https://www.taxtmi.com/caselaws?id=110650 A purchaser takes no better title where the property was already subject to an equitable mortgage created before the purchase; the secured creditor's prior security interest prevails, and alleged misrepresentation by the seller does not displace that right. On those facts, interim protection against dispossession was liable to be vacated because the petitioner could not defeat the bank's enforcement rights. The Court, however, permitted a limited settlement window for the petitioner and/or borrower to approach the bank, during which the protection was kept in force temporarily. The operative effect is that prior mortgage rights remain enforceable against a subsequent purchaser, subject only to a short period for possible settlement. en-us Wed, 17 Mar 2004 00:00:00 +0530 Wed, 18 Apr 2012 10:07:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110650 A purchaser takes no better title where the property was already subject to an equitable mortgage created before the purchase; the secured creditor's prior security interest prevails, and alleged misrepresentation by the seller does not displace that right. On those facts, interim protection against dispossession was liable to be vacated because the petitioner could not defeat the bank's enforcement rights. The Court, however, permitted a limited settlement window for the petitioner and/or borrower to approach the bank, during which the protection was kept in force temporarily. The operative effect is that prior mortgage rights remain enforceable against a subsequent purchaser, subject only to a short period for possible settlement. Case-Laws Companies Law Wed, 17 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110650