New Legislation Introduced in Scotland: The Redemption of Heritable Securities (Excluded Securities) (Scotland) Order 2025
Edinburgh, Scotland – 11th September 2025 – A new piece of legislation, titled “The Redemption of Heritable Securities (Excluded Securities) (Scotland) Order 2025,” has today been published by the UK government, impacting the Scottish legal landscape. This Order, which came into effect on 11th September 2025, aims to refine the process and scope of the redemption of certain heritable securities within Scotland.
Heritable securities are a fundamental aspect of property law in Scotland, representing a lender’s right over heritable property (land and buildings) as security for a loan. The redemption of such a security typically refers to the process by which a borrower repays the outstanding debt and thereby discharges the lender’s interest in the property.
The “Excluded Securities” designation within the title of this Order suggests that this legislation specifically addresses situations where certain types of heritable securities are either exempted from or subject to particular provisions regarding their redemption. While the full implications of the Order will require careful examination by legal professionals and those involved in property transactions, its publication signifies a legislative update intended to bring clarity or modify existing practices.
The Order, made under the authority of relevant legislative powers, is expected to provide a framework for determining which heritable securities fall outside the general redemption provisions or are treated differently. This could encompass a range of scenarios, potentially including historical securities, securities held by specific types of institutions, or those with unique contractual terms.
The introduction of such legislation is a common and necessary part of maintaining a robust and contemporary legal system. It often arises from evolving market practices, the need to address specific legal uncertainties, or to ensure that existing laws remain fit for purpose in modern society.
For individuals and businesses engaged in property ownership, lending, or any related financial activities in Scotland, understanding the provisions of The Redemption of Heritable Securities (Excluded Securities) (Scotland) Order 2025 will be crucial. It is advisable for all parties concerned to consult with qualified legal advisors to ascertain how this new Order may affect their specific circumstances and ongoing transactions.
The full text of The Redemption of Heritable Securities (Excluded Securities) (Scotland) Order 2025 is available on the official legislation.gov.uk website, allowing for detailed review and analysis by all interested parties. This publication marks a significant development in Scottish property law, and its practical effects will become clearer as it is applied in practice.
The Redemption of Heritable Securities (Excluded Securities) (Scotland) Order 2025
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UK New Legislation published ‘The Redemption of Heritable Securities (Excluded Securities) (Scotland) Order 2025’ at 2025-09-11 15:41. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.