Regulation 10 Effect of registering a repayment charge or discharge of a repayment charge etc.

(1)

A registered repayment charge is conclusive evidence that the charge specified in it has been created in respect of the property specified in it.

(2)

A registered repayment charge constitutes a charge on the property specified in it and has priority over—

(a)

all future burdens and incumbrances on the same property; and

(b)

all existing burdens and incumbrances on the same property except any charges created or arising under—

(i)

any local Act authorising a charge for recovery of expenses incurred by a local authority;

(ii)

schedule 9 of the Housing (Scotland) Act 1987^f1;

(iii)

section 172 of the 2006 Act^f2; or

(iv)

any Act authorising advances of public money.

(3)

A registered repayment charge is enforceable at the instance of the registered social landlord against any person deriving title to the charged property.

(4)

A registered repayment charge is not enforceable against—

(a)

a third party who acquires right to the charged property (whether title has been completed or not) in good faith and for value before the repayment charge is registered; or

(b)

any person deriving title from such third party.

(5)

A registered discharge of a repayment charge is conclusive evidence that the charge concerned has been discharged.

Annotations

Footnotes

f1: 1987 c.26.
f2: Section 172 was amended by section 150(4) of the Housing (Scotland) Act 2010 (asp 17) and sections 85(2), 90(1) and 91(1) of the Housing (Scotland) Act 2014.