The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1908-09-25
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j. w WNLLAOE ANU - &. OhN -
by; a defect in the title Is discovered;
the real owner sued him for posses
sion; he goes into court is defeated
in the first trial, he sells some of his
personal property aud appeals the
case and hires additional counsel; he
loses again and goes to The supreme
court where he loses not only the per-
sonal property which he bad to spend
for attorneys fees and court COSTS, but
loses his case and his home. This Is
not overdlawn. hundreds OF occur
rences OF this kind have happened. IL
is not an exception even . the rule, Z.
At is the rule Again, under the alb
stract system nian desires TO bor-
row some money quickly to save him,
perhaps from financial ruin; he goes
to the bank, the bank is afraid of the I
title. the bank has no certain means I
OF knowing especially at the moment I
perhaps by reason of not being able (
to ge. the loan when he had landed 4
security he meets with financial ruin. I
Now. the Torrens' system Is the re- (
verse, II is not a registration of deeds [
and evidence OF title. ii is an absolute /
register OF tito. First. however, the~e
must be trial to determine the
ownership and then ali deeds are can
celled and all except loans or liens
upon the land; certificate Is issued
to the owner for the decree and after
that there is never but one outstand-
ing certificate and that certificate
shows every condition of title. Any
man as soon as he sees the certifi.
cate and it is marked "Torrens' Land
| knows that II is good Il is just rs
sound and as safe as buying govern
ment bond; in fact. the Wall Street
/ Jonrnal last spring said THAT the
| Torrehs' Land Certificate is the safest
security that could be made by law
| / have but recently a letter from the
Governor General of Ontario, in one
Of the provinces of Canada, in which
he said: "Of all the many things Of
which we are proud in this province
we are most proud Of our Torren's
Land Law" Now, suppose the hold
er of a Torrens' Certificate desired 70
borrow some money upon tract OF
100 acres Of land say $4,000 and he'd
20 to Representative Briggs bank
oyer there and say | desire to borrow
$4,000 Mr. Briggs would say, is your
land abstract land or ToTens' p If
he should reply abstract MIR. Briggs
would say / would Ike to submit that
80 my attorney first; aid perhaps at
the end of week he might get an
opinion and then refuse the loan, but
IL he said it's Torrens' he would say
let me see the certificate. The mo-
ment he looked upon the certificate
he knew every condition OF the title
without a single cent OF expense. Now,
the only thing he would want to know
would be the kind OF land or about
what the land was worth. II he knew
OF the land he would be ready then,
as he would ever be, 10 make the loan
because he would know the whole
power Of the state was behind that
property to protect the title. Now
guppose he would loan the $4,000,
the owner would have that certificate
cancelled on the clerks records ana a
new one issued to the owner, whom
We will suppose 10 be Representative
Rainey here, on the face OF that y
nficate issued to Ralney would ne
, this statement. &c. w. Briggs holds
first hen for the sum OF $4,000 on
|, this tract of land Then if MI
q Rainey would show that certificate 81
{ anyone II could be seen easily wh&l
1.-the condition Of the title Is, that Is "
I say. that the title in fee belonged "
In. N. Rainey, OF Atoka. but that q
} w. Briggs of Granite, holds mrs.
: lien of $4,000 Now suppose NJ
| ! Rainey al a later date would desire
TO borrow 800 90 and he should so e
Representatlve Robert Johnson's banl
= An The town Of Chickasha Mr. John
son would ask what kind OF land is II
abstract or "Torrensg' Mr. Raine'
would answer It is 'Torrens' Ihei
he would ask to see the certificate
When Johnson looked at the certificate
he would know the condition OF The
title and the only question that hi
would want 10 know is whether or no
the land would stand one more hua
dred dollars II he knew, from travel
ing over the land or from his person
/ al knowledge previously gained, il q
be valuable land he would be as read
II then as he ever would be 10 loan OF
that piece of land. Should he max
II
The loan thar certificate would be can
celled and a new one issued showini
that land belonged TO x. NJ, Rainey
that the first Hen WAS held by G. W
Briggs for $4,000. and that a seconI
lien was held by Robert II. johnson
II for $4,000 Now as Mr. Rainsy pail
II of that lien the same process OF cau
III ceiling the certificate and the issc
ance OF new ones eliminating the pas
nents until an had been paid and p
4 Hens existing, there would 19t w pqn
I morlgaees fiied, bqf ~ lens wonl
show themselves on the face o} ~
1 certificate The transfers made wopl
cost the ordinary fee Of ~ cents .
HSia0. OF getting certificates OF an
II matter or copies Of ordinary celti,
| Gates OF any matter OF record y
II Just simple, and indeed works on N
.I.4ra ~