Section 105 — Land Transfer Act 1952: Transfer by mortgagee

105 Transfer by mortgagee Upon the registration of any transfer executed by a mortgagee for the purpose of exercising a power of sale over any land, the estate or interest of the mortgagor therein expressed to be transferred shall pass to and vest in the purchaser, freed and discharged from all liability on account of the mortgage, or of any estate or interest except an estate or interest created by any instrument which has priority over the mortgage or which by reason of the consent of the mortgagee is binding on him. Compare: 1915 No 35 s 109; 1939 No 7 s 7 Section 105: amended, on 1 January 2008, by section 364(1) of the Property Law Act 2007 (2007 No 91).