Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-02-25
EXPLAINS HOW TORRENs
BILL AIDS FARMERS
;. IL. Child Gives Experience OF Min.
nesota With Land Regis
tratiOn System.
CUTS OUT TRANSFER FEES
Makes Certificate OF Ownership Avail.
able as Collateral at Bank for I'm.
mediate Loan Without Tedious Re-
Examination OF Title.

Examination OF Title.
The workings Of tho rorrcns Land
l'ill. which was on yesterday signed
by Governor Stuart, were fully explain
cd last night by s. X. Child chairman
OF the Committee on Adoption OF APP
proved Acts OF the National Conference
OF commissioners on Uniform Laws, of
minneapolis, who is tho guest o..
colonel T.. G. Massic. Of i12 East Grace
street
Colonel Massic is chairman OF the
executive committee Of the commission.
MIR. Child was some what cnthusi-
astic regarding the passage OF the
Torrcns Land Bill, and since he came
from a state wherein tho law has been
given a fair trial. his comments upon
IA" subject arc pertinent
There is no doubt but that the Tor
rcns Land Law has worked well in
Minnesota, according TO the data which
was furnished by Mr.. Child. The aver
age farmer i'm that state. while he can.
not borrow money much cheaper. can
borrow II far more readily. The GER
ttficatc given by the court is the same
AS warehouse certificate.
ONE EXAMINATION
ENDS ALL LITIGATION
Possibly the most interesting point
Of tho whole scheme is the fact that
once the land is examined and given "a
Noh ana examination. One deed Is
made and filed with tho registrar and a
duplicate certificate issued to the land
hoid.r Whether he desires 20 borrow
or sell. the certificate which he has
is taken at it's face value and If the
registrar informs the lender or pur-
chaser that there arc no notatious
against the certificate he is certain that
he has a clean deed from tho state.
MT enid cited the case of Maine. the
only ono OF the New England States
mat mas not adopted the uniform com q.
mcrcial state laws. In Maine the aver
age interest paid on farm loans Is
- per cent. while for the res. OF the
Now England States the average rate
IS 90 per cent. more than per cen,
Inference. He further pointed out the
great interest rate which The Southern
states have had 10 pay on cotton crops
nhrinS the past year. and showed that
they have no, adopted tho commercial
state laws.
Mr.. Child was certain tLat i'm o-de,
10 develop a rural crcdi, system in
ih's country. like that OF Europe. where
none rs secured at perhaps half tho
fa'c. II is necessary that SOM. form
"' standard land registration must he
adopted This. he believed. will require
UNIFORM iand registration ana uniform
stat" laws. or nearly so ONLY twelve
states have adopted the Torrcns svs
."'' "i l"nd registration. not exactly
nc same: but close enough to answer
All practical requirements
AMPLE NOTICE - GIVEN
=. no ALL CLAIMA NTS
ne lorr.ns system was thoroughly
'NDia'neh by Mr. Child and rnIor.,
MasSi" The farmer who wishes for
'i' tiIn" 30 settle the tillc Of his Iva
makes application Tor a ccr,inc,t. RI
,'ir ~ examined and all Other data re.
I.hrdl0S the land is .arefull, ,onknd -,
NV IN" examiner Th.. cSarir.r ~
80 10 inc court giving IN. ,.cord.
''''s as II" has found th.n.
nc" 'h"re is required :, publication
"hr" each week for four w.ot. az ~
.nt"ni TO secure a certificate ,H
~ on tho land IN question a. -
't'"lh 81 may E, Interested ar. ,.rra,
Win notice personally by tho sheriff
"cH ar" given fifteen days TO make nm
,n",' answer II any they have. and
men TO appear before tho court D.
N'ded there is no litigation. or ev.n :.
mere be litigation, when Tho ,i,Ie s
'Iha!IN agreed upon and decided bv rho
court certificate is issued. and hack
"f inns certificate the world" accord.
'hS 10 the bill cannot 20
me title is settled for all time 7.
thr land he sold, no further ex,-n;,a
lol OF title is needed The state has
h%cd The title TO remain for all ,imn
hsihg therefore fixed the certisc,ta
represents definite article OF com
herce ana as such is negotiable IN
bank 81
This enables the farmer. accordin,
I" MI. Child, 10 secure money M less
rate than formerly. or II NOT M lose
rate az much easier effort and loss
expense He was unwilling to say
'."' hc interest paid was less: bu,
stated that the real borrowing no,yo,
OF The land was greater bocausn nc
examination Of title is required and
II" fling Of deeds. y Torrous land
certificate is never re-examin-d he
said. "
GIVES TITLE BACKED
ny POWER OF STATE
INC act is not compulsory: but II
one desires a title that is backed nv
the state, rather than by the iudi-
Nidu3i disposcr Of the land ne NAV Sc.
cure such title at the cost Of one sur.
N"y and examination of title. and set.
tic the matter forever.
According to Colonc! Massie. moro
than one-fourth Of Virginia is under
tho act as signed on Yesterday by Gov.
crnor Stuart, and il is undcrst God tina,
more counties will ask to he let in
under the bill before the present Gen.
oral Assembly adjourns.
In Minnesota, according to Mr.. Child
the system is working well and while
money is not secured much cheaper
considerable amount OF money is
saved TO the farmer by the omission
OF re- examination of titles. The ccleri-
~ with which the money is secured is
VOL worth the difference. The trans
fer of property is made with practi.
cally no cost. as there is nothing tc
do but present the certificate to the
purchaser of the land The deed Is
perpetually on file with the registrar
and only the certificate changes hands
The purchaser knows that his title
is good. because it is backed by the
state.
Mr.. Child, who is visiting the variou.
states where the Legislatures are iI
session, is thoroughly convcrsant will
many OF tho other proposed uniform
States laws. such rs the divorce laws
pure food, marriage, child labor, bills
OF lading and many others; bu; mas
much as the TOrrens bill had Just beer
signed. he was asked with special ref