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LAND REGISTRATION ACT (NORTHERN IRELAND) 1970 - SECT 41

41.(1) A registered owner of land may, subject to the provisions of this Act,
charge the land with the payment of money either with or without interest, and
either by way of annuity or otherwise.

(2) A charge under subsection (1) may be created by deed or by will and,
subject to subsection (3), the Registrar shall, on registering such a charge
as a burden, register the ownership of that charge in such register as he may
consider proper.

(3) Where a charge created by will does not expressly charge any registered
land with payment to a specified person of a specified sum, with or without
interest, or of an annuity, the Registrar shall not, unless the court
otherwise directs, be obliged to register the ownership of that charge in any
register.

(4) Any power, howsoever conferred, to borrow or lend money on the security of
a mortgage shall be construed as including power to do so on the security of a
registered charge.

(5) Part I of Schedule 7 shall apply in relation to the registration and
effect of charges created by registered full owners of land and registered
limited owners of land and by persons having the like power to create such
charges.

(6) Part II of Schedule 7 shall apply in relation to the creation and effect
of charges by registered limited owners of land acting in conjunction with all
other persons entitled under the settlement.

(7) Part III of Schedule 7 shall apply in relation to the validity of certain
charges purporting to have been registered in the Land Registry at the 28th
July 1957.

© 1970 Crown Copyright

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