If a transfer purports to transfer the whole of the land mentioned in any certificate of title, the Registrar shall enter in the Register Book and on the duplicate certificate of title a memorandum of the transfer and deliver the duplicate to the transferee; and every certificate of title with such memorandum shall be as effectual for the purpose of evidencing title and for all other purposes of this Act as if the old certificate of title had been cancelled and a new certificate had been issued to the transferee in his or her own name; but when in the opinion of the Registrar any certificate of title cannot for want of space or other cause conveniently bear any further endorsement, he or she may require cancellation and the issue of a new certificate as provided in section 95.