53 Necessity of registration
instrument is effectual to pass any estate or interest in that land
(except a leasehold interest for 3 years or for a less period) or to
render that land liable as security for the payment of money, unless
the instrument is executed in accordance with this Act and is
registered under this Act, but on the registration of any such
instrument in the manner hereinbefore prescribed the estate or
interest specified in the instrument passes or, as the case may be,
the land becomes liable as security in manner and subject to the
covenants, conditions and contingencies set out and specified in the
instrument or by this Act declared to be implied in instruments of a
like nature.
RSA 1980 cL-5 s56
RSA 2000