Sec. 49-26. Conveyance; title of purchaser.
Sec. 49-26. Conveyance; title of purchaser. When a sale has been made pursuant
to a judgment therefor and ratified by the court, a conveyance of the property sold shall
be executed by the person appointed to make the sale, which conveyance shall vest in
the purchaser the same estate that would have vested in the mortgagee or lienholder if
the mortgage or lien had been foreclosed by strict foreclosure, and to this extent such
conveyance shall be valid against all parties to the cause and their privies, but against
no other persons. The court, at the time of or after ratification of the sale, may order
possession of the property sold to be delivered to the purchaser and may issue an execution of ejectment after the time for appeal of the ratification of the sale has expired.
(1949 Rev., S. 7207; P.A. 90-280; P.A. 92-38, S. 2.)
History: P.A. 90-280 amended section to permit court to issue an execution of ejectment at the time of or after ratification
of sale, effective after time for appeal of the ratification of sale has expired; P.A. 92-38 changed provision re issuance of
execution of ejectment by permitting issuance after the time for appeal of ratification of the sale has expired.
Purchaser does not get title which will prevent redemption by subsequent encumbrancer not made party to foreclosure.
89 C. 64. Necessity and effect of ratification by court. 98 C. 153. Right of committee to require deposit without court order.
Id., 154. Procedure where purchaser defaults. Id., 155 ff. Cited. 235 C. 741.
Cited. 9 CA 446. Cited. 13 CA 239. Cited. 22 CA 396. Motion to open and set aside approval of sale filed during an
appeal period stays proceedings until court rules on the motion. 98 CA 72.
Cited. 43 CS 467.