The times and democrat. [volume] (Orangeburg, S.C.) 1881-current, 1910-08-04
TORREh'S SYSTEM
WHICH HAS BEEN ENDORSED RY
THE FARMERS UNION.
t simplifles tie Transfer of Land


1t Simplifles the Transfer of Land
from One Owner to Another and
Lessons the Cost.
The State Farmers Union at its
late meeting in Columbia gave the
Torrens system Of land. tenures its
endorsement and will ask the legis-
,, lature to adopt it at its next session.
The following synopsis Of the law,
which we take from the State, will
give our readers a good idea of what
the system Is and how it would
work:
The Torrens system was devised
by Sir Robert Torrens, and first put
into operation in Australia, where
Sc many modern political and legis-
lative reforms have had their be-
ginnTngs. The system abolishes
most or all distinctions between real
estate and personal property, and its
chief object is to remove the ditll-
culties, delays, and expenses incl
dent. to the transfer of real estate
under, the old English system de-
veloped our of the feudal tenures.
In Australia there is registrar 8
office with whom the owner of a
tract of land, held by the old ten
ure, deposits a description Of his
property and obtains certificate OF
ownership. The registrars office ex-
amines the title carefully and the
certificate guarantees its legality,
whether as absolute or with condi-
tions attached. If the title were to
life estate, the certificate would
so state. Each applicant for GER
tihcate pays small fee out Of which
an insurance fund is created. From
this fund the State protects itself
when a title guaranteed by the reg
istrar is attacked and the State is
called upon to idemnify the holder
of the certificate.
=. After the land owner has exchang-
ed his muniments of title under the
older system and received certlfl-
cate from the registrars Office, he
may transfer the certificate by en-
dorsement as he would a share in
a bank or cotton mill. OF course,
he may pledge the certificate for
money borrowed as he would a per-
sonal security. Registration in the
registrars Office with each transfer
of the certificate is required, for
which small fee, is charged. The
necessity for the examination OF tit
les, it will be seen is eliminated, be-
cause the State guarantees the title
described in the certificate, and the
expense and delay of foreclosure pro-
ceedings are removed, because the
certificate may be disposed Of pre-
cisely as may a certificate OF shares
in a corporation. The system, with
modification, has been adopted in
Illinois, Massachusetts, Minnesota
and possibly other state and also IN
New Zealand and several of the Ca
madam provirc ccs. The argument in
favor Of the system is obvious. Ev-
cry borrowing farmer is familiar
with the expense and difficulty at
tached to using his land as security
in a bank. A bank, on account of
the expense and delaps in foreclosure
proceedings, is reluctant to lend
more than half or three-fourths OF
the value on a, small body of real
estate; and when a borrower has
paid the cost of examining the title
and drawing all papers, his interest
charges are in effect materially in
creased.
One argument against the plan
although based on the weakness of
human nature; is not without force.
It may be said that he very Difficult
ties of disposig of land, work to keep
| if in possession sometimes Of men
| who would lose it If they could sell
| it as easily as they sell horse or a
hog. The manifest answer to this
is that the removal of the obstacles
to the selling of land would make 1t
more valuable. Lawyers and courts
fees under the present system are a
heavy tax subtra citing from the vai-
| ue Of the land itself. There fore as
the land is made more valuable the
incentive to hold it grows stronger.
Besides, the progress Of society
ought not to be delayed for the sake
| of the improvident man who can
not take care OF himself.
MAKE RIG CORN CROP.