Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1903-02-16
WHAT THE TORRENS LAW WILL ACCOMPLISH


The cost of the above procedure will,
In the majority of cases. be less than
transfer under the present system.
But the owner not only secures all the
benefits that accrue under the present
system but the further protection Of
perfect title. guaranteed by the Terri
tory, and he can therefore suffer no
loss through mistake or fraud, as 10
now the case.
All subsequent dealings with regis
tered land. by way OF mortgage, by
lease or by sale. can be negotiated in
une.half hours time. The owner deliv.
ers his certificate. together with his
deed. to the Recorder who cancels the
same ana Immediately delivers to the
! purchaser a new certificate In the
name OF the purchaser.
In the case of lease, there is issued
to the lessee a lessee's certificate
which clearly shows his rights in the
property, while the owners certificate
has memorandum endorsed thereon
showing the property to be held sub
ject to the aforesaid lease.
| A loan on property Is negotiated as
under the present system, the owner
delivering his certificate aud the mort
gage to .he recorder. who endorses on
the owners certificate the fact that the
property Is held subject to an existing
mortgage the facts OF which are emu
nerated. and issues to the MORTGAGE a
mortgages certificate showing the
claim which sucn mortgage has upon
the property mentioned in such certif
cate.
All of the above holders Of certifi.
Gates are p detected from loss. by virtue
OF imperfect title or fraud, by the guar
antee of the Territory when title is
first registered.
The Territory is amply protected
from such drains by the setting aside
o, an insurance fund namely: one.
',nth Of per cent of the assessed val
ne OF the land, which Is assessed
against each parcel of land on its mi.
tial registration as part OF the fees for
registration.
Transfers under this system after
the initial registration will be compar.
atiNeiy inexpensive as tnere VIII We Nv
expensive searching of the records to
ascertain TUE It VIII all snow upon
cue single sheet OF foolscap namely,
the certificate OF registration. The
average cost of such a transfer would
not be eyer three dollars.
Inns may seen w ~ WIN s'a'''
hent o' h''k'' Out WYNN Tue opel', 'oh
vi thi5 s!stelh 10 "eii "h"'' ''o'u IL
VIII oe Ieau'i' "sreeu w.
III oIu'h"rS 'erins' inns ssS'eni may
oe sa'u 10 contemplate 'ne 'ianuiiis VI
eacn parcei VI ianu III an account W
i'sei'' said account 10 ne easily reie'
req 10 al the hecoraers once ny
sinhple relerehce W s'nsie sheet vi
PAPER "nereoh win Ne 'ounu 'he a"so
'u'e cohu'tioh oi tue at 'ne "ihe y,
resis'ra''oh' anu succlnc' aecouh. VI
my SUBSEQUENT 'iahsiels vi en.ai'
E'ahees 'heieon' uo"" W 'he ",,S VI eN
uhiiha'ion' Inns account Is the Yer
'h'a'o VI i'tie' anu tne o"hei uupi'
'"te Ie' t'no".e VI .'''e 'on'"'"S '"e
name oli'a''on III case VI variance
me orls'h"i cer'ihcate Always governs
III cases "neie large ''ac'S vi iahu
''e opeheu up ny reai estate operators
oianNet Ce'.'hca'e can oe taken out
'".'e Gun wiz w Sho"'i INC various io.s
a"u stIee's' men whenever d 'o' ls
S"Iu Tue opeTator Certincdte is can
'e'ieu as lar as tnat particular lot IL
70 tha n,'rah" u n oS ,S uo ,ot ''se'