PART A - pre-seen

Question 1

Requirements of a standard security

Answer 1

• in writing
• LR registration
• standard conditions

Question 2

Authority for writing

Answer 2

s.1(2)(b) Requirements of Writing (Scotland) Act 1995

Question 3

Authority for registration

Answer 3

s.9(2) Conveyancing and Feudal Reform (Scotland) Act 1970

Question 4

Authority for standard conditions

Answer 4

Schedule 3 of Conveyancing 1970

Question 5

Does bank need to sign security deed?

Answer 5

No, only Duncan

Question 6

Can a floating charge apply?

Answer 6

No, question states that he does not intend to incorporate into a business

Question 7

If the property is already in the LR, what happens?

Answer 7

Keeper moves it to Section C

Question 8

Does his marriage to Eduardo have an effect on the security

Answer 8

No, normal right to occupy is overridden by dealings of entitled spouse - including security

Question 9

Authority for marital effect

Answer 9

s.6(1A) Matrimonial Homes (Scotland) Act 1981

Question 10

What could the bank do to ensure no issues?

Answer 10

Write and ask Eduardo for consent

Question 11

Authority for written consent

Answer 11

s.6(3)(a)(i) Matrimonial Homes 1981