The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1902-11-19

RESEARCH CLUB
FAvORS A CHANGE
Will Ask Aid of the Two Com
msrciaI Bodies and the Bar
Association.

The Young Mems Research Club,
with the expected aid of the Chamber
of Commerce, the Merchants Associa-
ton and the Bar Association, will try
to secure the adoption by the next leg
islature of the Torrens system of land
registration for Hawaii. At a meeting
of the Research Club last evening at
the Home of Frank c. Atherton, a
committee was empowered to me-
morfalize Governor Dole to recommend
to the legislature the passage of bill
drawn upon the line OF the Torrens
system, now in successful operation in
Massachusetts. The aid of the other
organization is also to be asked to
bring influence to secure the adoption
or this much to be desired legislation.
The meeting last evening was largely
attended. The first work was the pres
entation Of the report of the commit
tee appointed to investigate the vari-
Gus systems of land registration.
This was read, as follows:
The Land Title Registration Acts of
the United States, following other coun-
tries, adopt a system of registering a
land title, in place of the mere evidence
of title, such as deeds, probate proceed
ings wills, etc. 1t abolishes the ne
cessity of histories of title or abstracts,
and substitutes system of insured
certificates of title, as certain and
prompt as the ordinary certificates of
stock in a corporation.
The objections to the present system
may be summarized, as Expense, De-
lay, Insecurity.
Expense, because of the constantly
increasing chain of conveyances, and
consequent expensive abstracts; and
opinion of counsel on the title.
Delay, because of the necessary alb
stracts, of furnishing evidence to sup
ply the breaks in the record of the title,
and of negotiations to correct defects,
: opinion of counsel on the title.
Insecurity, because of mistakes in the
abstracts, and because a court of law
may give an opinion contrary to the
opinion of counsel Cfor counsel do make
mistakes of law. Often no counsel can
foretell what a jury would find on the
sects), IL before him for opinion on
xacts, as well as law. Delay is further
cccasioned by these defects, and real
estate is proverbially "slow" asset.
Experience in Massachusetts, indi-
Gates that the Torrens system will cor
rect these defects.
1. It will make land quick asset.
2. Initial registration will be equal
to single transfer under the present
system. In subsequent conveyances the
transfer will be much less. In ordinary
cases the cost will be- from two to three
dollars.
8. Promptness. When once register
ed the transfer or mortgage including
the examination of the title can be COM
pleted within an hour.
4. The records are simplif1ed and
shortened. No conveyances are re-
corded. A deed is only a binding con-
tract to sell and to deliver the certifi-
cate of title to the buyer, and an
authority to the buyer to transfer the
title on the registrars books.
In general, the principles of the Tor
rens lana system in the United States
are:
- All S1>oiisAAiettloil VI tlllS DN d Coui
OF competent jurisdiction, with actual
or constructive notice to all claimants,
and unknown owners.
2. A registration of the man and the
title found upon such examination.
g. Issuance by an administrative Of
ficer of certificate of such title, with
its membranes thereon noted.
4. The recalling of such certificate
and the re-registration of title with ev-
cry subsequent transfer.
5. The barring of any claims or in
terests in the land not noted on the
original certificate and the copy there
of issued.
6. Indemnity against loss by mistake
or fraud on the part of the purchaser
by government Insurance fund.
In Canada, further valuable provis-