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Mortgagee - bank
Mortgagors -borrower
Registered title-legal interest bank has a registrable interest/bank can register interest for mortgages
Equitable interest- family member/unconscionable conduct
Restrictive covenant***
Caveats read it. Notice
***** So, if someone buys a town house and becomes the registered owner on title they will not defeat the short term lease holder, whose interest will prevail over the new registered proprietor
Any interest gained by registration will prevail over earlier registered interests, except for paramount unregistered interests ***********
Frazer v Walker [1967]****
•Basic rule of priority = registered rights take priority in the order they are registered
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