(1)The proprietor of land (whether he was registered before or after the commencement of this Act) shall be deemed to have vested in him without any conveyance, where the registered land is freehold, the legal estate in fee simple in possession, and where the registered land is leasehold the legal term created by the registered lease, but subject to the overriding interests, if any, including any mortgage term or charge by way of legal mortgage created by or under the M1Law of Property Act 1925, or this Act or otherwise which has priority to the registered estate.
(2)Where any legal estate or term left outstanding at the date of first registration (whether before or after the commencement of this Act), or disposed of or created under section forty-nine of the M2Land Transfer Act 1875, before the commencement of this Act, becomes satisfied, or the proprietor of the land becomes entitled to require the same to be vested in or surrendered to him, and the entry, if any, for protecting the same on the register has been cancelled, the same shall thereupon, without any conveyance, vest in the proprietor of the land, as if the same had been conveyed or surrendered to him as the case may be.
(3)If and when any person is registered as first proprietor of [F1any land], the provisions of the M3Law of Property Act 1925, for getting in legal estates shall apply to any legal estate in the land which was expressed to be conveyed or created in favour of a purchaser or lessee before the commencement of this Act but which failed to pass or to be created by reason of the omission of such purchaser or lessee to be registered as proprietor of the land under the Land Transfer Acts 1875 and 1897, and shall operate to vest that legal estate in the person so registered as proprietor on his registration, but subject to any mortgage term or charge by way of legal mortgage having priority thereto.
(4)The estate for the time being vested in the proprietor shall only be capable of being disposed of or dealt with by him in manner authorised by this Act.
(5)Nothing in this section operates to render valid a lease registered with possessory or good leasehold title.
Textual Amendments
F1Words in s. 69(3) substituted (1.4.1998) by 1997 c. 2, s. 4(1), Sch. 1 para. 1(2); S.I. 1997/3036, arts.2, 3
Marginal Citations
M11925 c. 20 (98:1).
M31925 c. 20 (98:1).