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Bankruptcy and Diligence etc. (Scotland) Act 2007

Section 192 – Procedure where money owned in common is disposed of

637.Section 192 covers the situation where a third party claims common ownership of money with a debtor and does so before payment to the creditor under a payment order or realisation under an order for immediate realisation but the money is nevertheless paid to the creditor under the payment order or is transferred to another person under the provisions for realisation.

638.If the creditor subsequently admits that the third party was a common owner of the money or the third party satisfies the sheriff of this fact, then the creditor has to pay the third party an amount equal to the third party’s share of the commonly owned money.

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