hekima enterprises company limited another vs crdb bank plc 2 others 2023 tzhclandd 16970 28 april 2023
The auction and sale of the mortgaged house were lawful as public notice was given in accordance with the law, and the sale to the second highest bidder (third defendant) after the highest bidder defaulted did not invalidate the transaction. No evidence of fraud, collusion, or substantial procedural irregularity was established. The third defendant is a bonafide purchaser. Plaintiffs' default on the loan and failure to prove their claims led to dismissal of the suit.
Source excerpt
- Mortgage enforcement
- Public auction procedures
- Bonafide purchaser protection
- Loan default remedies