(1)  A registered proprietor may transfer the registered proprietor’s estate or interest in land by a memorandum of transfer in an approved form.

(2)  On a transfer referred to in subsection (1) being registered, the estate or interest of the transferor, as set forth in the transfer, with all rights, powers, privileges, requirements and liabilities belonging or appertaining to that estate or interest, shall pass to the transferee.

(3)  A registered proprietor may surrender land to the Crown by the form of transfer mentioned in subsection (1) , and when registered the transfer shall be deemed to have been duly enrolled of record.