[paragraph] The lender was what is referred to as a "bona fide encumbrancer
for value," which meant that if the borrower's ability to repay had been overstated and/or if the transaction was tainted by outright fraud, the lender's interest in the property was still secure.
337 at 365-66 (Lord Phillips MR) (citing Professor Goode and endorsing the proposition that "[i]f [a floating charge] imposes restrictions on sales or subsequent encumbrances and the particular sale or charge, though in the ordinary course of business is in breach of such restrictions, the floating charge will, on crystallisation, retain its priority if the buyer or encumbrancer
took with notice of the restrictions, whether his interest is legal or equitable").
The Commission shall apply the proceeds derived from such sale in payment, in the first instance, of all monies due to the Commission in respect of such loan, and in redemption of any amount charged thereon in favor of the Commission, or so much thereof as remains unpaid, or in making any pro rate division to any other encumbrancer
if there be any agreement with the Commission to that effect, and in payment of all expenses incurred by the Commission in relation to such sale, and shall pay the balance (if any) to the persons entitled to receive the same.
(24) Section 09.45.940 of the Alaska Statutes states that "[f]rom the time of recording the [lis pendens] notice, a purchaser, holder of a contract or option to purchase, or encumbrancer
of the property affected has constructive notice of the pendency of the action." (25)
The statute, like its common law | predecessor, allows a party claiming J an interest in real property to notify prospective purchasers or encumbrancers
of the property that it is the subject of litigation.
One function of a lis pendens notice is to preserve for the plaintiff a priority over all subsequent lienors, purchasers, and encumbrancers
. Because the notice "relates back" to the date of its filing, other plaintiffs who seek to attach property to execute on a judgment may take such property subject to the lis pendens of plaintiffs with pending cases against the same defendant who filed notice previously, even though the complaints may have been filed at a later date and no award has yet been issued.
The title report will identify other parties-in-interest, such as mortgagees, lienors, and other encumbrancers
. It is important to try to obtain a title report as early in the acquisition process as possible for several reasons.
(124) "To Encumbrancers
on Landed Property" and "Charges for Services Rendered/ These leaflets were sent out by Peter Marshall, secretary of the PDA, from the head office at 8 Westmoreland Street, Dublin, on 30 June and 13 August 1881, respectively (PDA, Annual Reports, 1881-82 [NLI]).
the mortgagees or-other' encumbrancers
and the name of the surety of the general contractor.
1972)(purpose of lis pendens is to notify prospective purchasers and encumbrancers
that any interest acquired by them in property in litigation is subject to decision of court.