Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-11-03

the certificate. When he again sells
he delivers up his certificate to the
registrar, who thereupon issues a
new certificate to the new owner, and
so on. An exact copy of this certih-
cate is kept in the registry office.
NO mortgage or other lien can be
put upon this property except il is
noted upon the owners certificate
and upon the register; and no judg
ment, attachment or other lien can
be put upon the property unless it is
noted in the register; so that at any
time the owner, by going to the register
may see just how the title stands. All
entries affecting the title are made
on the same page in the registry book
Immediately under the certificate of
title. The manner of keeping the reg
istry books has been aptly likened to
keeping ledger account with each
piece Of property and the transfer of
lot or piece of property to the
transfer of bond or stock in a COM
pany.
The advantages of this system are:
First in the expense, which Is fixed
The first registration costs SIS and an
ordinary transfer from owner to pur-
chaser costs only 50, while under the
present system the cost of an abstract
at each examination may be more
than the property is worth. Second,
quickness, for land can be transferred
and the compensation paid in few
minutes, where it now takes weeks
and sometimes months. Third,
security, for an absolute title is given
to the purchaser at the time of the
transfer. Fourth, shortening of the
records. This feature of the Torrens
law, in addition to its other advan-
tages, will save thousands of dollars
annually to Cook county"
This is the way to register title,
according to Mr.. Hurd.
When everything is ready the
practical proceedings to register will
be about as follows: The owner of
the land will have to have his alb
stract brought down to the time when
he applied for certificate of tide,
showing exactly what his title is and
|
land, This being done, he will make
petition under oath setting out his
title and all membranes, If any,
giving the names of all persons hav-
ing or claiming any adverse holdings
of any nature whatever This will be
presented to the registrar with the
abstract and such other evidences as
he may have. The registrar will
! turn the matter over 10 the examiners,
who will examine the title and re-
! port in writing to the registrar how
/ they find It. Their Investigations
will not be confined to the abstract
and paper evidence of title. They must
inquire into the adverse possession
and such other matters as a purchaser
would have to look up, as the GER
tificate of title will not conclude" a
/ person in adverse possession at the
time of first registration and con
tinuing in such adverse possession at
the time of subsequent transfer.
If the examiners report any flaws in
the title that can be removed the APP
plicant Is given time to do so, and if
this is done they report favorably to
the registrar and he Issues the GER
tificate of title, having first recorded
a copy of it in the certificate book,
That completes the first registration.
he entire cost of this will be SO in
fees TO the registrars office and one
tenth of / per cent. of the value of the
property registered, which goes into
the hands of the county treasurer to
make an indemnity fund, out of which
any person who is injured by a regis
tration may obtain indemnity"