Section 27

Where a registered mortgage is discharged, the Registrar must, on production of the mortgage, with the discharge duly signed and attested, make an entry in the register to the effect that the mortgage has been discharged, and on that entry being made, the estate (if any) which passed to the mortgagee vests in the person in whom (having regard to any intervening acts and circumstances) it would have vested, if the mortgage had not been made.