premium can lawfully be required as a condition of the assignation, or
F22c
a Scottish secure tenancy within the meaning of the Housing (Scotland) Act 2001 (asp 10).
10
On the date on which the F7. . . trustee serves notice to that effect on the debtor, the interest of the debtor as tenant under any of the tenancies referred to in subsection (9) above shall form part of his estate and vest in the F7. . . trustee as if it had vested in him under section 32(6) of this Act.
Cross-heading preceding s. 31 substituted (1.4.2008) by virtue of Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 36, 227(3), Sch. 1 para. 30(6) (with s. 223); S.S.I. 2008/115, art. 3(1)(i) (with arts. 4-6, 10 (as amended (with effect from 31.1.2011) by S.S.I. 2011/31, art. 5))