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Effect of first registration of freehold estate with an absolute title. 15.(1) On first registration of a person as full owner of a freehold estate with an absolute title, an estate in fee simple in the land shall, subject to subsections (3) and (4), vest in the person so registered, whether or not it was theretofore vested in him. (2) On first registration of a person as limited owner of a freehold estate with an absolute title, the person so registered shall, subject to subsections (3) and (4), be, in respect of that land (i)a tenant for life; or (ii)a tenant in tail; or (iii)a person having under the Settled Land Acts the powers of a tenant for life; (3) In either of the cases specified in subsections (1) and (2), the estate of the registered owner shall be subject to (a)any registered burdens affecting the estate; (b)any other matters appearing from the register to affect the estate; and (c)any Schedule 5 burdens affecting the estate; (4) If, on first registration, the registered owner holds the estate as trustee, nothing in this section shall affect his duties and liabilities as such trustee.
© 1970 Crown Copyright
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