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Conveyancing (Scotland) Act 1874

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This is the original version (as it was originally enacted).

18Entails not to bar redemption

Casualties subject to the fetters of an entail may be redeemed as aforesaid notwithstanding such entail, the redemption money being consigned in one of the banks in Scotland incorporated by Royal Charter or Act of- Parliament in name of the accountant of the Court of Session, who shall be allowed a reasonable fee for his trouble out of such money, and being applied by the heir of entail in possession under the orders of the said court for the benefit of the entailed estate, the accruing interest being payable to the heir of entail in possession during the time the same shall arise ; provided always, that when the redemption money so consigned during any period of three years shall not exceed in whole the sum of one hundred pounds, the same may at the end of that period be paid oyer by the accountant for the time, without orders or authority from the court, to the person or persons or the representatives of the person or persons in possession of the entailed estate at the time or times when the consignment or consignments was or were respectively made. Or the heir of entail in possession of an entailed estate at the time, when any casualty shall be redeemed may, in his option, elect in lieu of such consignment in bank, that the redemption money shall be converted into an annual sum equal to four per centum upon the capital, in which case a memorandum as before provided shall be signed and recorded, whereupon such annual sum shall be deemed to be feu-duty, with the qualities and in manner and to the effect before provided.

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