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Commentary

36.4 Mortgaging entitlements

AGRICULTURE vol 2(2)
| Commentary

36.4 Mortgaging entitlements

| Commentary

36.4 Mortgaging entitlements

Entitlements are freely transferable assets unattached to land. Conventional mortgages of land under the Law of Property Act 1925 will therefore not provide the mortgagee with any security over the entitlements. An assignment by way of security would be effective, but there is no public register to inform third parties whether or not entitlements are so charged.

If the borrower is a company, its entitlements are of course very likely to be covered by the terms of a debenture or floating charge, but entitlements do not qualify as ‘agricultural assets’ for the purpose of the Agricultural Credits

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