Discharge of Standard Security - Example Deeds

General

A discharge of standard security is registrable by virtue of section 17 of the Conveyancing and Feudal Reform (Scotland) Act 1970. Form F of Schedule 4 of that Act provides the statutory form which is to be used.

A discharge of a standard security is registered to reflect the payment of the loan secured by the standard security or the fulfilment of some other obligation to which the standard security relates. Usually a discharge will be registered when the debtors have sold the property secured or at the end of the loan period.

The deed should closely resemble the statutory form provided.

Useful links

Example standard security

Example assignation of standard security

Securities Section Information

Statutory form of discharge of standard security

I, A.B. (designation), in consideration of £ (where the security is in respect of a maximum sum or of all sums due or to become due or is in respect of a personal obligation constituted in an instrument or instruments other than the standard security add being the whole amount secured by the standard security aftermentioned) paid by C.D., (designation) (or, as the case may be) hereby discharge a standard security for £ (or a maximum sum of £ in other cases describe as indicated in Note 2 to this Schedule) by the said C.D. (or by E.F.) in my favour (or in favour of G.H.) recorded in the Register for . . . . . . . . . . . . on . . . . . . . . . . . . (adding if necessary,but only to the extent of £ of principal).

Note 2 referred to in this statutory form reads as follows: In an assignation, discharge or deed of restriction, (1) a standard security in respect of an uncertain amount may be described by specifying shortly the nature of the debt or obligation (e.g., all sums due or to become due) for which the security was granted, adding in the case of an assignation, to the extent of £ being the amount now due thereunder and (2) a standard security in respect of a personal obligation constituted in an instrument or instruments other than the standard security itself may be described by specifying shortly the nature of the debt or obligation and referring to the other instrument or instruments by which it is constituted in such manner as will be sufficient identification thereof.

Example discharge

WE, SANTANDER (UK) PLC (FORMERLY ABBEY NATIONAL PLC), incorporated under the Companies Act, and having its registered office at 2 Triton Square, Regents Place, London NW1 3AN, IN CONSIDERATION of the whole amount secured by the Standard Security aftermentioned paid to us by CHRISTINA MITCHELL, One Mossy Loan Path, Drumchapel, Glasgow HEREBY DISCHARGE the standard security for all sums due and to become due granted by the said Christina Mitchell in our favour (wherein we are designated Abbey National plc), registered in the Land Register on Twelfth September 1995 under the Title Number LAN0001; IN WITNESS WHEREOF these presents are sealed with the common seal of us the said SANTANDER (UK) PLC and subscribed for and on our behalf by an Authorised Signatory, Michael Ross, Service Advisor, Deeds Services at Stockton on Tees, on Fourth July two thousand and eleven, before this witness Jean Smith, Service Advisor, Deeds Services and employee of SANTANDER (UK) PLC

*Michael Ross*	J Smith
	Authorised Signatory
	plus Seal of Santander UK plc

Digital Discharge Service

Digital Discharges use a slightly different style of operative wording from the style prescribed in the 1970 Act - please see this example deed;

This uses the words "DISCHARGES the Security".