Titles to Land Consolidation (Scotland) Act 1868

124 Securities to be transferred in the form prescribed. U.K.

Where an heritable security, whether dated before or after the passing of this Act, has been constituted by infeftment, whether such infeftment has been taken by recording the security or an instrument thereon in the appropriate register of sasines in terms of this Act or any of the repealed Acts, or by any mode competent or in use prior to the thirtieth day of September one thousand eight hundred and forty-seven, in the appropriate register of sasines, the right of the creditor therein may be transferred, either in whole or in part, by an assignation or other conveyance in the form, or as nearly as may be in the form of schedule (GG.) hereto annexed; and on such assignation or conveyance being recorded in the appropriate register of sasines, the said security or part of such security, as the case may be, shall be transferred to the assignee as effectually as if such security had been disponed and assigned, and the disposition and assignation or conveyance had been followed by sasine duly recorded, according to the law and practice prior to the first day of October one thousand eight hundred and forty-five, at the date of recording such assignation or conveyance; and such assignee or disponee shall thereupon be held to be as fully entered as if he had obtained a renewal of the investiture in his favour, according to the law and practice in use before that date: Provided always, that where the assignation or conveyance of an heritable security constituted as aforesaid is contained in any other conveyance or deed, it shall not be necessary to record the whole of such conveyance or deed, but it shall be sufficient to expede and record in the appropriate register of sasines a notarial instrument in the form or as nearly as may be in the form of schedule (HH.) hereto annexed, and upon such notarial instrument being recorded, the person or persons expeding the same shall be in the same position as if the assignation or conveyance of the heritable security on which it proceeds had been itself recorded as of the date of recording the said instrument.

Modifications etc. (not altering text)

C1 S. 124 excluded by Conveyancing and Feudal Reform (Scotland) Act 1970 (c. 35), s. 32, Sch. 8 para. 12