Assessments. A purchaser of registered land sold for any tax or assessment, shall, within five (5) days after such purchase, file in the office of the registrar a written notice of such purchase, thereupon the registrar shall enter a memorial thereof upon the certificate of title,
and shall mail to each person named in the certificate, and in the memorials thereon, a copy of said notice. Unless such notice is filed as herein provided, the land shall be forever released from the effect of such sale, and no deed shall be issued in pursuance thereof. SOURCE: CC '1157.76.