(1) The owner of any one or more undivided shares in any land or a charge may be registered with the addition of the prescribed entries in the register for the purpose of showing the share which he holds in the land or charge.

(2) Two or more persons may, in such manner and subject to such conditions as may be prescribed, be registered as owners of the same land or of a charge on land, and where two or more persons are so registered they shall be deemed to be joint tenants, unless there is an entry in the register to the effect that they are tenants in common.

(3) On the registration of two or more persons as owners of the same land or of the same charge, an entry may, with their consent, be made in the register to the effect that, when the number of those owners is reduced below a certain specified number, no registered disposition of the land or charge is to be made except by order of the court.