Poinding
Encyclopedia

Definition

Poinding (Scots law) : that diligence
Diligence (Scots law)
-Definition:Diligence : a process; execution.The term has several usages in legal proceedings involving creditors and debtors:...

 whereby a debtor's property is carried directly to a creditor.

There are two types:
  • Personal - The taking of movable property (eg, wagons, livestock; but not property such as a house because it is not movable) belonging to the debtor. Plow cattle and tillage instruments cannot be included in times of labour or tilling, unless the debtor has no other movable property to satisfy the debt. Personal poinding is founded merely on an obligation to pay, all else aside. A relatively low level of diligence
    Diligence (Scots law)
    -Definition:Diligence : a process; execution.The term has several usages in legal proceedings involving creditors and debtors:...

     is sufficient to accomplish this (such as letters of horning
    Letters of horning
    Letters of horning : a document issued by civil authorities that publicly denounce a person as a rebel. The document was issued against persons who had not paid their debts....

    , or a warrant granted by a sheriff or commissary).
  • Real - The confiscation of non-movable property (such as land) and the movable property found on it. Every debitum fundi (a debt using land as collateral
    Collateral (finance)
    In lending agreements, collateral is a borrower's pledge of specific property to a lender, to secure repayment of a loan.The collateral serves as protection for a lender against a borrower's default - that is, any borrower failing to pay the principal and interest under the terms of a loan obligation...

    ) is a foundation for real poinding. It cannot be used against movable property brought onto the land by a stranger, nor against the movable property of a tenant
    Leasehold estate
    A leasehold estate is an ownership of a temporary right to land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord....

     for more than the value of the tenant's term rent. A relatively high level of diligence
    Diligence (Scots law)
    -Definition:Diligence : a process; execution.The term has several usages in legal proceedings involving creditors and debtors:...

    is necessary to accomplish this.


The definition was taken from the source.
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