Upon the bankruptcy of the proprietor of any land, lease or mortgage, or upon any bankrupt before obtaining his or her discharge becoming proprietor of any land, lease or mortgage, the Official Receiver or trustee shall be entitled to be registered as proprietor in respect of that land, lease or mortgage; and the Registrar, upon the receipt of an office copy of the appointment of the Official Receiver or trustee accompanied by an application in writing under his or her hand to be so registered in respect of any land, lease or mortgage of the bankrupt therein described, or of any estate or interest to which he or she was before the adjudication or after adjudication, and before obtaining his or her discharge, entitled or able to transfer or dispose of under any power of appointment or disposition which he or she might legally execute for his or her own benefit, shall enter in the Register Book upon the folium constituted by the certificate of title of the land or on the lease or mortgage a memorandum notifying the appointment of the Official Receiver or trustee; and upon that entry being made, the Official Receiver or trustee shall become the transferee and be deemed to be the proprietor of the land, lease or mortgage, estate or interest, and shall hold it subject to the equities upon and subject to which the bankrupt held it, but for the purpose of any dealing with it under this Act the Official Receiver or trustee shall be deemed to be the absolute proprietor thereof.