315. Third party interests.

Third party interests in registered land may be protected by the entry of either a notice or a restriction1. A person must not apply for entry of a notice or restriction without reasonable cause; and this duty is owed to any person who suffers damage in consequence of its breach2.

A notice is used to protect interests that will not be overreached on a disposition (for example, restrictive covenants and equitable easements) and will therefore continue to affect the land. A notice may be either an agreed or a unilateral notice3. The following interests are excluded from protection by way of notice:

  1.