47When instruments etc taken to be registered

47 When instruments etc taken to be registered (1) A grant lodged for registration is taken to be registered under this Act when it is marked by the registrar-general with a folio and volume of the register for the land.

(2) A memorandum of transfer or other instrument purporting to transfer or otherwise deal with or affect an interest in land is taken to be registered under this Act when a memorial of the instrument is entered on the folio of the register for the land. (3) The person named in the registered grant or instrument as the person owning or taking legal possession of (however described) the land or interest in land is taken to be the registered proprietor of the land or interest when the grant or instrument is registered.