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Deductions of title

1 May 04

Style deduction of title clauses for linking deeds in the name of Woolwich Building Society or Woolwich Plc to their successors Barclays Bank Plc.

by WSG Young

Many solicitors will already be aware that, with effect from 1 December 2003, the entire mortgage book of our client, Woolwich plc, was transferred to its parent company, Barclays Bank Plc.  

We think that it might be helpful to the profession if we were to publish style deduction of title clauses for use in linking to Barclays Bank Plc, security deeds standing in the names of various lenders who now form part of the Barclays group. The style deduction of title clauses for Woolwich Building Society and Woolwich Plc to Barclays Bank Plc are set out below. These clauses, together with style deductions of title for other lenders forming part of the Barclays group, can also be accessed (for “copying and pasting” purposes) on the Brechin Tindal Oatts website at www.bto.co.uk.

W S G Young, Brechin Tindal Oatts

WOOLWICH BUILDING SOCIETY to BARCLAYS BANK PLC

“Which Standard Security was last vested in the said Woolwich  Building Society as aforesaid and from whom we acquired right by virtue of (One) Transfer Agreement pursuant to sections 97 to 103 inclusive of the Building Societies Act 1986 between the said Woolwich Building Society and Woolwich plc of Watling Street, Bexleyheath, Kent DA6 7RR dated Thirtieth December Nineteen hundred and ninety six; (Two) Confirmation of the said Transfer by the Building Societies Commission dated Sixteenth May Nineteen hundred and ninety seven;  (Three) Transfer Amendment Agreement pursuant to section 97 of the Building Societies Act 1986 between the said Woolwich Building Society and the said Woolwich plc dated Twenty eighth May Nineteen hundred and ninety seven; (Four) Notice of Vesting given to the Central Office of the Registry of Friendly Societies on Twenty third June Nineteen hundred and ninety seven; (Five) the Barclays Group Reorganisation Act 2002 (“the Act”); and (Six) resolution of the Board of us, the said Barclays Bank PLC, made on Seventeenth October Two thousand and three pursuant to the Act”.

WOOLWICH PLC to BARCLAYS BANK PLC

“Which Standard Security was last vested in the said Woolwich plc as aforesaid and from whom we acquired right by virtue of (One) the Barclays Group Reorganisation Act 2002 (“the Act”) and (Two) resolution of the Board of us, the said Barclays Bank PLC, made on Seventeenth October Two thousand and three pursuant to the Act”.