Part 3 Confiscation: Scotland

Interpretation

150 Property: general provisions

(1)

Property is all property wherever situated and includes—

(a)

money;

(b)

all forms of property whether heritable or moveable and whether corporeal or incorporeal.

(2)

The following rules apply in relation to property—

(a)

property is held by a person if he holds an interest in it;

(b)

property is obtained by a person if he obtains an interest in it;

(c)

property is transferred by one person to another if the first one transfers or grants an interest in it to the second;

(d)

references to property held by a person include references to his property vested in his permanent or interim trustee (within the meaning of the Bankruptcy (Scotland) Act 1985 (c. 66)), trustee in bankruptcy or liquidator;

(e)

references to an interest held by a person beneficially in property include references to an interest which would be held by him beneficially if the property were not so vested;

(f)

references to an interest, in relation to land in England, Wales or Northern Ireland, are to any legal estate or equitable interest or power;

(g)

references to an interest, in relation to land in Scotland, are to any estate, interest, servitude or other heritable right in or over land, including a heritable security;

(h)

references to an interest, in relation to property other than land, include references to a right (including a right to possession).