§ 63 — Form and effect of transfers

63.—(1) The proprietor of an estate in land, or of a lease, mortgage or charge, may transfer the same by an instrument of transfer in the approved form, and upon the registration of such instrument the estate or interest of the transferor as therein set forth, together with all easements, rights and powers belonging or appertaining thereto, pass to and are vested in the transferee thereof as proprietor.(2) On the registration of any transfer of a mortgage or charge, the transferee becomes entitled to all of the rights, powers and remedies of the mortgagee or chargee expressed or implied in the mortgage or charge, including the right to recover any debt, sum of money, annuity or damages (even though the same may be deemed or held to constitute a chose in action), and all interest in any such debt, sum of money, annuity or damages vests at law as well as in equity in that person.

—(1) The proprietor of an estate in land, or of a lease, mortgage or charge, may transfer the same by an instrument of transfer in the approved form, and upon the registration of such instrument the estate or interest of the transferor as therein set forth, together with all easements, rights and powers belonging or appertaining thereto, pass to and are vested in the transferee thereof as proprietor.

(2) On the registration of any transfer of a mortgage or charge, the transferee becomes entitled to all of the rights, powers and remedies of the mortgagee or chargee expressed or implied in the mortgage or charge, including the right to recover any debt, sum of money, annuity or damages (even though the same may be deemed or held to constitute a chose in action), and all interest in any such debt, sum of money, annuity or damages vests at law as well as in equity in that person.