Sasine Register Scotland - Updating Title/Discharging Standard Security

TCA

In the case of an inherited property recorded in the sasine register in Scotland, where the standard security hasn't been discharged, does anyone know if the title/ownership of the property can be updated at the same time the security is discharged? Or is this always two (separately chargeable) processes?

Thanks.

user1977

Doesn't make any difference to the cost, if that's what you mean. They can be done separately or simultaneously. 

TCA

user1977 said:

Doesn't make any difference to the cost, if that's what you mean. They can be done separately or simultaneously. 

Thanks. I wasn't sure whether they were two separate processes or not. 

It's the parental home which was only ever in my dad's name and after his death now passes to my mum once confirmation is granted. 

My mum still lives in the house and there is no impending wish or need to sell the property, but I've just discovered that the standard security hasn't been discharged (mortgage was redeemed in the 80s), so would seem sensible to get that done.

I thought I had the original deeds (because there are hand-written scaled drawings of the property included), but the building society says they still hold the deeds and a charge over the property. Balance of £1 on the mortgage in what's called their Natural Redemption Scheme. 

Before I found out about the standard security there didn't seem to be much point in transferring the house into mum's name, given it'll eventually pass to my sister and I. As far as I could find out there would be no requirement to do so and it wouldn't cause complications further down the line. 

However, if we're now going to get the standard security discharged, then if ownership can be changed at the same time as part of that process, then we may as well get it done.

As I'm typing it dawns on me that given the circumstances, it would probably be a matter of course that both are done at the same time. 

user1977

No particular need to register anything just now, but you at least want to get the seeds signed ie the discharge from the lender and the docket transfer from the executor to mum. 

TCA

This is where I don't understand the process. What do you mean when you say "register anything"?

Register a change of ownership? Given the standard security discharge would be initiated by my mum (based on a certificate of confirmation), would they remove the lender from the deeds without updating ownership?

The solicitor would obviously be aware that my dad had died but I suppose Registers of Scotland maybe don't get that information when the security is discharged? 

If however ownership can be changed at the same time without extra cost, then I can't think of a reason to not just get it done. 

Mum is the executor and sole beneficiary and the only asset that would require any formal transfer of ownership is the house.

That didn't seem worth doing just for the sake of it, as Registers of Scotland would seemingly have no issue leaving it in my dad's name until such times as it was sold.

But the fact I've now found the standard security hasn't been discharged, means it'll need done at some point so might as well sort now.

user1977

I mean there's no particular need or advantage in registering the change in ownership or the discharge of the security, they can be left until the house is sold. Probably more often than not, the docket transfer is not registered and is just used as a link in title when the next purchaser registers their title. Just get the deeds signed and keep them safe.

There is no registration link between the discharge of a security and a change of ownership, though in practice they will often happen around the same time when a property is bought/sold.

TCA

Thanks again.

I guess discharging a security is common enough when a property is sold and just part of the sales process. I arranged for the discharge deed on my own property when we paid off our mortgage (no sale involved) and it maybe took a month, so that time frame probably sticks in my head. Perhaps exacerbated in this case given the property is on the sasine register and updates wouldn't be electronic? 

Would this kind of thing delay a sale as such?

Re the deeds - signed by whom? The lender? I got the impression the deeds wouldn't be returned until the security is discharged. 

user1977

I'm talking about the two (new) deeds - the discharge by the lender, and the docket transfer (of ownership, by the executor to the beneficiary). I have no idea whether the older deeds are actually held by the lender (they stopped being keen on doing so a long time ago). Possession of them isn't all that important.

TCA

I see what you mean now. I was mixing up the deeds. 

I used a solicitor to prepare the discharge deed for my own property because it didn't look straightforward enough to do it myself.  If using a solicitor again it would make sense just to get them to register the discharge as well?

I'm not familiar with dockets of transfer. Given my mum is both executor and beneficiary, is this something which still needs drawn up? 

user1977

TCA said:

I'm not familiar with dockets of transfer. Given my mum is both executor and beneficiary, is this something which still needs drawn up? 

Yes, the property still needs to be transferred by her (wearing her executor hat) out of the estate to herself as the beneficiary.

TCA

user1977 said:

TCA said:

I'm not familiar with dockets of transfer. Given my mum is both executor and beneficiary, is this something which still needs drawn up? 

Yes, the property still needs to be transferred by her (wearing her executor hat) out of the estate to herself as the beneficiary.

Thanks. I'll look to get this done then. We're still awaiting the grant of confirmation. I hadn't looked much into it beyond confirmation, bar learning that there wasn't a great need to update the title in my mum's name.

I'll maybe also look again at preparing a discharge deed myself, although it might not be worth the hassle of getting it wrong. Any templates I saw previously were all set up for solicitor use.