Section 7: Effect of non-compliance with section 6
35.The effect of not complying with the requirement of registration is:
where the event is a transfer, the transfer becomes void and the transferor hold the legal estate on a bare trust for the transferee (subsection (4) avoids the possibility which arises under subsection (1) of converting an unregistered fee simple into a determinable fee, which is not a legal estate); and
where the event is the grant of a lease or the creation of a protected mortgage, the grant or creation is void and takes effect instead as a contract made for valuable consideration to grant or create the lease or mortgage concerned.
36.If a transaction has become void under these provisions and the registrar then makes an order extending the period in which an application for registration can be made, it is treated as having never become void.