What is a Standard Security

A security is a legal document that results from putting land or property up for security against a loan. Although security deeds may include personal loan agreements and personal guarantees a Standard Security is the only form of fixed security over heritable property in Scotland.


A Standard Security is an extremely important deed for both the Borrower and the Lender since if the grantor of a Standard Security defaults, the security holder may acquire a right to enter into possession of the security subjects, to collect rents, lease the subjects, obtain a right to enter the security subjects to repair or maintain them and the power to apply to the court to sell the security subjects. It is therefore imperative that sound legal advice is obtained at the earliest opportunity.


A Standard Security must be in writing and in one of the two forms as prescribed by the Conveyancing & Feudal Reform (Scotland) Act 1970. A Standard Security is not created until it is either registered in the Land Register of Scotland or previously in the General Register of Sasines. If the granter of the Security is a company the Standard Security must also be registered with the Registrar of Companies within 21 days of its date of creation.


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