The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1886-06-05
TRANSFERRING OF REAL ESTATE.
Simplicity OF the Australian System-No
Long Searches of Records.

Simplicity OF the Australian Systemic
Long Searches of Records.
The simplicity and inexpepsiveEess Of the
Australian system called the "Torrens'
system, iroa, Sir Robert Richard Torrens
nave been heretofore alluded to- Theodore
Sheldon OF this city has made study Of
the method practiced in that country and
presented the fruits Of his study in a pam
phlet 1t is such an advance on our way OF
doing things that there is no probability OF
its adoption here for many years, il ever
but it is worth describing, if only to show
what can be accomplished in that line and
what disadvantage We are laboring under.
The government simply acts as a transfer
| agent, guarantees tho title to the purchaser,
and agrees to indemnify, from an assurance
| fund, any person who may afterward lie
found to have lost an equity.
The first registration Of a piece OF prop
erty i, made in the following manner: The
person claiming to be the owner submits his
deeds and other evidences of ownership to
the registrar, and for fee of s. three ex-
amners pass upon those evidences II he
Is not found to he the rightful owner the
matter is at once dismissed without further
cost If the title is accepted the applica-
ton is advertised and the names of persons
likely to be interested are reported, as also
the names of persons owning or occupying
adjoining land. If a caveat is filed the ac
ton Of the registrar is suspended till it is
withdrawn or decree is issued by court
But caveats lapse in three months unless
proceedings are begun under them
If no cayeat i, filed within the time pre-
scribed by law, or caveat is filed and then
withdrawn or set aside, an indefeasiblo title
is granted to the applicant. A certificate
is then issued, IA copy of which is retained in
the oii.ce OF the registrar These certificates
describes the properly, the nature of the
holders tenure, and other essential facts,
and space is lett on the certificate to show
subsequent transfers, mortgages, etc. When
a sale is made it Is necessary only to take
up the certificate and / sue u new one to tn
buyer In case a certificate becomes incum-
bered with memoranda of released mortga-
geS, tax liens chat have been satisfied etc,
the owner may obtain IA new and clean GER
tidcate at small cost. 1t will be seen that
this system OBJ iates the necessity OF long
searches Of the record Each certificate
represents a certain unnistakable thing
which can be bought and sold by the
transfer OF that certificate.
Under tAls system, To quote Mr.. Shell
don's words, lit should he no unusual thing
for large interests to lie sold or moytsaged
within an hour at a cost OF from 81 to So
Provision is also made for settlements
trusts, etc, with the anne oh. Get OF sim
plicity in view a transfer of property can
be made by persons outside the state, with al
most as little trouble as the transfer Of a
stock, the certificate Icing sent to the Office
OF the registrar for record in the new name.
The system has been in operation in South
Australia for over twenty five years and in
other colonies ami countries long enough to
fully test its value. 1t was adopted last
year in Manitoba Chicago Trihuue