§ 64 — Transfers of land subject to mortgage or charge

64.—(1) On the registration of a transfer of land subject to a mortgage or charge, and whether the transfer is executed by the transferee or not, there is implied a covenant by the transferee to —(a)

pay the moneys and to perform the obligations secured by the mortgage or charge;

(b)

perform and observe the covenants and provisions thereof; and

(c)

indemnify and keep harmless the mortgagor or chargor in respect of those moneys, obligations, covenants and provisions.

(2) The covenant implied by this section may be negatived by an express statement in the transfer.

—(1) On the registration of a transfer of land subject to a mortgage or charge, and whether the transfer is executed by the transferee or not, there is implied a covenant by the transferee to —(a)

pay the moneys and to perform the obligations secured by the mortgage or charge;

(b)

perform and observe the covenants and provisions thereof; and

(c)

indemnify and keep harmless the mortgagor or chargor in respect of those moneys, obligations, covenants and provisions.

(2) The covenant implied by this section may be negatived by an express statement in the transfer.