S11.5 Discount Standard Security
When a Local Authority gives a discount on the purchase price of a council house, it imposes certain conditions on the buyer. Usually the buyer is not allowed to sell the property within a specified period unless some, or all, of the amount discounted from the purchase price is repaid to the local authority.
The discount is given and the conditions are imposed by way of a Standard Security in respect of discount.
A typical style of minute for a Standard Security in respect of discount is:
(No. 218) 18 Apr. 2004
STANDARD SECURITY (in respect of discount) by ?pALISTAIR ?nMcPHAIL?z and ?pSHEILA ?nMcCRUDDEN?z, both 74 Easter Drylaw Place, Edinburgh – TO CITY OF ?p?nEDINBURGH COUNCIL?z, - over house?q74?nEASTER DRYLAW PLACE?z, EDINBURGH, referred to in Feu Disp. to said Granter, recorded 10 Apr. 1992. Dated 15 Apr. 2004.
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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