Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1910-08-17
THREE LIVE SUBJECTS.
Editorial Discussion by Newspaper
ut State Capital.
(From the Columbia StateD


The ToTcns Systcm-What 1t Is.
Evidence Of a renewed interest in
the Torrens system of land tenures
in South Carolina may make inter-
esting some description Of its lead
ing principles. 1t was devised BY
Sir Robert Torrens, and first put into
operation in Australia. whore SO
many modern political and legisla-
tive reforms have had their begin
niHgs. The system abolishes most
tate and personal property, and its
chief object is to remove the difficult
ties, delays and expenses incident to
The transfer of real estate under the
the feudal tenures.
In Australia there is q registrars
Office with whom the owner Of a
tract Of land, held by the CID tenure,
deposits a description Of his prop
erty and obtains certificate Of
ownership. The registrars Office
examines the title carefully and the
certificate guarantees its legality,
whether as absolute or with condi-
tions attached. If the title were to
Il life estate, the certificate would so
state. Each applicant for a certiti-
cate pays small fee out of which
an insurance fund is created From
this fund the State protects itself
when title guaranteed by the regis
trar is attacked and the State is
called upon to indemnify the holder
of the certificate.
After the land owner has eXchang-
ed his muniments of title under the
older system, and received a certifi-
cate from the registrars office, he
may transfer the certificate by en-
dorsement as he would share in a
bank or cotton mill. or course, he
may pledge the certificate for money
borrowed, as he would personal
security. Registration in the regis
trar's office with each transfer Of the
certificate is required, for which a
small fee is charged. The necessity
for the examination Of titles. it will
be seen, is eliminated, because the
State guarantees the title described
in the certificate, and the expense
and delay OF foreclosure proceedings
are removed, because the certificate
may be disposed of precisely as may
Il certificate of shares in corpora
tion. The system, with modiiica-
tions, has been adopted in Illinois,
Massachusetts, Minnesota and posi-
bly, other States, and also in New
Zealand and several OF the Canadian
provinces.
The argument in favor Of the sys-
tenn is obvious. Every borrowing
farmer is familiar with the expense
and difficulty attached to using his
land as security in a bank. A bank
on account of the expense and de-
lays in foreclosure proceedings, is re-
three-fourths Of the value on a small
body OF real estate; and, when a Dor
rover has paid the cost Of examining
the title and drawing all papers, his
interest charges are in effect mate
rally increased.
One argument against the plan,
although hased on the weakness OF
human nature, is not without force.
1t may be said that the very diff
culties Of disposing of land work to
keep it in the possession sometimes
of men who would lose it If they
could sell 1t as easily as they can
sell horse or a hog. The manifest
answer to this is that the removal of
the obstacles to the selling Of land
would make it more valuable. Law
yers' and courts fees, under the pres
enl system, are a heavy tax, subtract
ing from the value Of the land itself.
Therefore, as the land is made more
valuable, the incentive to hold It
grows stronger. Besides, the pro-
Eress Of society ought not to be de-
layed for the sake Of the improvident
man who cannot take care OF himself