The state herald., 1903-07-24
TORRENS SYSTEM ENACTED in
COLORADO LAND TITLE LAW

every Inscription sHai pc eiloiccu'
| continued. reduced, dlscnargeua ana uis-
solved by any proceeding or method
sufficient and proper In law to enforce
continue, reduce, discharge or ulssolVe
like liens ON unregistered iand.
rms system simpiliies 'he nhe,hou Oh
dealing III registered iahu peioheiiS
to estates, ana makes sucn ,rahsac
tons much safer, less expensive ana
more expeditions thah uhuer the pres
ent system; ana II Is SAFE 10 Preuict
that 1t VIII not be many years Denore
many OF the states VIII AGAIN ioiow
the lend OF lliihols ana con'pel 'he
registration OF al ianu pe'onSns ~
estates In that way practicaii! III,
real estate VIII become resstereu
WITHIN one generation OF III noout
u" nv sc"is ".'' '"'
oi such proN'sion' A. ,r,,
ihe c"u'ivii VIZ" VIM" wy 49,,
under 1t is perhaps nowhere more
marked OF petter Illustrated tn"h III
the provision ior an ''iueii''''' VI
surahce iuhu.
Recognizing the fallibilitE of all hu-
man efforts, and acting upon the know
| ledge that in the administration of all
laws some error will be found and
some injustice done, provision has
been made for the correction of any
mistakes by recourse upon this fund.
The fund is created by the payment,
at the time of original registration,
and again when the real estate passes
by descent or devise, OF small Zee;
In our law and most OF the other
states, this payment Is one-tenth OF
one per cent. of the assessed value OF
the property on the basis of the last
assessment for general taxation. Inc
money is paid to the Registrar, ana ny
him immediately paid over 10 the
county treasurer, who Is required to
invest II In Colorado state, county or
municipal bonds, subject to the APP
proval of the court.
II loss occurs, or some one through
mistake Is deprived of his property,
recourse may be had on this fund ana
the loss made good.
1t is most remarkable fact. that
throughout the United States and Eng
and no losses have thus far been sus-
tanned, Notwithstanding many billions
of dollars worth of property have al
ready been brought under the opera
tion of this law.
Inc expense Of registering a title
and securing certificate of owner
ship is within the reach of every real
estate owner, and is but little more
tnan the cost of an ordinary transfer.
where an abstract is provided, an at
torneys opinion obtained and few
naws In the title patcned up. For cN-
ample: ON property, the assessed value
of which is one thousand dollars, the
expenses of registration would be
about as follows:
Cost of abstract about. ......S 100
District Cour, clerks fee lin
counties of 10000 ............ 900
Registrars fee, filing application
(ouc-half TO county. 100
Publishing summons (abouu.... 500
Examiners Zee about. ........ 1900
Assurance fund tO1 OF per cent
81 600 Observation-Disclosures. 100
Registrars fee dssulng ccrtih-
catel 200
sagOO
Where the assessed valuation OF the
nronerty exceeds one thousnnd dollars
one dollar shouId he added Ia The
above sum for each additional one
thousand dollars as an assurance
fund. and twonty.tiye cents upon encb
additional thousand dollars OF the as
sessed value of the property. exclu.
siy. 81 In,nrovom.nts shn,,IJ IA. added
as tho Registrars additional filing fec
ope.h1lf OF which GOES in The county
In other words The assessed value az
IN. pronertv IL taken as tho hnsis for
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