The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-02-07
THE TORRENS SYSTEM
AND SOME OFeITSA RESULTS

are registered between February Is, 1901,
and Juno 15, 1901. One Of these trans
actions WINS n mortgage of $4,000 for foiir
months, another n mortgage Of $3,000 for
four months. Then one lot WIS sold;
the first mortgages were released. and
two other mortgages were made upon the
remaining lot, ono OF $4,000 for six
months. and finally one OF $500 for five
years. Who ever thinks OF making {,
loan for three or four months OH real
estate in Virginia? YOU can't do, 1t under
our present laws, on account OF delays
and costs to be encountered. But the
facts mentioned above demonstrate how
freely registered land may he used us u
source OF commercial credit under tne
,rorrens System, and prove that no p1sl-
ness man need have apprehension about
cr,nn1inr his business by buying n home
,,hnrnver the Torrens System may pre-
vail.
rur, BUSINESS OF BUSINESS MEN.
vou may wish to know, however.
r,i,o,heY tho active prosecution OF your
huaincss is affected in any other way Dy
thc land laws. DO you have 70 cfeu't
vo1,r customers? IL so you Will certainly
ho benefited by any law that WIZ en-
nbIe them to give YOU good security.
MERCHANTS suffer terribly, especially III
the country, from. the credit system.
They rarely require security pe ,c, :.
their natrony are unable to furnish u
roaatlv No man gives a deed Of trust
now unless he is hard pushed, and IL
10 usually n sign of financial weakness.
II n man pledges his stocks and bonds,
no shoulders are shrugged. no eyebrows
are lifted There are no evil squihts
aud no predictions of impending failure.
IT is regarded as an ordinary business
transaction, and cxcites no special com
ment. But let n man give u deed Oh
trust. and the dome of heaven becomes
Whispering gallery. Disastrous ru-
mors fiji the air, and often shake every
foundation OF credit until ruin stares
him in the race Nothing like this would
happen If real estate were freed from
Its shackles and released from the dun
geon dug by feudal law. When men
deal freely with their lands as they do
under the Torrens System, such trans
actions cause no surprise. and arord no
ground for reports of bankruptcy. There
fore merchants will not hesitate to ask
for security. and their customers will
not be afraid to give 1t.
NO FALSE CREDIT.
YOU frequently trust a customer ba-
cause he Is the reputed owner OF real
estate. His title may be worthless, and
neither he nor you may know 1t. Or
he may have parted with his title and
you may not know 1t; or there may be
judgments against 1t and you may not
know 1t. To find out these things yoii
would have to employ a lawyer: and even
after the lawyer had examined the re-
cords lie could not tell you certainly.
because many things that affect title are
not required to be recorded under our
present laws. All this will be different
under the Torrens System. 1t will be
simply impossible for any man to de-
ceive you, and you can for yourself tell
all about his title by examining his Ger
tificate-a thing that can be done in a
few minutes. For nothing can affect the
title except VIVA, Is registered upon the
Certificate. and you need never give cred
1t unless credit Is deserved.