A number of recent decisions in Australian appellate courts have examined the ambit of the provisions of the Torrens legislation dealing with assignments of leases and mortgages. The basic problem addressed by the relevant provisions is privity of contract for the reason that both these particular interests in land arise in contract, in the same way that the covenants they contain do. As Kevin Gray and Susan Francis Gray put it in the context of a discussion of leases, ‘the lease is a curious hybrid which hovers between the worlds of property and contract’. So when a lease or mortgage is assigned, the question arises as to whether the benefit of all the covenants in the original contract transferred to the assignee, or only some of them. An analogous question relates to the burden of those covenants.