The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-08-09
ANOTHER AUSTRALIAN IDEA.
Tho Torrcns System OF Registering Real
Estate Trnnsfers.


Estate Transfers.
The American Contractor contains
the following in regard to the Austria
linn system of real-estatc transfers,
known Us tho Torrens system. This
system has been In use for over thirty
years in Australia, and, US far Us can
be learned, gives satisfaction and does
not infringe upon anyone's right or
privileges. In south Australia In seven
teen years the total amount of claims
arising on account of titles thus granted
was fifteen hundred dollars. Its dis
cussion by the Illinois State Bar asso-
citation is evidence of the interest that
Is being fclt In 1t and recognition of It's
merits.
''Briehy stated, 1t is what is known
Us registration Of titlcs'-a system by
which, after tho title is registered, it is
transferred only on the books of the
registrar In analogy to the transfer of
registered bonds, stocks, vessels, etc It
most closely resembles the transfer of
vessels, which Is done by the surrender
of the old certificate of registration and
taking out new one in the name of
the new owner. Such q system has
been used In Bavaria, Prussia and other
European states for over hundred
years, and In liam burg for over six hun
dred years It's use among English
speaking people originated In South
Australia by Sir Robert Torrens, and
has been generally known as the Tor
rens system lie claims it was first
suggested to him by the method in use
in transferring vessels So satisfactory
hos hot I L.. It.
adopted In the other Australian col
onies and In Tasmania, New Zealand,
the Fiji islands, British Columbia, Man
itoba and Ontario 1t is also permitted
in England
'"Thc distinguishing feature Is that
the title is transferable only upon the
record on the surrender and cancclla-
ton of tho certificate of title OF the sell
Ter and n new certificate Is issued to the
purchaser.
'If only portion of the land is
transferred certificate Is issued to the
purchaser for the part purchased and n
new one to the owner for tho part which
he retains. If peculiar estate is
created, as for years or for life, n GER
tificate is issued to one for the particu-
Lar estate and to the other for the re-
version or remainder. Every transfer
Is under supervision of the registrar,
and all questions touching it's regular
ity and validity are settled at the time
of the transfer. So no question affect
Ing the title can, therefore, arise except
in case of fraud, and then only while
the property remains in the hands of
the purchaser or others having notice
of the fraud.
ut would do away with the enormous
cost of obtaining abstracts as we'll us
avoid the loss of time incident upon the
present transfer of title. It would
save the state some millions annually
which now are spent in making, keep
ing and storing the thousands of vol
umes upon whose pages the old and
new records are spread in detail, all of
which have to he gone over every time
new owner obtains the fee to the
property unless he accepts in lieu
thereof the guaranty of some title
guaranty trust company, which is good
only SO long rs said company remains
wholly solvent. But the purchaser has
no assurance that If in future years
some hidden claim arises against his
property the titlc-guaranty company
will not be SO incumbercd with suits on
other claims as to be already insolvent,
If perchancc it may not already from
other causes have gone out of business.
THE state, which Is the people in
their aggregate or representative sense,
should be the arbiter, quieter and guar
antor OF all titles to- real property, Just
as it Is the protector OF the individual
rights OF all citizens, and this should be
done at the minimum expense Of money
and time both to the state and the citi-
zen, commensurate with security and
protection to separate rights under the
laws"