Vesting of land in Association
10 Vesting of land in Association
On and from the date of commencement of this Act the land described in the Schedule is divested from the Trust and shall vest for an estate in fee simple in the Association subject to this Act and subject to all mortgages, charges, encumbrances, liens, leases, easements, agreements, licences, and other transactions affecting the land at the date of commencement of this Act.
The Registrar of Titles shall, on the request of the Association, record on the instruments of title that relate to the land described in the Schedule the divesting of the land from the Trust and its vesting, subject as prescribed by subsection (1), in the Association for an estate in fee simple.
There shall be endorsed on every instrument of title subsequently issued to the Association in respect of such land or any part thereof reference to the fact that the estate of the Association in the land is subject to the provisions of this Act.
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