Heritable Creditor definition
Heritable Creditor means, in relation to Scottish Mortgage Loans, the holder of a standard security over heritable or long leasehold property in Scotland;
Heritable Creditor means [ ];]
Heritable Creditor means the creditor in a heritable security, and " heritable security" means a heritable security within the meaning of the Conveyancing (Scotland) Act, 1924, exclusive of a real burden ad factum prcestmidum but inclusive of a security constituted by ex facie absolute disposition; "superior" includes the Crown (without prejudice to the Crown's inherent right of superiority over all land in Scotland) and a subject superior or mid-superior.
More Definitions of Heritable Creditor
Heritable Creditor the party with a Standard Security (fixed charge) over the property. This party’s consent is required to the grant of a lease. Searches/Legal Reports: will be obtained by the seller’s, or the Landlord’s, solicitor and should evidence ownership and hopefully a clear title. (Charges Searches may also be obtained.) Searches will also be obtained relative to eg (a) water and drainage; (b) environmental matters; (c) road adoption and (d) planning and building consents, etc. Coal Report: this search provides details of past, present and future coal mining activity at the property. The search also indicates if there are mine shafts on the property and whether any mining activities may cause subsidence. Energy Performance Certificate: this is a certificate that provides a measure of the property’s energy and its impact on the environment, and includes suggestions or ways in which this impact can be reduced.