Register of Crofts meaning

This is a glossary of common words and expressions used in Scottish insolvency law with the nearest England and Wales insolvency law equivalent (where relevant) Absolute insolvency Meaning: When a person’s liabilities are greater than the overall worth of their assets. Nearest English equivalent: Balance sheet insolvency. Accountant in Bankruptcy (AiB) Meaning: A Scottish Government agency overseeing the regulation of personal bankruptcy (sequestration and Protected Trust Deeds) in Scotland, and able to serve as trustee in sequestrations where no insolvency practitioner is appointed. It also maintains records of corporate insolvencies in Scotland (receivership and liquidations only) but does not perform the role of Official Receiver. See Practice Note: Scotland: the Accountant in Bankruptcy. Nearest English equivalent: N/A. Accountant of Court Meaning: A court-appointed officer within Scottish Courts and Tribunals who administers funds consigned to the Accountant of Court pursuant to a Court of Session interlocutor or during liquidation proceedings. They oversee Judicial Factors or Administrators appointed by the Court to manage estates...

This glossary outlines commonly used terms and phrases in Scottish property law, together with the closest England and Wales equivalents (where appropriate), and signposts guidance on differences between Scottish property transactions and law, as well as useful property-related websites. A non domino disposition Meaning A disposition granted by someone with no title to the property. Formerly, this could regularise a defective title where, after registering a non domino disposition, the grantee possessed the property openly, peaceably and without judicial interruption for ten years. Since 8 December 2014, with the commencement of the Land Registration etc (Scotland) Act 2012 (LRE(S)A 2012), a party seeking to obtain title to land where no owner can be traced must comply with the prescriptive claimant provisions in LRE(S)A 2012, ss 43–45 before submitting an a non domino disposition for registration. Nearest English equivalent None, although possessory title is similar. Action of specific implement Meaning A court action seeking an order compelling a party to perform a specified...