Of course this scenario breaks down quickly..
Listed registrant A "sells" to B who "sells" to C who...
Now the sucker who "buys" from C has the problem of tracing authenticity
of the "title" C is selling. This is not easy, particularly if B is less
than scrupulous and has "sold" title to a number of folk including
C, or if C is unscrupulous and is "selling" without have concluded
and transaction with B.
The Land Titles office is there for a damn fine reason. We ignore the
seeds of destructive anarchy in the IP address space at our collective
risk (or is that peril?)