The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-02-23

OF mat day. In less than two hours
the agents for Mrs. Hobbs had Sc
cured loan of $4,000 on the land from
a loan agent. At 3:15 o'clock a trust
deed to the land was filed and the
whole transaction was complete. In
nfteen minutes more the record of
this trust deed had been taken, the ac-
count was closed, and the business
brought to an end. The entire cost for
the certificate was $21.50, and this in
Guided an abstract filed with the deed.
me cost for securing and filing the
trust deed was 49, Under the old sys-
tenn the expense connected with this
transaction would not have been less
than $50 and it might have reached
800. This was the fourth certificate
! issued from the registrars office. More
than one hundred applications have
already been filed in the recorders Of
flee and it is expected that owners of
property will generally take advant-
age of the system.
The bill as passed by the legisla-
ture is a lengthy one but it tells in
concise language the matter under
which the law is to be operated and
1 the conditions governing the issuance
! of certificates. After the registra ton
/ system is adopted by the voters of a
/ county by legal majority, the re-
corder of deeds becomes ex-off1cio
| registrar of titles and in all counties
/ except Cook county in Illinois. he is
required to give bond of $4,000 In
! Chicago or Cook county the bond is
for 100000. The bill provides:
The owner of any estate or interest
IN land, whether legal or equitable,
! and whoever has the power of APP
1 pointing or disposing of the entire
/ legal estate in fee simple. may apply
to the registrar of the county in which
/ the land is situated to have his title
/ registered. He may apply in person or
by an attorney in fact. authorized to
/ do so. A corporation may apply by its
authorized agent; an infant by his
! natural or legal guardian; any person
under disability by his legal guar
dian. The person in whose behalf the
/ application is made shall be named as
applicant.
! The mortgage, lien, charge or lesser
estate than fee simple shall not be
registered unless the fee simple to the
same land is first registered.
1t shall not be an objection to
! bringing land under this act that the
estate or interest of this applicant is
subject to any outstanding lesser
estate, mortgage, lien or charge. but
every such lesser estate, mortgage
lien, or charge. shall be noted upon
the certificate of title and the duplicate
thereof. hereinafter provided for. and
the title or interest certified shall be
subject only to such estates. mort
cages, liens and charges as are so
noted, except as herein provided"
one OF the features of the law
which is highly commended is the
exception made in favor of the own
er OF the piece of property as opposed
TO the holder of tax certificate or tax
deed. AS first proposed before the
legislature no objection was made re-
gardIng tax titles. Complaint was
made as to this and the bill was
changed. AS the law was enacted it
provides no title derived through a
tax sale. or a. sale for special assess
ment shall be entitled to be first
registered unless the applicant can
prove to the registrar that he has
been in undisputed possession of the
property for at least ten years and
that he has paid all taxes and assess
ments for seven years in succession.
The cost of registering land is ma
terially reduced to the big owner by a
provision of the law which stipulates
that one application may cover all
property in any one county.
The certificate to be issued by the
registrar, it is stipulated in the bill,
shall be substantially as follows,
though changes are authorized where
they may be required:
State Of Illinois. - county, - of
(residence and if a minor give his
age; if under disability state the ma
ture of the disability. married to
(name of husband or wife. or if not
married, say not married), is the own
er of an estate in fee simple Cor as the
case may be- in the following land
(here describe the premises), subject
no fa-c
hrances ard charges hereunder noted.
(In case of trust. condition or limita-
ton, say in trust or upon condition.
or with Imitation as the case may
be).
Witness my hand and official seal
this (date).
(SeaL) Registrar
In the event of the giving of
mortgage, lease, or contract affecting
a title to the property, or the selling Of
an undivided interest in the property,
this fact is noted upon the registrars
book and is also noted upon the GER
tifcate in the possession of the owner.
Duplicate certificates may be obtain
ed where one is lost.
The fees which the registrar is al
lowed to charge are as follows For
fling application for first certificate
SIS. except where the title Is derived
from more than one source, IN Which
case an additional IS for each source
may be charged for granting certifi-
cate Of title and registering the same,
81 for registering each transfer in
Guiding all instruments connected
Herewith and the issue and registra-
ton of the new certificate of title, &c.
One Of the important features Of the
Torrens system of land registration as
provided in the law passed by the
Illinois legislature is the building up
of a guarantee fund. On each applica-
ton made for registering land titles
the registrar makes an assessment of
one-tenth of 1 per cent upon the valua-
ton of the property. This money is
paid in to the county treasury where
it goes to the credit of an indemnity
fund, to be used only for the purpose
of indemnifying property owners who
may secure judgment against the
county. Any person who may sustain
loss or damage through any omission
or mistake of the registrar of examin-
er of titles or through the misfeasance
of any officer connected with the iSsu-
ance of titles or any interest there
with through the bringing OF the same
under the provision of the act or by
any mistake, omission or wrong
description in any certificate, may
bring action against the county treas
urer for recovery of damages. Where
such suit is brought and judgment OBJ
tanned by the plaintiff the money is to
be taken from the indemnity fund in
the possession of the treasurer. A
peculiar feature of the law is a pro-
vision under which an owner of prop
erty is entitled to a judgment where
fraud is practiced upon the registrar.