That all such
judgments, deeds, conveyances or instruments in writing, registered in
pursuance of this Act, shall have priority one over the other according to the
priority of their respective dates of registration; and that all such
judgments, deeds, conveyances, devises or instruments in writing not
registered in pursuance of this or some former Act, shall (as against any
subsequent bona fide purchaser or mortgagee of the same lands, tenements or
hereditaments for valuable consideration) be absolutely null and void to all
intents and purposes: Provided that nothing herein contained shall extend to
bona fide leases at rack rent for any term not exceeding 14 years.
[Section 3 amended: No. 17 of 1974 s. 9.]