The act of registration, whether under the LTA or the 2002 Act, creates or 13.43 transfers a legal interest in registered land. This principle is implemented through section 41(1) of the LTA by:⁶²⁴ specifically denying instruments any effectual power to transfer any estate �E or interest in land or render it liable as a security; and specifically providing that it is �gupon the registration of the instrument�h �E that the estate or interest passes or the land becomes liable a Originally, when all instruments had to be presented by hand at the designated 13.44 land registry offices for the land registration district, this was simple to administer. It has become complicated as the number of LINZ offices has decreased, other modes of presentation have been provided,and e-lodgement has been introduced. A paper instrument lodged via the post or by drop-box is deemed to have been 13.45 presented �gon the business day after the day on which it is received �c and before any other matter presented on the day of registration in relation to the same land�h.⁶²⁵ As the prescribed lodgement hours are between 9 am and 4 pm, priority is deferred until 9 am on the next working day after the day upon which the instrument was originally received in the land registry office. The delay in deemed presentation is necessary to cope with the time needed to process instruments presented manually as against the �ginstantaneous�h presentation of electronic instruments. Electronic instruments are registered as at the date and time they are submitted, 13.46 even though an instrument affecting the same computer register may have arrived at LINZ via the post or in the drop-box earlier on the same day, but was not entered into Landonline by LINZ staff. Anyone who has concern about securing priority for their transaction in a more 13.47 immediate fashion can do so by presenting the instrument by hand under section 47(1)(a) of the LTA. Once e-lodgement is extended to caveats there should be less need for this 13.48 provision. However, because people must have the option not to use conveyancers and the ability to present their own caveats and other instruments manually, this provision must be retained. If two competing instruments are lodged via the post or drop-box on the same 13.49 day in respect of the same land, priority must be determined in accordance with section 47(5) and (6) of the LTA. These provisions: relegate competing caveats and notices of claim; and �E require priority of other instruments to be allocated according to the stamped �E date and time of receipt by the Registrar. Section 41(2) of the LTA deals with the situation where two or more instruments 13.50 executed by the same proprietor and purporting to transfer or encumber the same estate or interest in any land, are simultaneously presented for registration. The subsection provides that the Registrar shall register and endorse the instrument which is accompanied by the grant or certificate of title. 624  See Struan Scott and others 625  Land Transfer Act 1952, s 47(4). Review of the Land Transfer Act 1952 163