The expression “owner”
18.—(1) Subject to paragraph (2), “owner”, in relation to any unit, means a person who has right to the unit whether or not that person has completed title; but if, in relation to the unit (or, if the unit is held pro indiviso, any pro indiviso share in the unit) more than one person comes within that description of owner, then “owner”–
(a)for the purposes of article 7(1), means any person having such right; and
(b)for any other purpose, means such person as has most recently acquired such right.
(2) Where a heritable creditor is in lawful possession of security subjects which comprise the unit, then “owner”–
(a)for the purposes of article 7(1) includes, in addition to any such person as is mentioned in paragraph (1)(a), that heritable creditor; and
(b)for any other purposes means the heritable creditor.