Bankruptcy and Diligence etc. (Scotland) Act 2007

192 Procedure where money owned in common is disposed of

(1) This section applies where—

(a) a third party claimed, before attached money was disposed of, to own the money in common with the debtor;

(b) the debtor’s interest in the money has not transferred to the third party under section 191(2) of this Act;

(c) the money attachment has not, by virtue of an order under section 191(3) of this Act, ceased to have effect in relation to that money;

(d) the third party’s interest in the money has, on the disposal of the money, been—

(i) transferred to another person; or

(ii) extinguished by virtue of the disposal; and

(e) either—

(i) the third party’s claim is, after that disposal, admitted by the creditor and the debtor; or

(ii) where the third party’s claim is not so admitted, the sheriff, on an application by the third party after that disposal, is satisfied that the claim is valid.

(2) The creditor must pay to the third party a sum equal to the fraction of the value of the money which corresponded to the third party’s interest in it.