Section 18: Ranking of borrowed money
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
18. Ranking of borrowed money
Where the money deposited under section 17 has been borrowed, the
lender may only acquire a mortgage taking rank subsequent to the creditors
inscribed at the date of the sale.
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Questions this section answers
- If I borrow money to pay off the seizure debt, does that new lender jump ahead of the other creditors?