312. Dispositions of registered land.

A registered proprietor is to be taken to have all the powers of an absolute owner unless any limitation of these powers is reflected by an entry on the register1. Dispositions which must be completed by registration if they are to operate at law are2:

  1.  

    (1)     a transfer;

  2.  

    (2)     the grant of a term of years absolute of an estate in land:

    1.  

      (a)     for a term of more than seven years from the date of the grant;

    2.  

      (b)     taking effect in possession after the end of the period of three months beginning with the date of the grant;

    3.  

      (c)