58 Implied covenants in transfer
of title has been granted, subject to mortgage or encumbrance,
there shall be implied the following covenant by the transferee both
with the transferor and the mortgagee: That the transferee will pay
the principal money, interest, annuity or rent charge secured by the
mortgage or encumbrance, after the rate and at the time specified in
the instrument creating it, and will indemnify and keep harmless
the transferor from and against the principal sum or other money
secured by the instrument and from and against the liability in
respect of any of the covenants contained in the instrument or
under this Act implied on the part of the transferor.
(2) If a transferee declines to register any such transfer, the
transferor or the mortgagee may by notice call on the transferee or
any other person or persons that a judge may direct to show cause
why it should not be registered, and on the return of the notice the
judge may order the registration of the transfer within a time named
or make any further or other order and on any terms as to costs and
otherwise that to the judge seem proper.
RSA 1980 cL-5 s62