Insolvency Act

123. Transmission of interest in land

Edition: 2022-12-31 · In force

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123. Transmission of interest in land

(1)This section applies to an interest in land that—

(a)is owned by the bankrupt;

(b)is subject to a mortgage or a charge; and

(c)is not disclaimed by the bankruptcy trustee.

(2)The bankruptcy trustee shall—

(a)arrange for the transmission of the interest in the land to the bankruptcy trustee to be registered under the Land Registration Act (Cap. 300); or

(b)give notice to the mortgagee or other person entitled under charge that the bankruptcy trustee cannot, or does not intend to, register transmission of the interest in the land.

(3)A notice given under subsection (2)(b) is notice that—

(a)the interest has vested in the bankruptcy trustee; and

(b)the mortgagee or holder of the charge is, on taking possession of, or selling, the interest, liable to account to the bankruptcy trustee as if that trustee were the proprietor of the interest.

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Source: Kenya Law