Article 427. Situation of the bad-faith third party acquirer

(1) The person that was entitled, by a validly concluded juridical act, to apply for registration to its benefit of a registrable right may seek from a court to order the registration of its right and deletion from the register of a competing right or, as the case may be, the grant of a ranking senior to the right registered to a third party if the law allows the coexistence of these competing rights, provided only that the following requirements are met:
a) the juridical act on which the claimant grounds its action is prior to that under which the third party obtained its registration;
b) the right of the claimant and of the third-party acquirer have a common grantor;
c) the registration of the right to the benefit of the claimant was hindered by the third party acquirer by violence or, as the case may be, fraud.
(2) The deletion or grant of a senior ranking may also be sought if the violence or fraud came from a person other than the third party acquirer only if it knew or, as the case may be, ought to have known of this circumstance at the time of the conclusion of the juridical act under which it acquired the registrable right.
(3) The right to action is subject to a limitation period which applies to the action for nullity for violence or error but may not exceed 3 years as of the date on which the third party registered its right.