The sun., 1891-07-11

only part OF the land named 10 the certifi-
cate be transferred. the memorandum for
transfer Is given only for that part. There
upon the Registrar marks the original cer-
tificate and record cancelled" as to that
part, and the purchaser receives new GER
tificate, to which new folio Is assigned In
the register. mortgage or lease, or other
cncumbrance, is effected In similar way.
The mortgage or Lease Is executed In dupll-
cate, ono counterpart being given to the
mortgagee or lessee, while the other remains
in the Office. memorandum OF the encum-
brance is then made upon tho mortgageor's 8
certificate OF title and upon the Registrars
book, and tho work is complete. When the
encumbrance is removed. a receipt Is en-
dorsed on the duplicate held by the mortga-
| gee and minute OF 1t is made on the Reg
istrar's book and on the mortgngeor's certifl-
cate OF title. Thus. In any case. one folio OF
tho register shows the exact condition OF
tho title. and a person may rely upon
tho record. for the Government guarantees
the title to be ms the register exhibits
it. We may add that an equitable
claim to land may be protected by lodging
with the Registrar caveat forbidding tho
registration OF any dealing with the land
until fourteen days, or other definite period,
shall have elapsed. It appears that tho
most complicated forms Of settlements and
entails arc managed about as readily as Or
dinary transfers. In oil cases all that Is
needed Is clear statement OF the existing
facts on tho certificate and register. The
point to be kept constantly in view Is that
the title shown upon the certificate and reg
lister is indefeasible. Tho history OF the
title-which with us is all important-is OF
no consequence under tho Torrens eystem.
The total cost Of transferring land under
the Torrens system as would be imagined. is
incomparably less than under the old sys-
tenn, which involves examinations and abb
stracts OF titles. After the first entry--the
cost OF which depends on the difficulty and
expense OF searching under the superseded
eystem-from S5 to $40 will suffice for tho
average transfer. 1t should be borne in mind
that in the countries where this system has
been adopted, there is no compulsion re-
garding the registration OF land owned by
private parties. II any landowner wishes
to place his property under this system. he
makes formal application ut the Land
Transfer Office declaring the nature Of his
claim to the land in question, and dcpositing
his muniments OF title. The evidences Of
title together with an Officially certified sur
vey OF the land are then submitted to an Off
cial conveyancer, who reports to the Regis
trar. II tho report be satisfactory, a certiti-
cate Of title s issued to the applicant, vest
ing in him the estate indefeasibly; II the
conveyancer reports unfavorably. the appli-
cation is rejected.
AS regards the workings Of this system,
there seems to be no dispute that it is found
in practice even more beneficial than its adj
vocates maintained it would be. Wherever
the system has become known. 1t is GUS
tomary for purchasers to insist upon Tor
rens title before buying. Another usual ef-
feet OF the system is to raise the valuo OF all
land brought under it. Is there any valid
reason why the Torrens system. or one ap-
proximating to 1t, might not be adopted
with advantage in the State OF New York;