Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1884-12-04

lana NEAHhNtf AHtInInts
EpiIon HsaAlb.-I have received ibe
prospectus d the Land Transfer Refofn
Association o. New york copy Of ATE
paFs adopted BY the Kew York chamber Of
Oolamerce. % the snbleci Of reform IN
me ttansict o. titles 60 real estate, aud
copies ~ bills on she same subject Intro
ineea inibthe Sow York iesialstpfe q H.
iast session The mbiect Is Of sacli Interest
ana Importance thas venture 10 irespuss On
yesf space with what viii, fear, prove
rather long communication, The method
u transferring land which Il being adyo-
Gated IN New York, has been in operation
10 Australia for the last fifteen years. a
bin % Introduce the method into csnaas
will come before Parliament there Al IL
next session. aud see BY lhe Knglisls press
that tho system "a beipg advocated there
and WI qhoftiy lie put 10 operation ia lee
land
In the lsrre cities 81 The s'nlled States The
accumulation 81 the records Of deeds, mort
gagss, wills etc, has become 80 rapid that
Il is now generally admitted that the pres
enl systom Of transfer Of resi- estate must be
altered and improved Up to September,
1857 bookf % deeds and mortgages had seen
nnIaied IN the Registers Office Of The city Of
New York 10 the number Of 35ii, occupying
q lIne Of shnlyes liza feet IN length q quote
from W'e 81 the pamphlets referred 10
aboge). Ai the pressnt rate Of increase they
will number 1901 Ia I'M Referring to this
Increase aud 70 the multiplicity Of names Ia
the induces. tie Chamber Of Commerce ~.
port stetes that 10 coueequenre, searches
Will shortly become Hiincsi impossible. and
ia the not very distant future absolutely
impossible Although the position u
affairs here Is not 50 soriuus a. II Is repre-
scented TO be ia New York, nevertheless,
below make Il appsrent that il Il equally
important that the system of transfer pro
posed 10 he introduced Into New York should
BE- advocated aud carried here also. Under
the present system OF transfer OF rual estatc,
on every transaction the purchaser employs
and pays an attorney ~ see that the title ls
gfDdi Ar the attorney irresponsible In dam
ages Tor the sdfice he gives u Is necessary
iOr him 10 go all over the work which has
perhaps been performed q dozen times by
other atlOruuSsIn previous transactions with
the same property. The cost Of these exam.
nations Increases ysarly aud proves heavy
tax on persons dealing Ia real estate. I'm
daf The system proposed 20 be Introduced
into New ratk the Necessity o. these siieres
sise examinations ceases aftrr ths tapd 10
once bought under the new syatem, The
following extract from an address delivered
By W. H. Oltnstead before the New York
State Bar Association explains the proposed
reformation Ia The law governing the trans
fer OF land
would be something "a this wieaf An owner
wishing to register Ward No. :, In Ward 10,
BLOCK W IN the city Of New York, Ia which
ne has u freehold interest, makes proper
application 10 the ReaiAtrar, deposidng With
him vi the same time the deeds, abstracts
aud other muniments % title IN his posses
sion Relating t. the property For small
fee, the Registrar examines aud ccrtiheg a.
fa.f ia Il flttt
applicant a certificate which briefly de
serbcs the property stating the intefsst OF
the applicant, OF the various owners ! more
than one, and rShlhiling gu is face AZ ense'
ments, inSrlgeges and other liens. 1.-THE mp
plieant desires, he may Rave the iite certi-
he'd BIZ the kegistfar OH The bcriifi.
cate Of sonuselufatlaw which shall
be died, md al entry be made
was examined and approved, II an owner
afterwards wishes TO convey his property,
he executes q short deed or memorial OF
transfer Ia duplicate In the form prescribed.
and gives the same together with his certif
cate n title, - the purchaser, who keeps
| one dnpiicste deed and ntcs the other with
| the Registrar. surfendering 70 the latter at
| the same tune the old certificate Of title,
1 which Is esnceled ard iied away. This Il
not different from the ordinary method of
/ ansferring stock II the purchaser ho
/ careful man I've will eNtmtne the register
! Ia The Registry Office before paying the con.
| ing an RdVance hy way OF loan. The state
| 81 The tile will be seen Immediately for no
ysiid transfer can be made except 90 the
/ register should a Further eKamlBatipn Df
I the Tide he desired beyond the Registrars
| certificate, M Che previous deeds OF trans
| fer ard certificates OF title could be exam
1 ined Ia Il few lnoinents. Any nutiet % Il
! ciaiin or lien died with the Registrar must
! Immediately he enIered ~ him ON the Ger.
| tihoate 81 the title kept IN his office. Thus
| kegstrar's Certlheate OF Title would always
show the conditions Of the title at the time Of
/ is Rslip
! The New TX Chamber OF Commerce
| have requested the Legislature % appoint
! commission to consider this question aud
make the following recommendations
! That 81 iustituliug registration of titles
| indekcd hy the block and ward numbers OF
| the several wards.
Tint Of repeating the laws which permit
! general liens upon real property, and leay-
ease 81 personal property
That III abrogatng The legal distinctions
| between real and personal property, as to IN
Inheritance and distribution
That, after a eertuin date, the validity Of
MI titles to toe transferred be determined hS
public officer qualified Tor that purpote,
| aud certificate Of ownership be issued,
! which leertihcaiel shall carry with Il the
! tide 90 the properly aud be negotiable by
| transfer In some msuner similar 10 that Of
1 railroad and other stocks, government ana
! other bonds or warehouse receipts. These
I warehouse receipts carry the title u the
property, snd are now current. 40 security
tor banking purposes, the saIue As are stocks
and bonds, usadding greatlyt TO the facili
| Ties OF merchants In the Prosecution OF their
I business
Il only remains to be said that this system
has been III successful operation In Austra-
| lis Tor nearly % years that the cost OF
transfers under Il Is less than tenth OF the
average cost under our present system that
nnd0r it purchasers nave atitle that Is abso-
| lntely Indispensable, and that Transfers can
be made rs easily aud quickly as transfers
| Of gOvernme nt or bank stock.
trust that Bar association viii be
formed here, and that H. principal nbieet
| win be the introduction 81 the system Of
land transfer impeffecly described above.
G WHITE MoRFiNEE. Attorney al Law,
I Los Angeles, Dec 2nd, lSsi