Assignation of Standard Security - Example Deed

General

An assignation of standard security is a registrable deed by virtue of section 14 of the Conveyancing and Feudal Reform (Scotland) Act 1970. Form A of schedule 4 provides the style which these deeds should closely resemble.

An assignation of standard security transfers the creditor's right in a standard security to a new creditor.

An assignation of standard security is registered by the use of a Note to the entry for the standard security being transferred to the new creditor.

Useful links

Standard security

Discharge of standard security

Securities Section Information

Form A statutory style

I, A.B. (designation), in consideration of £ hereby assign to C.D. (designation) a standard security for £ (or a maximum sum of £ , to the extent of £ being the amount now due thereunder; in other cases describe as indicated in Note 2 to this Schedule) 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);

With interest from ........................

Example

WE, FIRST EUROPEAN ASSET MANAGERS LIMITED, a company incorporated under the Companies Acts and having our registered office at Riverside Buildings, Penrith Road, Falmouth, Cornwall (Company Number 00546798) FOR NO CONSIDERATION HEREBY ASSIGN to IBRIDGE FINANCIAL INVESTMENTS LIMITED, a company incorporated under the Companies Acts and having its registered office at 110-115 Regent Terrace, London, W1B 5SE (Company Number 00342567) a standard security for £25000 being the principal amount due thereunder by Kriti Malhotra, residing at 12 Carltrona Avenue, Motherwell, registered in our favour in the Land Register of Scotland under Title Number LAN734778 on 5 July 2014; With interest and expenses as at the date hereof: And we grant warrandice: IN WITNESS WHEREOF these presents are executed for and on our behalf as follows:

SIGNED J Smith (Witness)	W Nowakowska (Director)
James Iain Smith	Wacława Nowakowska
19 John Craig Avenue, Ashford, Kent	Place: Ashford, Kent
Date 19 April 2015

Resulting securities section

ENTRY NO	SPECIFICATION	DATE OF REGISTRATION
1	Standard Security by said KRITI MALHOTRA in favour of FIRST EUROPEAN ASSET MANAGERS LIMITED, a company incorporated under the Companies Acts, having its registered office at Riverside Buildings, Penrith Road, Falmouth, Cornwall (Company Number 00546798).	5 Jul. 2014

Note: The above Standard Security was assigned to IBRIDGE FINANCIAL INVESTMENTS LIMITED, a company incorporated under the Companies Acts and having its registered office at 110-115 Regent Terrace, London, W1B 5SE (Company Number 00342567) conform to Assignation registered 25 April 2015.