The farmer and mechanic., 1913-01-07

dONertlSe Nent ana the proceeds should !
be dealt with as if arising from the |
enforcement of a deed of trust. Tn |
der these circumstances a sound arti-
Gle being sold, the property would
bring its full market value, and the
surplus proceeds of sale, after the
satisfaction of taxes and every cost
and charge, should be paid over to
the previous owner. This is equity.
and would prevent legalized robbery
Of the poor and do away with sys
tenn to which the State is now a
party. but from which she derives no
peculiar benefit.
The consequent results of our pres
ent system are:
l. Transactions in real estate are
curtailed by the uncertainty and the
insecurity of titles, by delays in trans
ferring titles, by costs of transferring
titles.
2. CSeS of real estate are leSSened.
3. Values OF real estate are lowered.
4. Unnecessary burdens are imposed
on real estate and the large body of
| the peOple-the small owner-are the
chief sufferers.
These evils may be cured by the
| adoption of the TOrrenS System Of
| Registration, which has proven a sue
cess in Australia, England, Germany,
| Denmark. Sweden, Norway. Russia
| the German CantOns of Switzerland
and in several states of the Union
illinois. California, Massachusetts,,
| Mantana, Minnesota, Oregon, Colo
rado, and has been sanctioned bby our
| Federal government by introduction in
the Philippines, Hawaii and Porto
Rico. 1t operates in the followi in 6
| way:
A title is examined once officially
and confirmed by order Of court. That
ends the matter and stops the cease
less examination Of titles as is now
the case. The State guarantees the
title, standing as an immense barrier
between the owner of the property
and all possible harm. The State is
paid a reasonable fee to cover the ex-
pense of investigation and small
premium on account of an insurance
fund or guarantee fund.
Every time transaction is now
made in real estate, new lawyer is
likely to be employed to examine an6
pass upon the title. which title, nc
doubt, may have been investigated
; and passed upon a hundred times be-
fore, each time at great expense with
attendant tedious delays, all cf which
labor, expense and delay go to waste
so far as future purchasers or future
lenders Of money are concerned. Ant
the fee Of the attorney is uncertain, a.
it is a matter Of private contract no
. regulated by law.
g Your title is registered and a per
manent improvement is made which
S will last as long as the law prevail
: and will not call for betterments 0
> repairs. You are then given a certifl
cate Of title, which guarantees to al
/ the world you have such a title as i
s set forth. You can then deal wit
this certificate OF title somewhat a
6 with certificate of stock or with
bond, because everybody can see from
d the certificate exactly what the it'll
y is. The State guarantees the wOrl
: Of its examiners. You hold an un
your property. All doubts and dan
! gers are removed. If you desire 60 Sc
y your property no further examinatio
h Of title is necessary. The certificat
S itself shows the condition of the titl'
: The purchaser practically buys you
" certificate. He carries it to the prope
y transfer Office with your deed to hin
d surrenders the certificate which
le cancelled and a new one Is properl
issued In the name OF the buye
If Should you desire to borrow money O
g your property from bank, your Gel
tificate is handled by the bank
n practically the same way as it wouI
,e certificate of stock in cotton mil
railroad company or any other CO.
% poration. except that the signature
~ ones wife and the private examin;
th ton must be had. A transactic
which should consume only few M
n ments Of time.
ne This will put your real estate on
not only so. but give opportunity +
IN adding millions Of dollars to ii
O. banking and business capital of Nor
r. Carolina Land grabbers will have
be go out Of business The State W
er. CONTINUED on Page Eighty