LAND TITLE ACT 1994 - SECT 62
Effect of registration of transfer
LAND TITLE ACT 1994 - SECT 62
Effect of registration of transfer
62 Effect of registration of transfer
(1) On registration of an instrument of transfer for a lot or an interest in a
lot, all the rights, powers, privileges and liabilities of the transferor in
relation to the lot vest in the transferee.
(2) Without limiting subsection
(1) , the registered transferee of a registered mortgage is bound by and
liable under the mortgage to the same extent as the original mortgagee.
(3)
Without limiting subsection (1) , the registered transferee of a registered
lease is bound by and liable under the lease to the same extent as the
original lessee.
(4) In this section—
"rights" , in relation to a mortgage or lease, includes the right to sue on
the terms of the mortgage or lease and to recover a debt or enforce a
liability under the mortgage or lease.