In the case of the registration of a transfer the result is the cancellation of the existing certificate of title and the issue in favour of the transferee of a new certificate which is itself the expression of the effect of the registration and affords a new starting point for the application of the Land Titles Act (f). In the case of the registration of a mortgage the evidence of the registration is merely the entry of a memorandum on the existing certificate of title, or, in other words, on the register (g). A mortgagee nevertheless obtains the benefit of the statute as effectively as if the certificate of title were cancelled and a new certificate were issued to him in respect of his charge subject only to prior registered mortgages and such other interests, exceptions or reservations as are valid against the holder of a certificate of title (h).

(a) Farah v. Glen Lake Mining Co., 1908, 17 O.L.R. 1; cf. Zock v. Clayton, 1913, 28 O.L.R. 447, 13 D.L.R. 502.

(b) As of the date of the certificate or of the date of the last memorandum of a mortgage, whichever is the later date; cf. Man. s. 75. The sections as to the effect of a certificate of title are, Man. s. 79; Sask. s. 59; Alta. s. 42; N.W.T. s. 72.

(c) Including reservations or exceptions contained in the original grant from the crown, unpaid taxes, public highways, a lease or agreement for a lease, for a period not exceeding three years where there is actual occupation under the same, decrees, orders or executions filed and maintained in force against the owner. The exceptions or reservations are to some extent different under the various statutes: Man. s. 78; Sask. s. 60; Alta. s. 43; N.W.T. s. 73.

(d) As to the registration and priority of mortgages, see Sec. 95.

(e) See Sec. 97, infra.

Under the Manitoba, Saskatchewan, Alberta and Northwest Territories statutes, when a mortgage is registered a memorandum of it must be made on the certificate in the reg-istcr and, subject to certain statutory exceptions, on the duplicate certificate, and, unless production is dispensed with, the duplicate certificate must be produced in order that the mortgage may be noted upon it (i). ,So long as the land remains subject to a mortgage, the registrar retains the duplicate certificate on behalf of all persons interested in the land, and, if desired; he furnishes to the mortgagee a certificate of charge (j). Under the Ontario statute a charge is completed by the entry on the register of the chargee as the owner of the charge, and the chargee is entitled to a certificate of charge, if he desires it, and if there is a certificate of ownership outstanding its production may be required in order that all proper entries or alterations may be made thereon (k).

(f) See Sec. 94 as to the effect of a certificate of title.

(g) As is pointed out in Sec. 94, the expression "certificate of title" in the Manitoba, Saskatchewan, Alberta and Northwest Territories statutes mean the folio in the register certifying to the owner's title, of which a duplicate is delivered to the owner, whereas under the Ontario statute the "certificate of ownership" means the document delivered to the owner as distinguished from the register.

(h) Cf. Thorn, The Canadian Torrens System, 90, 91; Gibbs v. Messer, [1891] A.C. 248, at p. 254.

(i) Man. ss. 74, 89, 90; Sask. ss. 50, 54; Alta. ss. 20, 25, 60; N. W.T. ss. 41, 94. The references are to the statutes mentioned in Sec. 93.

Mortgages and other instruments in respect of or affecting the same estate or interest are entitled to priority according to the time of registration, and become fully effective only upon registration (I). As between two mortgages of the same land, that one for the registration of which the duplicate certificate is first produced is entitled to priority, irrespective of the dates of the instruments (m). Under the Ontario statute, subject to any entry to the contrary on the register, registered charges on the same land as between themselves rank according to the order in which they are entered on the register, and not according to the order in which they are created (n).

Registration does not constitute notice to all the world. A mortgagee may make further advances as provided by his mortgage without being affected by the subsequent registration of another mortgage unless he has actual notice of it (o).

(f) Man. s. 127; Sask. s. 101; Alta. s. 71. Under N.W.T. s. 97, the mortgagor is entitled to possession of the duplicate certificate after the memorandum of mortgage has been endorsed upon it.

(k) Ont. ss. 30, 39, 40.

(l) See Sec. 94, and the statutes there cited.

(m) In re Greenshields, 1905, 6 N.W.T. L.R. 208; In re American Abell Engine and Thresher Co. and Noble, 1906, 6 N.W.T. L.R. 359.

(n) Ont. s. 36.

(o) Queensland Trustees v. Registrar of Titles, 1893, 5 Q.L.J. 46; Thom, The Canadian Torrens System, 193. As to the similar rule under the Ontario Registry Act, which expressly provides that registration of an instrument shall constitute notice of the instrument to all persons claiming any interest in the land subsequent to such registration, see chapter 8, The Registry Act, Sec. 76. The priority of a mortgagee with regard to subsequent advances is specially proficate of title or the registration of any transfer, mortgage or other instrument executed by the execution debtor, the execution must be endorsed on the duplicate certificate of title (r). It has been held in Alberta that an execution binds not only lands owned by the debtor at the time of the filing of the execution but also lands subsequently acquired by him while the execution is in force (s).