§ 62-293. Effect on liens and other rights.
§ 62‑293. Effecton liens and other rights.
Nothing contained in this Article in any manner impairs the lien of aprior mortgage, or other encumbrance, upon the property or franchises conveyedunder a sale pursuant to this Article when by the terms of the judgment ordecree under which the sale was made, or by operation of law, the sale was madesubject to the lien of any such prior mortgage or other encumbrance. No suchsale and conveyance or organization of such new corporation in any way affectsthe rights of any person or body politic not a party to the action in which thejudgment or decree was made, nor of any party except as determined by thejudgment or decree. When a trustee has been made a party to such action and hiscestui que trust, for reason satisfactory to the court, has not been made aparty thereto, the rights and interest of the cestui que trust are concluded bythe decree. (1901, c. 2, s.103; Rev., s. 1241; C.S., s. 1224; 1955, c. 1371, s. 2; 1963, c. 1165, s. 1.)