S11.11.3 Deductions of Title in a Discharge of a Standard Security
It is often the case that a few years will elapse between the recording of a Standard Security and the recording of the Discharge of that Standard Security. If the creditor in the Standard Security is a Building Society, it is quite possible that they may have amalgamated with another Building Society and changed their name since the Standard Security was recorded. If that is the case, the deed discharging the Security would be granted by the creditor under their new name and would have to contain a Deduction of Title narrating details of the amalgamation and the documents which brought about the change of name. These links for common creditors are laid out in the section entitled “Common Links in Title” and this should be checked to make sure that the correct links have been narrated in the deed. Further links are noted in various Sasine Memos.
If a Discharge of a Standard Security contains a deduction of title, this should be reflected in the minute for the Discharge, without mention of the links.
(No. 7) 1 Jul. 2003
DISCH. by ?p?nNATIONWIDE ANGLIA BUILDING SOCIETY?z, - of Standard Security (recorded 22 Apr. 1984) by ?pSHEILA ?nMcINNES?z, 14 Bruntsfield Road, Edinburgh; which Standard Security was last vested in ?p?nNATIONWIDE BUILDING SOCIETY?z. Dated 1 Jun. 2003.
?l- ?q4?nBRUNTSFIELD ROAD?z, EDINBURGH.
If a Discharge narrates the relevant links in titles, but does not contain a formal deduction of title (i.e. “which subjects were last vested in said Abbey National Building Society, from whom said Abbey National PLC acquired right by Agreement and Confirmation…), then the following procedure should be used:
DISCH. by ?p?ABBEY NATIONAL PLC?z, - of Standard Security (recorded 25 Apr. 1988) by ?pURSULA ?nFEATHER?z, 19 Milton Terrace, Edinburgh, to ?p?ABBEY NATIONAL BUILDING SOCIETY?z. Dated 3 Mar. 1992.
?l- ?q23?nDURHAM ROAD?z, EDINBURGH.
Registers of Scotland (RoS) seeks to ensure that the information published in the Sasines Manual is up to date and accurate but it may be amended from time to time.
The Manual is an internal document intended for RoS staff only. The information in the Manual does not constitute legal or professional advice and RoS cannot accept any liability for actions arising from its use.
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