A person named in an instrument as acquiring registered land in a fiduciary capacity may be described in that capacity and the instrument may disclose brief particulars of the trust relating to the consideration paid and for providing that the person named assumes liability only to the extent of an estate or interest of which the person is a trustee.
instrument
“instrument” includes a transfer, lease, mortgage, transmission application, charge and any other application, or any other document in writing relating to any disposition, devolution or acquisition of land or any claim to or vesting of interest in land;
The Registrar must not enter particulars of the trust except that he or she may describe the person having fiduciary capacity as a trustee in a folio or the relevant instrument but the description of a person as trustee in the folio or the instrument does not affect the operation of section 47.
Subject to the provisions of any caveat affecting the land, a registered proprietor of an estate or interest who is a trustee holds the estate or interest on trust for the persons and purposes to which it is applicable by virtue of the instrument creating the trust.
land
“land” means —(a)the surface of any defined parcel of the earth, so much of the subterranean space below and so much of the column of airspace above the surface whether or not held apart from the surface as is reasonably necessary for the proprietor’s use and enjoyment, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto; or(b)any parcel of airspace or any subterranean space whether or not held apart from the surface of the earth and described with certainty by reference to a plan approved by the Chief Surveyor and filed with the Authority, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto,and where the context so permits, the proprietorship of land includes natural rights to air, light, water and support and the right of access to any highway on which the land abuts;
Any purchaser dealing with the registered land which is held in a fiduciary capacity need not be concerned to enquire whether a dealing of that land is within the powers of the registered proprietor and the purchaser is entitled to assume that the registered proprietor has all the powers of disposition of a beneficial owner and as the absolute proprietor of the estate or interest in question.
purchaser
“purchaser” means a person who, in good faith and for valuable consideration, acquires an estate or interest in land, and includes a mortgagee, chargee and lessee; and