Instruments not effectual until registration

In force

No instrument registrable under this Act shall be effectual to pass any land or to render any land liable as security for the payment of money, but upon the registration of any instrument in manner herein prescribed, the estate or interest specified in such instrument shall pass, or, as the case may be, the land shall become liable as security in manner and subject to the covenants, conditions, and contingencies set forth and specified in such instrument or by this

Act declared to be implied in instruments of a like nature.

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67 Instruments not effectual until registration