(a) Above, pp. 575, 580.

(b) Above, pp. 307 sq.

(c) Stats. 38 & 39 Vict. c. 87, fl. 68; 60 & 61 Vict. c. 65, 8. 6 (1).

(d) Stat. 60 & 61 Vict. c. 65, s. 6 (2); see Land Transfer Rules (1903), 78 - 81, 128, 129, 186 -190.

(e) Land Transfer Rules (1903), First Schedule, Forms 6, 7.

(f) Ibid. Form 7. See above, pp. 291 sq.

(g) See stats. 38 & 39 Vict. c. 87, ss. 22 sq., 29 sq.; 60 & 61 Vict. c. 65, ss. 6 (8), 8.

(h) Above, pp. 1059, 1060, 1066 sq.

(i) Above, p. 1065.

(k) Above, p. 1070.

(l) Stat. 60 & 61 Vict. c. 65, s. 6 (6); and sect. 16 (1), above, pp. 1059, 1063.

Where registered land is sold subject to registered charges created subsequently to first registration (u), which it is not proposed to pay off, it appears that, if the vendor be registered with an absolute title, or if the title prior to first registration with a possessory title were perfect (x), the purchaser will, on registration of the transfer to himself, obtain the legal estate in the land sold, subject to the registered charges, but free from all other estates or interests, save only those declared not to be incumbrances (y). And this is equally the case, although the chargees hold unregistered mortgages of the vendor's estate (z). The purchaser will therefore be in a more favourable position in some respects than the purchaser of an equity of redemption of unregistered land (a). Thus he will not take subject to all equitable interests created previously to the sale (a). Nor is he liable, as it appears, to be adversely affected by tacking (b); for the estate conferred upon him by the registration of the transfer to himself will only be subject to registered charges; and it is thought that any unregistered further charges in favour of any registered chargee will be extinguished by the effect of the registered transfer, notwithstanding that he had notice of them (c). As regards the risk of consolidation (d), it is provided by the Land Transfer Act, 1897 (e), that nothing contained in any charge shall affect any registered dealing with land or a charge in respect of which the charge is not expressly registered or protected in accordance with the Act of 1875 and that Act. This is not a very lucid enactment. But it appears that, where a registered charge reserves the right of consolidation, such right cannot be exercised to the prejudice of a subsequent registered transferee or chargee of the land, unless the right were noted in the register (/). Where the right of consolidation has been reserved in a mortgage of other land than that comprised in a registered charge (whether the other land be registered or not), and affected or has come to affect (g) the land comprised in the registered charge, the case does not come within the terms of the enactment quoted. But here the creditor's right of consolidation appears to be an equity arising independently of the registered charge; and it seems that, unless the right were noted in the register against the land comprised in the registered charge (It), it would be extinguished by the effect of a registered transfer for value from the registered proprietor of that land (i). The result appears to be that a purchaser of registered land, subject to registered charges created subsequently to first registration, need only regard the charges registered and any right of consolidation entered on the register. But the purchase of registered land to be transferred subject to registered incumbrances prior to first registration is very different. In such case the incumbrances will remain paramount to the estates conferred by the registered transfer; and it does not appear that the registration of the transfer would extinguish any legal estate outstanding in any one of the incumbrancers (k). The purchaser therefore would get no more than an equity of redemption, and he would be exposed to some, though not to all, of the risks to which he would be liable if the land were not registered (/). Thus where the proprietorship of such incumbrances has not been registered, it seems that the owners of them would not be deprived of any rights of consolidation or tacking which they might exercise if the land were not registered. And it is questionable whether the owners of such incumbrances are in any worse position in these respects, where they have procured themselves to be registered as proprietors of the incumbrances; although it may be contended that they have thereby rendered themselves liable to the same law as governs the proprietors of registered charges subsequent to first registration (m).

Purchase of registered land subject to registered charges or incumbrances,

(m) Above, pp. 1093, 1094.

(n) Above, p. 1094.

(o) Above, pp. 1064 - 1066, 1086, 1094.

(p) See Land Transfer Rules (1903), 128.

(r) Above, pp. 1059 - 1061, 1066.

(s) Above, pp. 1059 sq. 1063.

(t) Above, p. 1100.

(u) Above, p. 1069.

Tacking.

Consolidation of securities.

(x) Above, pp. 1093, 1094. (y) Above, p. 1073. (z) Above, p. 1074.

(a) Above, p. 419.

(b) Above, p. 420.

(c) Above, pp. 1073, 1074, 1081 sq.

(d) Above, p. 419.

(e) Stat. 60 & 61 Vict. c. 65, s. 9 (4).

(/) See Land Transfer Rules (1903), 169.

(g) See above, p. 420, and n. (t). (h) See last note but one. (i) See above, p. 1074.

(k) Above, p. 1073. (l) Above, p. 419.

The title to any advowson, rent, tithes impropriate or other incorporeal hereditaments of freehold tenure, maybe registered under the Land Transfer Acts (n). And, as it is expressly enacted that all hereditaments, corporeal or incorporeal, shall be deemed land within the meaning of these Acts (o), it appears that the registered proprietor of any incorporeal hereditament so registered has the same statutory powers of disposition as the registered proprietor of registered land (p). But nothing in the Land Transfer Act, 1897, shall render compulsory the registration of the title to an incorporeal hereditament (q). As we have seen (r), quit rents, crown rents, and other rents having their origin in tenure, tithe rentcharge, and payments in lieu thereof or of tithes, profits d prendre, and easements, are amongst the matters declared by the Acts not to be incumbrances, and are thus exempted from the effect of first registration and of the registered transfer of registered land (s). These incorporeal hereditaments, therefore, if not registered (t), remain subject to the general law (u) as regards their sale and assurance, notwithstanding that they arise within a district where registration is compulsory (x). But the sale and assurance of any registered incorporeal hereditament is governed by the same rules as apply in the case of registered land (y).