44. Right to payment under a mortgage of immovable property

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

A security right in a payment under a mortgage or charge of immovable property to which this Act applies, shall be subordinate to the interest of a person who acquires for value the mortgagee’s or chargee’s interest in the mortgage or the charge, if the interest of the person is registered in the relevant Land Registry Office before a notice of the security right is registered in such relevant Land Registry Office.

Read on from s 45

Part VI

Registration

Read on from Part VI

Part VII

General Provisions

Read on from Part VII

Part VIII

Repeals and Savings

Read on from Part VIII

Part IX

Interpretation

Read on from Part IX