Subsequent transfers

§ 28:6—110. Subsequent transfersWhen the title of a transferee to property is subject to a defect by reason of his noncompliance with the requirements of this article, then: (1) a purchaser of any of such property from such transferee who pays no value or who takes with notice of such noncompliance takes subject to such defect, but (2) a purchaser for value in good faith and without such notice takes free of such defect.