37. Conditions governing the issue of certificates of registered title.—(1) A certificate of registered title mentioned in section thirty-four, thirty-five or thirty-six may be obtained upon written application by the owner to the registrar accompanied, save as provided in subsection (2) of section thirty-four, by the title deed of the land and shall be as nearly as practicable in the prescribed form.
(2) If the property concerned is subject to a registered mortgage bond, that bond shall be produced to the registrar by the holder thereof, upon the request and at the expense of the applicant for the certificate of registered title.
(3) Before issuing any such certificate the registrar shall cause to be made upon the title deed or deeds in question and the registry duplicates thereof or in the case provided in subsection (2) of section thirty-four, upon the registry duplicate only, and upon the mortgage bond (if any) an endorsement that a certificate of registered title has, in accordance with the appropriate section of this Act, been substituted for the said title deed or deeds in respect of the property in question. The registrar shall further make entries in the registers of the issue of the certificate and shall, if the property is mortgaged, endorse that fact upon the certificate.
(4) Any such certificate when issued shall in respect of the property described therein take the place of the title deed or deeds by which such property was previously held and the issue of the certificate shall not in any manner affect any right or obligation in connection with such property.
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