§ 148 — Exoneration of purchasers

148.—(1) In favour of a purchaser of registered land claiming through an instrument executed by an attorney, the power under which the attorney purports to act is presumed to be in full force and effect at the time of such execution unless the purchaser, prior to completion of the purchase, has received notice of the revocation of the power, and the Registrar need not be concerned to inquire as to whether or not any such notice was received.(2) This section does not operate to prolong the duration of a power which is expressed to terminate on a specified day, nor does it validate any act of the attorney done after that day.

(3) An attorney who purports to act in exercise of a power after the attorney has received notice of its revocation is liable to the same penalties as if the attorney had made a statutory declaration that, at the time of so purporting to act, the power had not been revoked.

(4) Nothing in this section prejudices the right of a principal to recover damages from, or to institute other proceedings against, an agent who has exceeded the agent’s authority.

—(1) In favour of a purchaser of registered land claiming through an instrument executed by an attorney, the power under which the attorney purports to act is presumed to be in full force and effect at the time of such execution unless the purchaser, prior to completion of the purchase, has received notice of the revocation of the power, and the Registrar need not be concerned to inquire as to whether or not any such notice was received.

(2) This section does not operate to prolong the duration of a power which is expressed to terminate on a specified day, nor does it validate any act of the attorney done after that day.

(3) An attorney who purports to act in exercise of a power after the attorney has received notice of its revocation is liable to the same penalties as if the attorney had made a statutory declaration that, at the time of so purporting to act, the power had not been revoked.

(4) Nothing in this section prejudices the right of a principal to recover damages from, or to institute other proceedings against, an agent who has exceeded the agent’s authority.