Section 349
Registration of Director General of Insolvency
of National Land Code (Revised - 2020)
(1)
Where the Director General of Insolvency claims any land, or share or interest in land, under any written law for the time being in force relating to bankruptcy, he may apply to the
Registrar under this section for the registration thereof in his name, and the Registrar shall give effect to the application by endorsing a memorial of the transmission on the register document of title to the land in question or, as the case may be, the land in which the share or interest in question subsists.
(2)
Every such memorial shall be signed and sealed by the
Registrar, and a copy thereof shall, if he is able to secure its production, be made by him on the issue document of title to the said land or, where the memorial relates to a lease or charge, on the duplicate thereof.
351
National Land Code 513
(3)
No land, share or interest shall vest in the Director General of Insolvency under any adjudication of bankruptcy, or order for administration in bankruptcy, until it has become registered in his name pursuant to this section.