1. (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. (2) A purchaser for value in good faith and without such notice takes free of such defect.

When the title of a transferee to property is subject to a defect by reason of his noncompliance with the requirements of this title, then:

Added by Acts 1975, c. 49, § 2, eff. July 1, 1975.

Formerly Art. 95B, § 6-110.