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Registration of Affidavit to have the Effect of a Mortgage.
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VII. And be it enacted, That the Registration as aforesaid of such Affidavit shall operate to transfer to and vest in the Creditor registering such Affidavit all the Lands, Tenements, and Hereditaments mentioned therein, for all the Estate and Interest of which the Debtor mentioned in such Affidavit shall at the Time of such Registration be seised or possessed at Law or in Equity, or might at such Time create by virtue of any disposing Power which he might then without the Assent of any other Person exercise for his own. Benefit, but subject to Redemption on Payment of the Money owing on the Judgment, Decree, Order, or Rule mentioned in such Affidavit; and such Creditor, and all Persons claiming through or under him, shall, in respect of such Lands, Tenements, and Hereditaments, or such Estate or Interest therein as aforesaid, have all such Rights, Powers, and Remedies whatsoever as if an effectual Conveyance, Assignment, Appointment, or other Assurance to such Creditor of all such Estate or Interest, but subject to Redemption as aforesaid, had been made, executed, and registered at the Time of registering such Affidavit.
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