(1) If the mortgaged property is sold, exchanged, leased or licensed or transferred in any manner, the notice registered in respect of the mortgaged property shall remain valid even after such transfer, even if the mortgagor is aware of such transfer or has consented to such transfer. (2) Even if the mortgagee changes his name in such a way that the information registered in accordance with this Act is seriously misleading, the notice registered to mature the mortgage right in relation to the property acquired by the mortgagee prior to the date of such name change or within a period of four months from that date shall remain valid. . For the purpose of correcting the name, only if such amendment is submitted within four months of the change of name and the name is corrected, such notice shall be considered valid for maturing the right of mortgage on the mortgaged property received by the mortgagor after four months of the name change. (3) Pursuant to sub-section (2) of the mortgagor Except as otherwise provided in connection with the change of name, the notification shall remain valid even in the event that the change in the circumstances after the registration has made the notification seriously misleading.