(1) A person dealing or proposing to deal for consideration with a proprietor shall not be required or in any way concerned—
(a) to inquire or ascertain the circumstances in or the consideration for which such proprietor or any previous proprietor was registered;
(b) to see to the application of any consideration or any part thereof; or
(c) to search any register kept under the provisions of Book Eighteenth of the Civil Code.
(2) Where the proprietor of land, a lease or a hypothec is a trustee he or she shall in dealing therewith be deemed to be the proprietor thereof, and no disposition by such trustee to a purchaser in good faith and for consideration shall be defeasible by reason of the fact that such disposition amounted to a breach of trust.
(3) Nothing contained in this section shall relieve a purchaser in good faith and for consideration of his or her obligation to search the Registry.