29(1)A registered mortgage, a registered lease and a registered debenture may be assigned by the registration of an assignment in prescribed form.

29(2)In case of a charge by a mortgagee of his interest in a mortgage, the person in whose favour the charge is created shall be deemed to be the transferee of the interest and shall have all rights and powers as such, subject to the provisos and conditions expressed in the instrument creating the charge or implied therein by virtue thereof.

29(3)Upon the registration of an assignment of a mortgage, lease or debenture, the interest of the assignor in the mortgage, lease or debenture with all rights, powers and privileges thereto appertaining passes to the assignee, and the assignee is then subject to the same limitations and obligations, to the extent of the interest assigned, as if named mortgagee, lessee or lender in the original mortgage, lease or debenture.

29(4)By virtue of every registered assignment the right to sue upon the mortgage, lease or debenture and to recover the estate, the amount assigned or damages, and all the interest of the assignor in the estate, amount or damages, vests in the assignee.

29(5)Nothing contained herein prevents a court from giving effect to any trusts affecting such estate, amount or damages, or the interest of the assignor in the estate, amount or damages, if the assignee holds them as trustee for another person.

29(1)A registered mortgage, a registered lease and a registered debenture may be assigned by the registration of an assignment in prescribed form.

29(2)In case of a charge by a mortgagee of his interest in a mortgage, the person in whose favour the charge is created shall be deemed to be the transferee of the interest and shall have all rights and powers as such, subject to the provisos and conditions expressed in the instrument creating the charge or implied therein by virtue thereof.

29(3)Upon the registration of an assignment of a mortgage, lease or debenture, the interest of the assignor in the mortgage, lease or debenture with all rights, powers and privileges thereto appertaining passes to the assignee, and the assignee is then subject to the same limitations and obligations, to the extent of the interest assigned, as if named mortgagee, lessee or lender in the original mortgage, lease or debenture.

29(4)By virtue of every registered assignment the right to sue upon the mortgage, lease or debenture and to recover the estate, the amount assigned or damages, and all the interest of the assignor in the estate, amount or damages, vests in the assignee.

29(5)Nothing contained herein prevents a court from giving effect to any trusts affecting such estate, amount or damages, or the interest of the assignor in the estate, amount or damages, if the assignee holds them as trustee for another person.