FELTON, J.
1. The defendants below contend that under USCA Title 49, § 523 (c), the plaintiff was required to register its title. This section provides: "No conveyance the recording of which is provided for by subsection (a) (1) of this section made on or after August 22, 1938, and no instrument the recording of which is provided for by subsection (a) (2) of this section or subsection (a) (3) of this section made on or after June 19, 1948, shall be valid in respect...
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