Heritable Securities

The Scottish Law Commission has today published a third discussion paper consulting on reform of the law of securities granted over land and buildings in Scotland. Heritable securities – often referred to as mortgages – are at the heart of many high-value commercial property and finance

Security holders exercising a standard security should be subject to a duty to conform to reasonable standards of commercial practice, says the Faculty of Advocates. The Faculty was responding to a Scottish Law Commission Discussion Paper on Heritable Securities: Default and Post Default, which soug