Section 413. New certificates of title

Upon the application of any owner of
  registered  property  held  under  one or more certificates of title and
  delivering up of such certificate or certificates, the  registrar  shall
  issue  to  such  owner, at his option, separate certificates, each for a
  portion of such property in accordance with such application;  and  upon
  issuing  any  such certificate of title, said registrar shall indorse on
  the last previous  certificate  of  such  property  so  delivered  up  a
  memorial  setting  forth  the  occasion  of the cancellation thereof and
  referring to the number or numbers of the new certificates of  title  so
  issued.