(1)  If land is sold under this Division, the registration of a memorandum of transfer or the execution of the indenture of conveyance vests the title to the land in the purchaser.

(2)  The title vested in a purchaser is freed of –

(a) all mortgages and charges; and

(ab) any caveat that if not removed would forbid the registration of the memorandum of transfer or execution of the indenture of conveyance; and

(ac) any other encumbrances or interests; and

(b) all leases and licences.

(3)  A memorandum of transfer or indenture of conveyance by a council is evidence that the requirements of the Division in relation to the sale of the land have been complied with.