152. Protection of the buyer in undervalue transactions.

The court has power to set aside transactions at an undervalue against subsequent owners of the property if the insolvency occurred within the two- or five-year periods. Provisions of the Insolvency Act 1986 provide protection for subsequent buyers and a transaction cannot be set aside where the buyer bought in good faith and for value1. Where the buyer is connected with or is an associate2 of the donor or donee to the transaction at an undervalue or has notice of the circumstances then he is presumed not to have bought in good faith unless the contrary is shown3. Provided