General rule
Specialty debts are debts created in writing under seal and enforceable by action within 12 years.
The general common law rule of English law is that a debt due on a deed or other specialty is situated where the deed is situated at the relevant time1 and its situs does not depend on the residence of the debtor.
This rule originates from the principle of ecclesiastical law that debts created under seal have an independent existence. It applies to life policies and debentures under seal2, corporation mortgages issued by local authorities under seal, and Northern Irish Land Bonds3 (see I9.424), but not to share certificates4. Corporation mortgages should not be confused with corporation stock,
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Web page updated on 17 Mar 2025 16:50