Arrears of Interest – Adjudications – Heritable Bond – Heritable or Moveable. – (1.) An heritable bond was granted for a large amount, after which decree of adjudication was obtained thereon, for principal and arrears of interest. Part (5500 pounds) of the principal sum contained in the heritable bond; was conveyed, without any mention of the adjudication, to Alexander Ouchterlony, and by him to his brother George in liferent, and to his nephew John in fee. The latter’s heir, on the death, first of Alexander and then of George, claimed not only the fee of andpound;5500, but also the arrears of interest due thereon, amounting to andpound;4296. Held that the arrears were heritable, and went to the heir and not to the executors of the will of George: Reversed on appeal, and the executors by the will entitled to the arrears. (2d.) The other part of the heritable debt (4517l, 15s.), and certain annuity bonds, were conveyed by George to his trustees by a trust deed, reserving power to alter; and a will made in virtue of this reserved power, Held that these were sufficiently conveyed so as to go to his executors, and beyond the claim of his heir at law.
[1772] UKHL 3 – Paton – 659, (1772) 3 Paton 659
Bailii
Scotland
Scotland
Updated: 13 January 2022; Ref: scu.561691