118 Tenure of person registered in place of deceased owner
hold the land in respect of which the person is registered, on the
trusts and for the purposes to which it is applicable by this Act or
by law and subject to any trusts and equities on which the deceased
owner held it, but for the purpose of any registered dealings with
the land, the person is deemed to be the absolute and beneficial
owner of the land.
(2) Any person beneficially interested in any such land may apply
to a court having jurisdiction to have it taken out of the hands of
the trustee having by law charge of the land and to have it
transferred to some other person or persons, and the court, on
reasonable cause being shown, shall name some suitable person or
persons as owner of the land, and on the person or persons named
accepting the ownership and giving approved security for the due
fulfilment of the trusts, the court may order the Registrar to cancel
the certificate of title to the trustee, and to grant a new certificate of
title to the person or persons named.
RSA 1980 cL-5 s118;1988 c27 s45