Conveyance on sale
104 Conveyance on sale
A mortgagee exercising the power of sale conferred by this Part shall have power, by deed, to convey the property sold, for such estate and interest therein as he is by this Part authorized to sell or convey or may be the subject of the mortgage, freed from all estates, interests and rights to which the mortgage has priority, but subject to all estates, interests and rights which have priority to the mortgage.
Where a conveyance is made in exercise of the power of sale conferred by this Part, or any corresponding previous enactment, the title of the purchaser shall not be impeachable on the ground—
that no case had arisen to authorize the sale; or
that due notice was not given; or
where the mortgage is made after the commencement of this Act, that leave of the Court, when so required, was not obtained; or
whether the mortgage was made before or after such commencement, that the power was otherwise improperly or irregularly exercised—
and a purchaser shall not, either before or on conveyance, be concerned to see or inquire whether a case has arisen to authorize the sale, or due notice has been given, or the power is otherwise properly and regularly exercised; but any person damnified by an unauthorized, or improper, or irregular exercise of the power shall have his remedy in damages against the person exercising the power.
A conveyance on sale by a mortgagee, made after the commencement of this Act, shall be deemed to have been made in exercise of the power of sale conferred by this Part unless a contrary intention appears.
Nos 3754 s. 105, 4265 s. 4.
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