FRIDAY, NOVEMBER 4, 1870.

Dunstan Times, Issue 446, 4 November 1870, Page 2

FRIDAY, NOVEMBER 4, 1870.

One of the most useful measures that ever emanated from the General Assembly was the “ Land Transfer Act, 1870,” passed during the last Session. A cheap and expeditious means of transferring land has long been wanting in New Zealand. This has been more particularly felt in goldfields townships, where hundreds would have oeeome the possessors of town allotments could theyhave been transferred at a reason aide cost The expenses hitherto of conveying land from one person to another has oftentimes exceeded its first cost, and has prevented persons from buying and selling, at the same time putting an end to •speculation most effectually as property could not pass from one person to another, without being so highly increased in value by means of certain legal expenses consequent upon the transaction as to reach a sum far in excess of its intrinsic worth, consequently no purchasers presented themselves unless they were badly in want of the article. There can be no do’’bt but that, whore land passes Loiu one owner to another, the greatest care should be taken, and much difficulty exists ' where the title is complicated; but, happily for us, little land has passed beyond a second or a third party, and of encumbered estates there are hut few. The new

Act deals with both cases. By the fifth clause of the Act, it is competent for the Government to appoint Land j Registration Districts, for the purposes of the Act, in the North and 1 • Middle Islands of New Zealand, such districts to be constituted befoie the first day of March next ensuing. Land Registrars’ Districts being appointed, all lands included within them can be brought under this Act, the Land Registry Act, I860,” •‘The Land Registry Act, 1861,” and tin; “ Land Registry Amendment Act. 1862,” being thereby repealed : “ Provided that all titles to land brought under the operation of the said Acts respectively shall be and remain -as good and valid in law as they would have been if the said Acts had not been repealed.” Land registered under any of these repeated A«-ts is brought under the operation of the present Act without cost to the person registered as proprietor, while the Assurance Fund constituted by the “ Land Registry Act, I860,” will form part of the assurance fund constiruted by this Act. Those repealed Acts, so far as practice is conci rned, may he c naidered as almost a dead letter, as few properties have ever been bought unde them. There is no doubt,, however, but that the provision • of the present I Act will be largely availed of by the ' public. As this ct comes so soon into operation it would be as well that our readers should understand some thing about its construction aud workings. A Registrar-General of Lands bavin? been appointed by the Governor, he will next appoint District Land Registrars, and assistants where such may be necessai y ; or the RegistrarGeneral of Ldid may also hold office as a District Registrar. In each Land Registrar’s distr ct the Governor will next appoint properly-qualified persons, being barristers or solicitors, or persons holding the office of Registrar of Deeds to be Examiners of Titles under the Act in and for each district. Their rate of salary or remuneration is to be fixed by the General Assembly; but, until such is done, they may be paid out of any moneys applicable to the purpose. A commission will probably be the mode of remuneration. An examiner of titles may hold office under the Government, but should he be a barrister or solicitor he must not practice other than as Examiner of Titles under this Act. On application being made by persons in the prescribed form to bring their land under the operations of the Act the duties of the Examiner of Titles commences, and he is invested with considerable powers. He must inspect all documents; he may summons witnesses, and examine them upon oath ; he may correct errors, under certain restrictions, in certificates of title; >'iul he may enter caveats for the protection of persons supposed to be in terested. Land gi anted- in tee after the proclamation of districts has been issued, as a matter of course, comes under the Act, hut lands gi’anted prior to the day when this Act c >mes into operation must be brought uuder its operations, and such can only be done by the person or persons in possession being legally and equitably empowered to dispose of the feesimple. Undivided shares in mortgaged lands may oulv be brought under the operations of the \ct upon conditions. Upon application having been made, the applicant must snr- , render his instruments of title to the Land Registrar, ar.d, if no legal difficulty exists, a certificate of title is issued directly to himself, on payment of the prescribed charges and an ass a ranee fee equal to one halfpenny in r he pound of the va ue of the property. This is necessary as a protection against any suit which might arise against the Registrar, and is carried to the credit of the “ Laud Assurance Fund Account,” such m >uey being treated as part of the “ Public Trust Funds'.” Very f;w actions under this head have arisen, and in those colonies where the Torrens Act , is in operation a considerable fund has accumulated. The present system of conveyancing is alio ished by this Act. Every fresh purchaser receives his certificate of title from the District Registrar, and there can be no complications. Lauds may he mort gaged or encumbered, express provision foi such having been made.. In this case the agency of the legal fraternity may he dispensed with. The Act gives a prescribed foyrn of mortgage or for an incumbrance to secure the payment of a sum of money. Clause 111 provides for,the appoinr.

meat of persons as Land Brokers, to transact business under the Act, each broker being required to furnish security, while his scale of charges is also regulated. The transfer of land is, by the present' Act, rendered extremely simple, .while the cost of doing so may be said to be almost nominal in proportion to the old system of conveyancing.