Memorandum of transfer

(1) Every person who desires to transfer to another the title to any land of which he is the registered proprietor shall execute a memorandum of transfer in the prescribed form and present it together with his duplicate certificate of title and any other necessary documents to the Registrar. (2) If the Registrar is satisfied with the sufficiency and correctness of the memorandum of transfer, he shall prepare in duplicate a new certificate of title to the land affected by the memorandum of transfer in favour of the person named as the transferee in the memorandum, and he shall before delivering the new duplicate to the new registered proprietor cancel the previous certificate of title by writing across the registered duplicate thereof in red ink the word “cancelled” and make a reference thereon to the folio and volume in which the new certificate of title is registered. (3) The Registrar shall also make on both duplicates of the new certificate of title a reference to the certificate of title which has been cancelled by stating the folio and volume in which it was recorded. (4) The duplicate certificate which was handed in by the transferor with the memorandum of transfer shall be cancelled and together with the memorandum and any other document be retained by the Registrar.