77Transferee—interests and obligations

77 Transferee—interests and obligations (1) On the registration of a transfer, the interest in land described in the transfer, shall pass to the transferee. (2) In the case of a transfer of a mortgage, encumbrance or lease the transferee shall be subject to and liable for, while he or she remains the registered mortgagee, encumbrancee or lessee, all the obligations that the transferor was subject to, or liable for, before the transfer. (3) Where a registered lessee of a Crown lease transfers his or her interest, he or she shall not be liable for any obligation under the lease accruing after the registration of the transfer.