No chattel mortgage, conditional sales contract or title retaining note upon any motor vehicle taken to secure the payment of the purchase price of the sale of any accessory, equipment, additional part or replacement part, shall be valid as against any subsequent purchaser of any motor vehicle heretofore or hereafter titled under the Michigan certificate of title law or against any person, firm or corporation loaning money on said motor vehicle subsequent to such sale unless the provisions of this act have been fully complied with by the seller as herein provided and no civil action of any nature shall lie or be maintained in any court of the state against such subsequent purchaser or mortgagee unless such chattel mortgage, conditional sales contract or title retaining note shall have been recorded upon the purchaser's certificate of title at the time and in the manner herein provided.