No notice of any trust, express, implied or constructive, shall
be entered in the register book or be receivable by the registrar, and subject to any rights and powers
appearing by the register book to be vested in any other person, the registered owner of a ship or of a
share therein shall have power to dispose of the ship or share in the manner provided in this Act and
to give effectual receipts for any money paid or advanced by way of consideration.
advertisement