Disposition (Heritable Creditor in Power of Sale) - Example Deeds

General

A disposition is registrable in the Land Register by virtue of section 50(1) of the 2012 Act.

This page has an example narrative clause of disposition which has been granted by a heritable creditor of the owner of the property. This is an example where the creditor is acting in power of sale, and has not foreclosed. Foreclosure refers to a situation where the lender has obtained a decree of foreclosure under section 26 of the Conveyancing and Feudal Reform (Scotland) Act 1970) and submitted the decree of foreclosure for recording or registration, which would make them proprietor of the subjects.

The example does not constitute a statutory style or format, and an application for registration of such a disposition does not require to be considered for rejection on the basis that it is not valid (in the sense that it is improperly drawn), as one of the conditions of registration applying to a registrable deed.

Registration officers concerned about the content of the warrandice clause of such a disposition should see Warrandice.

Useful links

Disposition - Example Deeds

Disposition (corporate insolvency or administration)

Disposition (sequestration)

Warrandice clause in disposition

Example

WE, BANK OF ALBA, incorporated under the Companies Acts and having our registered officer at......WHEREAS by virtue of a power of sale contained in a standard security for all sums due and to become due by Christina Mitchell sometime at.... .and now at....., in our favour registered in the Land Register of Scotland under title number CLK1296, we advertised the subjects hereinafter disponed for sale and sold the said subjects by private contract to XY (design) at a price of ......being the best price that could reasonably be obtained....