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Moveable Transactions (Scotland) Act 2023

Moveable Transactions (Scotland) Act 2023

2023 asp 3

Commentary on Sections

Part 2 – Security over Moveable Property

Chapter 2 – Register of Statutory Pledges
Request for information
Section 108 – Acquisition of property confirmed by creditor not to be encumbered property

461.This section sets out a special rule to protect purchasers of encumbered property. It should be read with section 107.

462.If a person making a request under section 107 is advised wrongly by the person to whom the request was made that the particular property is not subject to the pledge and the person then acquires the property (or a right in it) in good faith within 3 months, then the pledge is extinguished in relation to the property (or right) acquired.

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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.

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