Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1913-06-06
you know that you have the assur-
onoa of the state behind It,

ance of the state behind 1t.
To return to our subject, under the
old system, this examination Of title
is generally always required whenever
there Is a conveyance either to lender
or purchaser. II man uses his land
to borrow money, this expense at,
taches ever ytime loan is made. Z.
The cost therefore, in the beginning
under the Torrens system Is all the
cost and as near as can be approx
mated Is as follows: The examiner OF
titles, S., (and where land is valued
for more than $4,000. 80 cents for each
additional thousand); the register of
deeds will get not over 81; the indem-
nifty fund, one-tenth OF one per cent Of
the assessed value Of the land for
taxes to be paid to the state treasur-
er to be held by him-a tract Of land
assessed at $1,000 would pay S.. The
publication In a newspaper will cost
$3.50. The clerk and sheriff receive
such fees as are now allowed by law
in other special proceedings; the clerk
would average in case not contested
about $5, and the sheriff is not more
than FIVE land owners adjoined would
get SO. grIa 4.
Not taking into consideration the
cost Of survey or attorney fees for
preparing the petition and DEGREES and
all papers Of the proceeding, the mini
mum costs ought not be over $26 for a
tract of land assessed at $4,000 or less.
| AS to the surveyors charges, these
depend upon the locality, the certain
,ty Of the lines, the time the survey
takes. AS to attorney fees, It Is hoped
that the profession will make reason
able charges, In order that q meritori-
Gus system may have fair trial. :, 4
II your title Is contested and litiga-
tion follows, then It Is like any other
lawsuit; It can be made to cost large
amount dependent upon the length OF
time the matter is In court, the num-
ber of witnesses, lawyers employed
and other conditions.
dTliCio PiCPoiCo AOs " S-'S>
mate what lawsuit will cost. Every
one who has had one knows that they
are always expensive. This is true,
however, that II the investigation un-
der this system develops lawsuit one
would have resulted any way sooner
or later. ,Fr. ...p.l gt rs,ts|
The indemnity fund is held by the
treasurer Of the state and invested In
order that any person who without
negligence on his part sustains loss or
damage or is deprived Of his land or
any estate or interest therein, through
fraud or negligence, or In consequence
of any error, omission, mistake. mis-
feasance, or misdescription, bring ac-
ton against the state treasurer for the
fair market value Of the land at the
time of the loss or damage. This ac-
ton must be brought within three years
from the time the cause Of action ac-
crued. In case of infants, or others
under disability. within one year after
the removal of the disability. This ac-
tion is defended by the state. treasurer
who is authorized to employ counsel.
The idea of the indemnity fund is to
provide a remedy In value for one VINO
claims to have lost his rights In land,
but he has no claim against the land
itself. It has been endeavored in this
way to safeguard every interest.
The law as passed may not be per-
feet; If not, succeeding legislatures;
may correct It's mistakes and make 1t
more practical. 1t Is believed by
thoughtful men that when used II Will
be of great advantage to the agricul-
tural interests inmaking conveyances
easy and less complicated. 1t is volun-
tary. No man need assure his titles
unless he wants to do so. The great
advantage according to the writer's
opinion Is that a good title Is forever
assured under its provisions.-Pro-
pressiye Farmer.