Section 202: Legal mortgages
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.
202. Legal mortgages
(1) Subject to subsection (2), every sale by public auction before the
Master shall also have the effect of ipso facto clearing the property from all
legal mortgages not inscribed before the date of the transcription of the title
of the adjudicatee.
(2) A creditor who, by way of legal mortgage, has not inscribed his claim
before the transcription, may claim payment according to his ranking at the
distribution of the sale price.
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Questions this section answers
- Does a Master's auction sale clear the property of legal mortgages that weren't registered before the title was transcribed?