Rule 162 – Effect of priority entry

image_printPrint Page

(1) Where an intending purchaser, lessee or chargee has registered a priority entry an application by him/her for registration of the instrument to complete the purchase, lease or charge shall enjoy the priority specified in Section 108(2) of the Act, provided that the application is in order under these Rules and is delivered at the Registry within a period of 44 days after the date of the priority entry.

(2) An application for registration made by any other person after the date of the entry and before the application for registration is made by the intending purchaser, lessee or chargee in accordance with paragraph (1) of this rule shall, for the purpose of priority of registration, rank after the application of the intending purchaser, lessee or chargee.