Complete Securities Section - FR Legal RA

Process Steps

5.1 If the application workdesk N&I confirm that the agent has not completed a search of the Register of Sasines, carry out a search of the General Register of Sasines for any outstanding heritable securities recorded within 40 years, and for any deed(s) recorded within 35 days of the date of registration of the deed(s) under examination.

5.2 If the application form, DIR/breakaway deed and the register of sasine checks do not indicate that a burdens/security deed has been recorded in the sasine register within 35 days of the date of registration of the deed(s) under examination and the application undergoing registration does not include a standard security or only includes a single standard security, proceed to register as normal.

5.2.1 If the application form, DIR/breakaway deed and/or the register of sasine checks indicate a burdens/security deed has been recorded within 35 days preceding the date of registration of the deed(s) under examination, check the search sheet and identify whether an advance notice was recorded for the deed(s) under examination. If no advance notice was recorded proceed to register as normal and include the outstanding burdens/security deed(s) on the title sheet.

5.2.2 If a burdens/security deed(s) has been recorded within 35 days preceding the date of registration of the deed under examination and an advance notice was recorded for the deed under examination consider the appropriate Advance Notice decision tree to determine the effect on registration.

5.2.3 If the application undergoing registration includes two or more standard securities submitted for registration on the same date consider the appropriate Advance Notice decision tree to determine the effect on registration.

5.3 Enter details of any outstanding securities/charges as disclosed on the application form, or as identified from the preceding checks, for which no discharge has been submitted.

5.4 If application includes a discharge, notice of cessor of conditions or discharge of charging order:

• Check the security/grant/charging order being discharged is as referred to in deed
• Check security is not being partially discharged
• If only partially discharged an entry may be required.

5.5 Add details of any new standard security or charge. A certificate of registration of charge is no longer required in respect of limited company standard securities.

Types of deeds to enter in securities section:

• Standard securities
• Notice of payment of grant
• Charging order.

          5.5.1 Ensure the creditor code on the application workdesk replicates the creditor code within the securities section, amend if necessary

  5.5.2 If any security attempts to create servitudes or real burdens, refer to a senior officer.

         5.5.3 For any security over part check if a reference has been provided on the cadastral map. If no reference has been provided add a note to plans on the title workdesk.

5.6 Consider ranking and add ranking note(s) if necessary.

5.7 If application includes a deed of variation of a security, then add the appropriate note from the LRS pick list after the entry for that security to include details of the variation, in accordance with guidance.