(1) Subject to the provisions of this Act, notice of a trust shall not be entered in the register.
(2) None of the following persons shall, by reason merely of the receipt by the Authority of an instrument relating to land for the purpose of a registration, be affected with notice of any trust contained in or arising out of matters contained in such instrument:
(a) the Authority;
(b) a registered transferee for valuable consideration of the land;
(c) a registered owner of a charge created for valuable consideration on the land;
(d) a person claiming an interest created for valuable consideration in a registered burden on the land.
(3) In this section "trust" includes express, implied and constructive trusts.