# Land Registration etc. (Scotland) Act 2012, Section 92: Extinction of encumbrance when lease assigned


(1) Where the conditions mentioned in subsection (2) are met, a person (“A”) who acquires a registered lease on registration or on a later date by virtue of section 88(4)(b)—
(a) takes that lease free of an encumbrance—
(i) of a kind mentioned in subsection (4), and
(ii) which is not entered in the title sheet as at the date on which A acquires the registered lease, and
(b) any such encumbrance is extinguished.
(2) The conditions are that, as at the date on which the lease is acquired—
(a) A is in good faith, and
(b) the title sheet is not, by virtue of section 67, subject to a caveat relevant to such acquisition by A.
(3) Subsection (1) does not apply to an heritable security which is not entered in the securities section of a shared lease title sheet by virtue of paragraph 8(b) of schedule 1.
(4) The encumbrances are—
(a) a heritable security over the lease,
(b) a title condition such as is mentioned in paragraph (d) or (e) of the definition of “title condition” in section 122(1) of the Title Conditions (Scotland) Act 2003 (asp 9).

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Source: https://www.legislation.gov.uk/asp/2012/5/section/92 (the official version)
Page: https://openlegislation.uk/land-registration-etc-scotland-act-2012/section-92
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.