[F1106 Creation and protection of mortgages of registered land.F2E+W
(1)The proprietor of any registered land may, subject to any entry to the contrary on the register, mortgage, by deed or otherwise, the land or any part of it in any manner which would have been permissible if the land had not been registered and, subject to this section, with the like effect.
(2)Unless and until the mortgage becomes a registered charge,—
(a)it shall take effect only in equity, and
(b)it shall be capable of being overridden as a minor interest unless it is protected as provided by subsection (3) below.
(3)A mortgage which is not a registered charge may be protected on the register by—
(a)a notice under section 49 of this Act,
(b)any such other notice as may be prescribed, or
(c)a caution under section 54 of this Act.
(4)A mortgage which is not a registered charge shall devolve and may be transferred, discharged, surrendered or otherwise dealt with by the same instruments and in the same manner as if the land had not been registered.]
Textual Amendments
F1S. 106 substituted by Administration of Justice Act 1977 (c. 38, SIF 37), s. 26(1)
Modifications etc. (not altering text)
C1S. 106 extended by S.R. 20. 1925/1093 (Rev. XII, p. 81: 1925, p. 717) rule 228A (as inserted by S.I. 1977/2089, rule 4)