Page:United States Statutes at Large Volume 76A.djvu/416

–320– -320(b) When the purchaser of personal property not capable of manual delivery pays the purchase money, the officer making the sale shall execute and deliver to him a certificate of sale. The certificate conveys to the purchaser all the right which the debtor had in the property on the day the execution or attachment was levied. (c) Upon a sale of real property, the purchaser is substituted to and acquires all the right, title, interest, and claim of the judgment debtor thereto on the date of the levy of the execution thereon. If property, real or personal, has been attached in the action, the purchaser is substituted to and acquires all the right, title, interest, and claim of the judgment debtor on or at any time after the day the attachment was levied upon the property. § 556. Sales as absolute or subject to redemption; certificate of sale Sales of personal property, and of real property, when the estate therein is less than a leasehold of two yeare' unexpired term, are absolute. In all other cases the property is subject to redemption, as provided in this subchapter. The officer shall give to the purchaser a certificate of sale, and file a duplicate thereof for record in the office of the registrar of property, which certificate must state the date of the judgment under which the sale was made and the names of the parties thereto, and contain: (1) a particular description of the real property sold; (2) the price bid for each distinct lot or parcel; (3) the whole price paid; and (4) if the property is subject to redemption, the certificate must so declare. § 557. Redemption; persons entitled to; redemptioners defined Property sold subject to redemption, as provided in section 566 of this title, or any part sold separately, may be redeemed in the manner hereinafter provided, by the following persons, or their successors in interest: (1) the judgment debtor, or his successor in interest, in the whole or any part of the property; or (2) a creditor having a lien or mortgage on the property sold, or on a share or part thereof, subsequent to that on which the property was sold. The persons specified by paragraph (2) of this section are, in this subchapter, termed redemptioners. § 558. Redemption; time; amount of payment The judgment debtor, or a redemptioner, may redeem the property from the purchaser any time within 12 months after the sale on paying the purchaser the amount of his purchase, with 1 percent per month thereon in addition, up to the time of redemption; and if the purchaser is also a creditor, having a prior lien to that of the redemptioner, other than the judgment under which the purchase was made, the amount of the lien with interest. § 559. Subsequent redemptions; notice; marshal's deed; certificate (a) If property is so redeemed by a redemptioner, another redemptioner may, within 60 days after the last redemption, again redeem it from the last redemptioner, on paying the sum paid on the last redemption, with 2 percent thereon in addition, and, in addition, the amount of any liens held by the redemptioner prior to his own, with interest; but the judgment under which the property was sold need not be so paid as a lien.

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