50.—(1) In the case of land which is registered with a qualified, good leasehold or possessory title, F65[the Authority] may, either on F66[its] own initiative or on an application by the registered owner or other person entitled, if F66[it] is satisfied as to the title, register the title as absolute or good leasehold, as the case may require or admit.

(2) The following provisions shall apply to registered land, other than land registered pursuant to subsection (1) of section 23 of the Act of 1891 or section 26 of this Act:

(a) where the title registered is possessory, an application for the registration of a transfer for valuable consideration or other disposition for value shall, subject to any provisions to the contrary which may be prescribed, be accompanied by all the documents of or relating to the title (including contracts, abstracts, counsel’s opinions, requisitions and replies, and other like documents) in the applicant’s possession or under his control, together with such affidavit as may be prescribed; and where the title registered is qualified, the application shall be accompanied by such documents, if any, as may relate to the matters excepted from the effect of registration, together with such affidavit as may be prescribed;

(b) in any case to which paragraph (a) applies, F65[the Authority] may refuse or postpone the registration until all the required documents have been submitted to F66[it];

(c) where the land has been registered for fifteen years, with a possessory title, F65[the Authority] shall, in any case to which paragraph (a) applies, if satisfied that the registered owner is in possession and after giving such notices, if any, as may be prescribed, register the title as absolute in the case of freehold land or as good leasehold in the case of leasehold land.

(3) The following provisions shall apply to land registered pursuant to subsection (1) of section 23 of the Act of 1891 or section 26 of this Act—

(a) where the title registered is or is deemed to be possessory and the ownership of the land has been registered for more than thirty years, F65[the Authority] may, on the registration of a disposition or transmission on death, if satisfied from the entries in the register or otherwise that no right adverse to or in derogation of the title of the registered owner and protected by the possessory title subsists, register the title as absolute;

(b) where—

(i) the title registered is or is deemed to be possessory, and

(ii) the ownership of the land has been registered for more than twelve years, and

(iii) an application is made for the registration of a transfer for valuable consideration or other disposition for value, and

(iv) a registered transfer for valuable consideration has been made after the first registration of the land but not less than twelve years prior to the application,

F65[the Authority] may, if satisfied from the entries in the register or otherwise that no right adverse to or in derogation of the title of the registered owner and protected by the possessory title subsists, register the title as absolute;

(c) F65[the Authority] may, in any case to which paragraph (b) applies, require the applicant to produce such evidence of the title as F65[the Authority] thinks proper and F66[it] may refuse or postpone the registration until F66[its] requirements have been complied with.

(4) If any claim adverse to the title of the owner has been made, registration under this section shall not be made unless and until the claim has been disposed of.

(5) Where a person other than the owner suffers loss by reason of any registration under this section, section 120 shall have effect as if an error had been made originating in the Land Registry.