Section 11: Non-renewal of creditor’s inscription
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
11. Non-renewal of creditor’s inscription
(1) In case of sale on forcible ejectment, creditors, who have their rights
inscribed at the date of the adjudication, may be collocated on the division of
the sale price, although their inscriptions have not been renewed within the 40
years prescribed.
(2) In the case of non-renewal, the creditor shall not sue the purchaser
by way of folle enchère, nor have any right of recourse (droit de suite)
against third parties (tiers acquéreurs).
T18 – 5 [Issue 4]
Transcription and Mortgage Act
(3) Subsection (2) shall apply to every sale by order of a Court so far as
regards the rights of folle enchère and of recourse, which rights the creditor
shall lose unless he has renewed his inscription within the prescribed 40 years.
[S. 11 amended by s. 18 (b) of Act 37 of 2011 w.e.f. 15 December 2011.]
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