Page:An essay on the transfer of land by registration.djvu/29

 registrar at an address given. A red ink cross, with the number of the caveat, is then inscribed on the proper foHum of the register. The creditor, upon receipt of such notice, or at any time, may turn his equitable mortgage into a registered charge, by presenting the contract for charge with the deposited certificate of tide at the Registry Office.

Direct settlements and entails are created as follows. The registered proprietor executes a form of transfer to himself or any other person for life, with reversion to others in succession, with or without powers of appointment, and with remainder over as he may prescribe. In such case the existing certificate of title of the land is cancelled, the register folium closed, a fresh folium opened, and a fresh certificate issued for a life estate. Upon the death of the tenant for life this must be surrendered, and a fresh certificate issued to the next reversioner for the estate, to which he succeeds in accordance with the terms of the instrument of transfer executed by the original settlor [sic]. Reversioners may be registered as such to enable them to sell or otherwise deal with their reversionary interests or expectancies.

As regards indirect settlements, no notice of trusts can be entered on the register, but a proprietor desiring to settle his estate through the instrumentality of trustees may transfer his estate to one or more persons, and then deposit in the registry for safe custody and reference any instrument declaratory of trusts executed by the transferees, and by caveat prohibit the registration of any dealing, except in accordance therewith, or with the sanction of the Supreme Court. He may also direct the words "No Survivorship" to be entered on the certificate of title, the effect of which will be, that without the sanction of the Supreme Court no dealing with the property can take place until any vacancy occasioned by death or otherwise in the original number of trustees has been filled up. Persons beneficially interested in any settled estate may, in like manner, by caveat, bar the registration of any dealing