Research Paper on Enforcement of Standard Securities

This paper develops and applies a framework for the comparative analysis of rights in security over immoveable property focussing particularly on comparison with a view to supporting law reform.

It first establishes the basic prerogatives which a security device can give to the creditor: possession or negative control; use; acquisition or sale. Thereafter 8 key functional questions are developed with respect to the availability and exercise of these prerogatives and the interaction between these functional concerns and the formal structure of security rights is explored.

Thereafter, the framework is applied to the law of Scotland, England, New Zealand, South Africa, Germany and France with a view to isolating the best solutions, particularly those which would offer best fit in the Scottish context.