The Conveyancing procedures for a heritable asset of a dissolved company or a missing person, or where no owner can be identified as entitled, which has fallen to the Crown as bona vacantia (BV), either in terms of section 654 of the Companies Act 1985 (or its predecessors) or alternatively section 1012 of the Companies Act 2006 or at common law, are as follows:
- The firm of Solicitors acting for the prospective purchaser from the QLTR, or where the QLTR has a firm of solicitors acting for her that firm, extends a draft Royal Warrant (which in essence is the Sovereign’s instruction to the Keeper of the Registers of Scotland (ROS) to grant title to the relevant heritable property to the QLTR). The Royal Warrant contains the specific conveyancing description of the heritable property which the QLTR now proposes to sell.
- The accuracy of that draft description is checked by ROS before the Warrant is engrossed by the QLTR Office and sent by it to London for execution on behalf of the Sovereign.
- The signed Royal Warrant is then presented by the QLTR to the Keeper who herself issues a Writ known as a Deed of Gift in name of the Sovereign to the QLTR. The Deed of Gift is the QLTR’s title and is used as a link in title in the Disposition. The QLTR Office will provide a Certified True Copy of the Deed of Gift.
Please note that the process from the time of approval by ROS of the extended draft Royal Warrant to the delivery to the QLTR by the Keeper of an executed Deed of Gift takes between six and eight weeks. It cannot be accelerated. The QLTR Office supplies a pro forma of each of the Royal Warrant and the Disposition from the QLTR for use by solicitors.
Queen’s & Lord Treasurer’s Remembrancer Office,
Scottish Government Building