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Section 56 – Transfer of Property Act 1882

Transfer of Property Act 1882

 

56. Marshalling by subsequent purchaser.—

 

1[56. Marshalling by subsequent purchaser.—If the owner of two or more properties mortgages them to one person and then sells one or more of the properties to another person, the buyer is, in the absence of a contract to the contrary, entitled to have the mortgaged-debt satisfied out of the property or properties not sold to him, so far as the same will extend, but not so as to prejudice the rights of the mortgagee or persons claiming under him or of any other person who has for consideration acquired an interest in any of the properties.]

 

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1. Subs. by Act 20 of 1929, sec. 18, for the original section.

 

 

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Transfer of Property Act 1882

 

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