S11.13 Deed of Variation

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Feb 04, 2015
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The provisions in a Standard Security may be altered by the granting of a variation e.g. a change in the rate of interest or possibly in the number of persons liable to repay.

  1. Only new obligants and further advances should be minuted. All other variations are minuted “as thereinmentioned”. The effective date of the variation is not minuted.
  2. If the subjects are not contained in the deed and have to be taken from the Standard Security or from other sources, then the subjects go underneath the Minute as external information.
  3. If the deed contains a good description, it will be used in the Minute.

Example:

(No. 212) 8 Sep. 2003
DEED OF VARIATION by ?pROBIN EDWARD ?nSELLAR?z, formerly 26 Buckstone Court, now 40 Carrick Knowe Place, Edinburgh, with consent of ?p?nNATIONWIDE BUILDING SOCIETY?z, - AGREEING that Standard Security (recorded 18 Nov. 1985) by said Granter and ?pHEIDI ?nNIGG?z, 22 C H 9470 Bucks/SG, Switzerland shall be varied as thereinmentioned. Dated 24 Aug. and 1 Sep. 2003.
?l- ?q198?nLIBERTON BRAE?z, EDINBURGH.

The above Minute is a typical style. There are many others and you must reflect the deed: for example, not all Variations contain consent of the creditor.

Here are some examples:

DEED OF VARIATION by ?p?nNATIONWIDE BUILDING SOCIETY?z, ?pJOSEPH KELL ?nTHOMPSON?z and ?pMARGARET ROY ?nTHOMPSON?z, Harewood, Parkhill, Dyce, - AGREEING that Standard Security (recorded 18 Dec. 1998) by said Joseph Kell Thompson and Margaret Roy Thompson shall be varied - DISCHARGING said Joseph Kell Thompson and Margaret Roy Thompson and DECLARING that ?pCOLLEEN JOEANNE ?nTHOMPSON?z, 6 Cowan Road, Edinburgh, shall become sole obligant. Dated 12 and 17 Feb. and 26 Mar. 2007.
?l- ?B southmost upper flat ?q6?nCOWAN ROAD?z, EDINBURGH?D.

DEED OF VARIATION by ?pJOHNETTA ?nMELLES?z, 17 Northfield Terrace, Edinburgh, - WHEREBY said Granter BINDS herself to pay all monies due or to become due under Standard Security (recorded 2 Apr. 1986) by ?pMARY CHRISTINA ?nABBOTT?z, 17 Northfield Terrace, Edinburgh, to ?p?nHALIFAX BUILDING SOCIETY?z, from whom ?p?nHALIFAX PLC?z acquired right, and said Halifax plc RELEASES said Mary Christina Abbott from her obligations under said Security. Dated 15 Apr. and 1 May 2007.
?l- ?B ?q17?nNORTHFIELD TERRACE?z, EDINBURGH?D.

 

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