OneSavings Bank plc v Burns and another

Lending and security – Standard security – Enforcement – Assignation of securities – Title to sue. Sheriff Court: Dismissing a summary application in which the pursuers sought declarator of entitlement to enter into possession of subjects, warrant to exercise a power of sale and warrant for ejection, suing as creditors in a standard security granted by the defenders over the property and claiming title by virtue of two assignations, the court held that, as the defenders contended, the pursuers had no title to sue: the assignations could not be said to conform 'as closely as may be' to Form A and Note 2(1) in Sch 4 to the Conveyancing and Feudal Reform (Scotland) Act 1970, and the omission of words required by Note 2(1), while not entirely fatal to the assignations was fatal to the original standard security becoming vested in the pursuers as effectually as if it had been granted in their favour.

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