Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1913-04-22
THE ToRRENs SYSTEM
I've Adoption Would Greatly Simplify
Land Transac actions,

iss Adoption Would Greatly Simplify
Land Transactions.
The question Of adopting the Tor
rens system Of registering land titles
has been agitated to a greater or less
extent In this state for several years
past and the general assembly has gone
far enough to appoint commissioners
to make Investigations. Judge Jones
made advocacy Of the idea one Of the
planks of his platform last summer,
and Governor Blease had nothing to
urge against the proposition; but
seemed inclined to favor II. But the
influence of the elements that fatten
of the present cumbersome system was
against simpliflcation, and nothing has
been done. In q recent issue the Flor
Ida Times Union discusses the subject
as follows: ,i
There should be no better security
for money loaned than real estate, II
the holders title Is good. It should
rank with stocks and bonds as basis
for loan. One chief reason why 1t
does not, Is that before IL can be ac-
cepted as a security the holders title
must be proved to be good. This re-
quires q search Of the records at an
expense of time and money before the
lender can safely accept 1t as security.
mot only the owner Of city lot, or
lots, but the farmer as well should de-
mand the Torrens system Of register
ing land titles. II the present rather
chaotic system Of requiring an examin-
alton Of title in every case Of transfer
Of property or of mortgaging 1t con-
tinues, the time may come when the
length Of an abstract Of title will be
something formidable and the cost Of
a search Of the records will spell bank
ruptcy for the unfortunate owner Of
real estate.
Suppose the title of every piece Of
land in Florida were judicially assured
to the proper owner by the state, once
and for all, simple certificates Of title
taking the place Of the warranty deed.
II the state Of Florida, after careful
examination by competent lawyers, re-
corded the ascertained ownership OF
every piece Of land within its borders.
large or small, there would be an end
of this ceaseless examination Of titles,
Of which a we'll known lawyer says:
"As matters now stand, every time a
piece Of land Is sold or mortgaged a
lawyer has to go over the same ground
that was gone over the last time the
land was sold or mortgaged. And ev-
cry lawyer so doing gets his fee. was
looking up a title last week. traced
the title back to 1880. I had to read
some twenty deeds and examine about
forty mortgages; investigate judgments
against six individuals; look into the
settlement of two estates, and see that
the taxes had been paid for twenty
years. A year ago this same land was
mortgaged Some attorney did then
just what did last week. The year be-
fore the land was purchased. Some
lawyer then went over the same ground
that did last week and the other law
yer did last year. The year before that,
this land was purchased by another
man. Again a lawyer had to go over
the same ground. suppose investiga-
tions of the title to this lot had cost all
told about 5000 and twenty days time.
The tax valuation OF the lot was less
than $1,000. In other words, probably
one fifth Of the tax value OF the land
had been spent in title investigations.
Here Is a great waste Of both time
and money. If bonds and other COM
mercial securities had to go through
the same process every time they were
transferred or hypothecated, with the
same attendant delay, the operations
of commercial business would be irk-
somely hampered. Land values are
more stable than those Of bonds and
stocks, yet 1t Is more difficult to make
them the bases Of financial operations.
1.-The Torrens system works well In
Illinois, Massachusetts and three or
four other states In which It has had a
fair trial, It has recently been adopted
in North Carolina, and will doubtless
be the law, in time, in all the other
states" --....tr -4gss-,