Section 14

Subject to this Act, all instruments registered under any repealed enactment, or entitled to be registered under this Act, have priority according to the date of their registration and not according to the date of the instruments or of their execution.

Nothing in this Act interferes with the priorities as between themselves of any instruments the dates of registration of which are identical.

All priorities given by this Act have full effect in all courts except in cases of actual fraud, to which the person by or on whose behalf the registration is made is a party, and all persons claiming thereunder any legal or equitable interests are entitled to corresponding priorities, and no such person loses any such priority merely in consequence of the person having been affected with actual or constructive notice except in cases of actual fraud to which the person is a party.

Nothing in this section operates to confer upon any person claiming without valuable consideration under any person any further priority or protection than would belong to the person under whom that person claims, and any disposition of land or charge on land which, if unregistered, would be fraudulent and void is, despite registration, fraudulent and void in like manner.