81. This Division shall apply to a mortgage which was registered under the Registration of Deeds Act (Cap. 269) before the mortgaged land was brought under the provisions of this Act and the mortgage is notified on the relevant folio created for the land when the land is brought under the provisions of this Act either before or after 1st March 1994.
—(1) Where the mortgagee of a mortgage to which this Division applies has exercised his power of sale, the mortgagee shall execute a transfer in the approved form for the purpose of transferring all the estate and interest in the land to the purchaser.
—(1) No instrument in respect of any future dealing with a mortgage to which this Division applies (including a reconveyance and a conveyance of the mortgagee’s estate or a sub-mortgage), or pursuant to such a mortgage, shall be registered under the Registration of Deeds Act except in respect of any dealing which has been executed by any party to the relevant instrument prior to 1st March 1994.
(2) Where the Registrar of Deeds has inadvertently accepted for registration any instrument for any dealing completed after 1st March 1994, the Registrar of Deeds may cancel the registration of the instrument after having given 21 days notice to the person who presented the instrument for registration unless in the case of any provisional registration of the instrument, the person has agreed to withdraw the instrument from registration.
—(1) Where before or after 1st March 1994, the court has made an order for foreclosure in respect of a mortgage to which this Division applies, the mortgagee in whose favour the foreclosure order is made shall —
lodge an application in the approved form with the Registrar and not the Registrar of Deeds for the purpose of registering the court order; and
furnish the Registrar with an office copy of the order.
(2) The Registrar, upon being satisfied that the court order is in order for registration, shall register the order by entering a memorial of the court order in the relevant folio.
(3) A court order entered in the land-register under subsection (2) shall have the effect of vesting in the applicant mortgagee all the estate and interest of the mortgagor in the land referred to in the court order freed from all right and equity of redemption on the part of the mortgagor, and freed and discharged from all liability on account of any mortgage, charge or other interest registered subsequently thereto except such leases or other interests as may be binding on the applicant mortgagee.
(4) The Registrar of Deeds may refuse to accept for registration a court order referred to in subsection (1) and where the Registrar of Deeds has inadvertently accepted the order for registration, the Registrar of Deeds may cancel the registration of the order after having served 21 days notice on the person who presented the order for registration unless in the case of any provisional registration of the order, the person has agreed to withdraw the order from registration.