The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1910-08-03
The TOrrens System-What Is lit.

EVluence or a renewed interst in
the Torrens system of land tenures In
South Carolina may make interesting
some description of its leading prin-
ciples. 1t was devised by Sir Robert
Torrens. and first put into operation
in Australia, where so many modern
political and legislative reforms have
had their beginnings. The system
abolishes most or all distinctions be-
tween real estate and personal prop
erty, and is chief object is to remove
the difficulties, delays, and expenses
incident to the transfer of real es-
tate under the old English system de-
veloped out Of the feudal tenures.
In Australia there is a registrars
Office with whom the owner Of a tract
of land, held by the old tenure, de-
posits a description of his property
ana obtains a certificate of owner
snip. The registrars office examines
the title carefully and the certificate
guarantees its legality, whether as
absolute or with conditions attached.
Ii the title wre to a life estate. the
certificate would so state. Each an
plicant for certificate pays a small
fee out Of which an insurance fund
is created. From this fund the State
protects itself when a title guaran-
teed by the registrar is attacked and
the State is called upon to indemnify
hte holder Of the certificate.
After the land owner has excbanp-
ed his muniments Of title under the
older system and received a certifi-
cate from the registrars office he
may transfer the certificate by in
drosement as he would a share in q
bank or cotton mill. OF course, he
may pledge the certificate for money
borrowed, as he would a personal Sc
curity. Registration in the registrars
office with each transfer of the certi-
ficate 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 guar
antees the title described In the certi-
ficate. and the expense and delay OF
foreclosure proceedings are removed.
because the certificate may be dis
posed Of precisely as may a certificate
of shares in corporation. The sys-
temg ith notifications, has been
adopted in Illinois, Massachusetts,,
Minnesota and possibly other States.
and also in New Zealand and several
Of the Canadian province.
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 delays
in foreclosure proceedings, is reluc-
tant to lend more than half Of 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 in
terest charges are in effect materially
increased.
One argument against the plan, a.
though based on the weakness Of hu-
man nature. is not without force. 1t
may be said that the very difficulties
of disposing Of land work to keep it
in the possession sometimes of men
who would lose it if they could sell, +
las easily as they can sell ah orse or
hog. The manifest answer to this
is that the removal of the obstacles t.
he selling of land would make it more
valuable. Lawyers and courts fees.
under the present system, are a savy
tax subtracting from the value Of the
land itself. There fore, as the Ind is
made more valuable, the incentive to
hold it grows stronger. eBsides, ,he
progress of society ought not to be
delayed for the sake of the improv1-
dent man. who can not take care of
himself.-Columbia State.