Seanad debates

Thursday, 9 November 2006

Land and Conveyancing Law Reform Bill 2006: Committee Stage

 

"107.—(1) Where a mortgage is expressed to be created on any land for the purpose of securing future advances (whether with or without present advances), the mortgagee is entitled, in priority to any subsequent mortgage, to the payment of any sum due in respect of any such future advances, except any advances which may have been made after the date of, and with express notice in writing of, the subsequent mortgage.

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