203 Protection of person accepting transfer, etc.
(a) "interest" includes any e state or interest in land;
(b) "owner" means
(i) the owner of an interest in whose name a certificate of
title has been granted,
(ii) the owner of any other registered interest in whose name
the interest is registered, or
(iii) the caveator or transfere e of a caveat in whose name the
caveat is registered.
(2) A person contracting or dealing with or taking or proposing to
take a transfer, mortgage, encumbrance, lease or other interest from
an owner is not, except in the case of fraud by that person,
(a) bound or concerned, for the purpose of obtaining priority
over a trust or other interest that is not registered by
instrument or caveat, to inquire into or ascertain the
circumstances in or the consideration for which the owner or
any previous owner of the interest acquired the interest or to
RSA 2000
see to the application of the purchase money or any part of
the money, or
(b) affected by any notice, direct, implied or constructive, of
any trust or other interest in the land that is not registered by
instrument or caveat, any rule of law or equity to the
contrary notwithstanding.
(3) The knowledge of the person that any trust or interest that is
not registered by instrument or caveat is in existence shall not of
itself be imputed as fraud.
(4) This section is deemed to have been in force since the
commencement of The Land Titles Act, SA 1906 c24, in place of
section 135 of that Act and similar sections in successor Acts.
RSA 1980 cL-5 s195;1994 c23 s26