Torrens Land Title Registration
61
policies of insurance thereon, and said,
Torrens System the title is established
in part, as follows '.—
forever, and subsequent transfers are
The method which is used in New York and most of the states in this country grows more cumbersome as it becomes older, and, in spite of efiorts to make it less burdensome, is tending to break down of its own weight. The multiplication of records and complica non of titles and the repeated expense of reexamination and the delays incidental thereto, should be avoided, if any feasible method of doing so can be devised. We are very clearly of the opinion that a system of registering titles may be put into operation in this state in such manner as to avoid these and other dificulties incidental to the present System and to become of much utility and advantage to conveyanoers and owners of real property.
Accordingly, the commission recom
mended the Torrens System of Land Title Registration and drafted a pro posed act, which was passed by the legislature in May, 1908, known as Chapter 444 of the Laws of 1908, other wise known as the "Land Title Registra tion Law," which, however, did not
go into effect until the first day of February, 1909. It was then found that the presence of certain "jokers”
inserted in the bill at the instance of
made simply by execution and delivery of deed, and at the same time surrender ing to the Registrar of the county in
which the property is located the duplicate certificate of title originally issued to the owner by the State, and paying to the Registrar a nominal fee, upon which he issues a new certificate to the new owner, without further expense. Under the old system of title insurance the title must be searched over and over again every time the property is transferred or mortgaged, and the owner or mortgagor is obliged
to pay at least one-half of the original premium for a new policy of title insurance. Under the Torrens System the statutory fees and disbursements are small and the title obtained is backed by the guaranty of the state and free from the slightest doubt, thus demon strating the advantage of this system as compared with the complicated and costly system of searching and insuring
titles formerly in vogue. It has been wittily said that a title
to make the act uncertain and inopera
insurance company is like the little girl's definition of a falsehood, namely, “An abomination unto the Lord, but
tive. A new bill was prepared contain ing the desired amendments, and this
an ever present help in time of trouble.” I think this is quite accurate, provided
the old title insurance companies tended
amendatory act was fiercely opposed
the latter portion of the definition is
by the representatives of the old title insurance companies, but was finally
omitted. Let us see how this works out in practice.
passed by the legislature and signed by
The general public are under a wrong
Governor Hughes and became Chapter
impression with regard to the so-called “policies of title insurance” issued by
627 of the Laws of 1910. So that in Article XII of the Real Property Law,
the old title companies.
They regard
as amended, we now have a perfected method of registering titles under the sanction and protection of the state. Particular attention should be called
or fire insurance which indemnify the insured against all loss sufiered. A
to the fact that only one search of the
policy will demonstrate that it contains
title is necessary. After the property has been once transferred under the
many exceptions and special provisions which nullify its value. For example.
them in the same light as policies of life
perusal of the ordinary title insurance
