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Section 30
Implications of buying a mortgaged property
(1) If a purchaser purchases the mortgaged property without the knowledge of the existence of the mortgage right and before the maturity of the mortgage right, the mortgage right on the mortgaged property purchased by such buyer shall not affect such buyer. (2) Without prejudice to the generality of sub-section (1), the following shall be as follows:- (a) In the case of a buyer who purchases goods in the course of regular commercial transactions, the right of mortgage on such goods shall mature. (b) If a person who purchases consumer goods buys such goods without knowledge of the rights related to the mortgage and before registering the notice of inclusion of the consumer goods, the right of mortgage on such consumer goods shall not affect him. whether the person has matured or not, the lien on such consumer goods shall not be affected; If the details are mentioned in a wrong manner, the right of mortgage on the vehicle with such serial number will not affect him, (d) In the case of a person who purchases agricultural produce, - (1) The right of mortgage on the agricultural produce purchased for consumption as a consumable item will not be affected, (2) In the case of agricultural products that are not purchased for consumption as consumer goods, without knowledge of the right of mortgage and if such agricultural product is taken before the maturity of such right, the mortgage right on such agricultural product will not be affected.