Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1916-01-27

lIlef SO states 10 the court, anu I'M
case OF contest, the rights of the
contestants are determined by the
court and the clerk of the court in
directed to draw a decree In ac-
cordance with the findings. The
clerk Of courts then sends certi-
fled copy of this decree to the
office of the degistrar of titles.
Therenpon is issued from that Of
flee the first certificate of title.
The original certificate is kept on
file in this office and the dupli-
cate certificate il issued to the
owner.
The Assurance Fund.
A fee of $2.00 il charged for the
issuance of this certificate to.
gether with a fee Of 1.l0 Of / per
cent on the assessed valuation Of
the real estate. This latter fee Is
set aside for the assurance fund.
This Assurance fund is established
for the purpose Of reimbursing
anyone, who through some mis-
take of the title examiner or from
some error in the proceedings,
has been cut out of his rights to
and interest in the property in
volved. In this connection 1t Ia
interesting to note that i'm the
state of Minnesota, no claim has
ever been made upon this Assur-
ance fund.
In all, including the advertise
ment, the fees on an average,
amount to about $14.50. This OF
course, is the minimum charge.
The charges increase at the rate
of $100 per $1,000 on the assessed
valuation of the land.
| When the decree In received at
the office of the registrar of
titles. that officer issues the first
duplicate certificate Of title to
the applicant. If the land should
be registered subject to anv mort
gages or liens of any kind, the
same are noted upon the certi-
ficate, so that this certificate In
itself will be complete record of
| the title.
| At the time of the delivery of
any certificate to the owner Of
the property, the registrar OF
titles takes receipt for the same,
which is preserved in his office
permanently.
Simplicity Of Transfers.
| When the time comes that the
original owner sells this property
(the same procedure in followed in
all subsequent transactions) he
makes out a deed in the usual
manner and the buyer goes to the
office Of the registrar of titles
| with this deed and the owner 4
duplicate certificate. The regis
trar Of titles takes up and can
GELS this certificate and issues a
new certificate to the grantee in
the deed, providing the signature
in the deed corresponds to that In
the receipt which has been given
to the registrar by the former
owner. In Hennepin county a
card system for receipts has been
established which has been found
to be very convenient, as each re
ceipt is numbered to correspond
to the number of the certificate.
This receipt gives added protec-
ton to each title holder, as the
Isignature in a deed presented is
compared with the receipt on file
| in the office. If they do not cor
respond, this fact Immediately
warns the official that something
is wrong and an investigation ii
made before new transfer will
be made.
| After issuance Of the first Ger.
tifieate and the delivery of the
same, the owner has in his posses.
| sion, and there is also on file in q
single instrument, final and con.
elusive evidence Of his title to the
property, with no necessity of fur.
ther recourse TO abstracts or title
examination. Anyone can learn
the true condition Of the title OF
the property at any time by going
to the office of the registrar OF
titles and examining the certifi.
cate there on file.
| Should the owner at any time
wish to place a mortgage on his
property, all that is necessary is
to take the mortgage together
| with the owner 's certificate and
the same is filed at an expense of
| S1.OO, and the proper notations
are made upon the certificate.
ISl.00 is charged for the filing of
Iany instrument that creates a
memorial. The mortgage can be
lassiRned or satisfied without pro-
Idncing the owners d certificate, as
can also lien or lis pendens, but
L L. .,..x.a