The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-09-06

NS;8ssss5ss55s - Z
assure the people q virginia that the n,
land aws Viii be rcmcdicds.nnd removed
by the adoption Of what istknown:h$ tha
Torrens systems Of land registration anu
The gist Of the mnttcris the registration
OF TILES and the Torrens system ls sim
ply a system for the regstration Of titles
BY Go sood
county OF Cork IN 1914, who, With the
genius of his race. has laid the world un !,
ger another mo oblgatIion 70 the Il, ern he
graves OF martyrs to. the cause Of liberty
and progress Sir Robert served for years
az collector OF Customs at Adelaide. me
great port Of South Australia; and becom-
Ing familiar with the operation OF the
British merchant shipping act Of 1871, ne
began to wonder WHIP the title ;toI lanes ,iis
title TO a cargo OF treasure. The more he
thought upon the subject the simpler It
seemed, and he finally succeeded In having
trnlla in 1858. This law became known AZ
the Torrens system, and has eyer since
borne the name OF Its honored author.
to render the title TO land transferable
with certainty, eelerity. ease and cheap
ness. n order to do this the title is first
5judclally ascertained and registered. This
wipes the slate clean Of all past transac.
tons. No other examination Of Title Wlll
ever be necessary, because TIE registration n
OF titles IS final nd conclusive against all
the world: and after such registration you
deal at every turn with the title itself:
and absolute title is transferred by every
act OF subsequent registration on pour
certinca tie Of title, Just as title to- a regis
tered stock or bond Is now transferred at
the registration office 81. any corporation
upon receipt OF the certificate OF stock or
OF the bond to be transferred with power
Of attorney authorizing the transfer.
Deeds aretnot abolished. but must be duly
e
of dover and courtesy are not interferred
with. nor. are any other changes made In.
existing laws except such as are neces-
principal Of the registration of title and
the subsequent transfers Of titles by acts
OF registration. The radical distinction
between the old and the new law Is thls:'
The old law deals simply with evidences
Of title and only permits n record OF these
evidences. It does not even require all the
evidences Of title to be recorded. .&l
With the Title Itself.
The new law deals wholly With the
tItie Itself and permits nothing to affect
time TO time on the certificate Of title.
Under the old law evidences of title are
scattered through. the lan nd books. decd
eS re w dso9k b aoekas fnd
has elapsed from the original grant down
10 the last transaction; and these books
and records may themselves be scattered
pletelyl preserved: they may also be sub.
1cct 10 imperfectons and omissions. DO h.
ir the body Of their contents and inathe
every time you wish to deal with your
real estate a lawyer is required to exam
inc all these old records and tell you
how your title stands: BIT under the
put down or registered on the certificate
of title. There 1t Is right before your
eyes, II In nutshell. SO plain and sim,
p po law is ever needed toy to tell You
how your title stands. Would you like
to know what this will mean in dollars
and cents to the people OF virglina?
with all the clerks In the State and have
received reports from IS counties and
cities These reports show that In 1904
Of trust were recorded In thet7S counties
from which have heard. and $685. In
the 6 cities. Following out this ratio.
E.soo deeds and and the is cities would show
1912 deeds Each one OF these deeds,
representing either sale of or loan upon
lands. presents case requiring an ex-
examina ton at the lowest hgure-say. IS
in the country and $40 IN the cities, which
will certainly be a fair average of the
COST Oh dll tUe -cHtUllkld GFGl Ill.
loving for cases in which there may
have been no examination simple
multiplication discloses a charge # sgd
900 upon the counties and of $l9l $50 .lpo-
a total charge OF s421, $50 In other words,
the one item of the examination of titles
to,l>al estate, leaving out oflvlewi nllatho
the enormous sum OF 421,s26 \ Think. OF
it, citizens Of Virginia nearly much
o Spe q ne ana ors
than half OF what was spent for public
education In every, city and county in +
tered ter i under the Torsens S system, That
snug. sum would have been saved to the
people.
my figures are not accurate; ! am cons
tending for a principal that would not
or even quartered--a great prln clpla. of /
Tx tha at' real estate must be put onsa eyel7
with personally and DO given }lits,2true
value In all the varied uses OF which
y eapn6h19 Garry ha1
milton In the halls of legislation. in the 7
courts OF Justice and wherever IL free Z
man walks and breathes! i iG.98s
Not for Short Loans,
AS our laws now stand, land Is not avail
able either for short loans or small so oan 81
days on real estate? Yet these are the
loans usually desired by BUSINESS men.
But. on account Of delays and costs OF
for less than a year or real estate, aud
the ordinary, period Is from 3. to s years
Who eyer hears of q. loan OF $96, $50, or,
loans usually desired by the! masses conl-.
posing the bone and slnew,. OF our. country,
But again, on. account Of the costs OF ex-
a loan for less than $500 on real estate.
Indeed, no man can AFFORD to secure either
a short loan or small loan on real es-
are therefore shorn Of their value to bust
ness men as well as to the vast majority
Of those humble citizens who should ba
Rearken to the roll call Of those that
have found tho old land laws unsnlted to
modern conditions and turned to the Tor
comes from three continents and from
the isles or two oceans; { Australia. Tas-