The Ely miner., 1901-09-13
Operation Of TOrrens Law.

way of this new TOrrens law but there
are doubtless many who are not
thoroughly Informed as to details.
When asked for information on the
subject, A. L. Agatin, who was re-
Gently named as examiner of titles b,
the district court judges, said:
81 have already had great many
inquiries as to its operation and the
expense of having the land registele ed,
etc.
"The principals embodied in this
law are excellent and if generally
adopted, will do away with tile pre-
sent cumbersome and expensive met
hod of transferring land.
''Under the present old syst EN-,
titles pass by deeds and other instru-
ments, which are required to be re-
corded in the register Of deeds office
in order TO serve as notice TO subse-
quent purchasers. The latter are re-
quired to search not only for recorded
Instruments, but for judgments and
other proceedings in courts which
has to be made clear Lack to the
government title and is usually done
by the aid Of an abstract of title.
This when secured is sort Of an index
to all conveyances affecting the land.
'The question whether title is good
or not rests upon lie opinion Of the
attorney who examines the abstract :.
and the buyer assumes all the risks as
the correctness Of the abstract and
the opinion of attorney: moreover.
there may be other defects in the
title, sHcca as forged deeds. claims Of
widows, ETC., which cannot be made
to appear Of record. The expense
under he old system. too, is large
when one takes into consideration
the cost of the abstract and attorneys
fees for its examinations
Under the Iurreils ltiW tie initial
expense of having tie title registered
may seem rather large, but, consider
ing what one gets FOR it in compari-
son with the cost of the ordinary eX-
animation OF titles, when no guaran-
tee is given. it is really economy in
the end.
''The initial expense of registration
is as follows: The applicant for regis
tered title must pay fer the original
registration one tenth Of one per cent
of the assessed value of the real estate
on the basis of the last assessment for
general taxation, as an assurance
fund. He must also pay to the regis
trar, on lands having an assessed
valuation of 81, 900 or less. ten dollars
and $3.50 on each 81. 900 additional of
the assessed value Of his land. He has
also to pay So 90 clerk of court fees
and $500 for the granting and regis
tering of his certificate of title.
Among some of the advantages of
the TOrrenS system that may be men
toned are the fact that registered
land may be sold or mortgaged and
money safely paid over within an houl
after making verbal contract. The
certificate of title is conclusive evi-
dence of the ownership in fee by the
person named. and therefore a trans
fer of land can be made as easy as
transferring commercial paper ano
without the aid Of any abstract OF at
torney.
'By the Torrens system the title is
ed and Quieted by law at eacl
transfer, and once having secured {
certificate of title, one tit lie is guaran
teed by tire county, which, under The
law, stands back Of every register &c
title and pays any loss or damage thai
any person may sustain 10y reason O
any mistakes made by any of the Off
cials connected with the TOrrens sys
TEN.
''The cert ificate Of title is practi
cally an insurance policy issued by
the county to the effect that one.
title is conclusive and indefeasible
not only as against any claims ap
pearing OF record. but as against an,
and all clai inns of whatever nature