TRANSFER OF LAND ACT 1893 - SECT 88
TRANSFER OF LAND ACT 1893 - SECT 88
88 . Transferee of encumbered land to indemnify transferor
In every transfer of
land under the operation of The Transfer of Land Act 1874 , or of this Act
subject to a mortgage or charge there shall be implied a covenant with the
transferor by the transferee binding the latter and his heirs executors
administrators and transferees that he or they will pay the interest secured
by such mortgage after the rate and at the times and in the manner therein
specified and will pay the annuity at the times and in the manner specified in
the charge and will indemnify and keep harmless the transferor and his
representatives from and against the principal sum secured by the mortgage and
from and against all liability in respect of any of the covenants therein
contained or by this Act declared to be implied therein on the part of the
transferor.