LAND TRANSFER ACT.

Mount Ida Chronicle, Volume III, Issue 159, 22 March 1872, Page 6

LAND TRANSFER ACT.

AN DS ALIEN AT ED or contrac—i ted to be alienated from the Grown in fi*e, prior to the coining into operation of "The' Land Transfer Act, 1870," maybe brought under the provisions of the Act by application from the persons entitled thereto. _ All luids alienated from the Grown after the coming into operation of "The Land Trausfer Act, 1870," are subject to and must be dealt with in manner prescribed by the The following are examples of the fees payable for bringing land uuder the provisions 'of the Land Transfer Act:— 1. When the title consists of a Grant, dated on or subsequent to the 28th December, 1841, none of the land included in which has been dealt with— Where the Certificate of title is directed to issue in the name of the applicant: Value of land, £IOO ... - .'£3 11-2 Where the Certificate of Title is directed to issue in the name of the Purchase! : Value of land' £IOO ... .... .... ... 111 2 These charges are increased by 4s. 2d. (Assurance Fund) for every additional £id j in value. '■'.■■" 2. When the Applicant is the original Grantee, and the land has been dealt with; jor where the Applicant is not the original Grantee— ' . . : Where the value of the land is £IOO £2 14 j 2 Where the value of the land is £2OO 3 3\ 4 Where the value ot the lind is £3OO. 3 12 ! 6 Where the value of the land is £4OO 4 1 ! 8 Where the value of land is above £4OO the fees increase at the rate of 4s. 2d..(Assurance Fund) for every additional. £IOO in value. These charges also represent the Cost of - v*. :-...'. Conveying Land) ■■ '■ inasmuch as applicants to bring lan I under the Act can direct the Certificates of Title to issue in the names of any other persons. reditfor Fees is <iiven, when desired by the applicant, in all cases ■where the proprietor applies to have the land registered un ler the Act in his own name, and the fees may remain unpaid until the land is dealt with. Any person, therefore, who wishes to bring his land under the provisions of the Act,' in order that whenever he deals with it he may be in a position to avail himself of the facilities afforded by having a Registered Title, can do so mt'toat ant present cost, by allowing the fees to remain unpaid until such dealing takes place. He will then" be in a position to Mortgage, Transfer, Lease, or otherwise deal with liis Land at a moments notice

j Any Title, however tong and'-complex, "may be investigated at a cost to the applicant of only five shillings ■ ior if tile, title is rejected, all fees are returned, with tie exception of that amount. •. ; - ■•■'••' Certificates of Title are Absolutely J i Indefeasible. R Undef'the Old' System ! R GonveyaiJLCiiig, if a single deed is lost, the itle is in mauy cases rendered absolutely defective, and therefore unmarketable, while in others it can only be rectified at great cost. ' Persons who their land under the Act surrender all their deeds and receive in exchange a Certificate of Title, a duplicate of which is retained in the office. If the Certificate in the possession of the registered proprietor is at any time lost, or destroyed by, fire, &c, a new Certificate is supplied by the Registrar at a small cost. All Titles are Guaranteed by the Government. On all Conveyances by Deed under the old system, the cost of Registration in the Deeds Registry, over and above the solicitor's charge, is never less than fifteen shillings, frequently very much more ; while laud which has been brought under the provisions of the Land Transfer Act can be transferred at a total cost of eleven shillings where a whole section is conveyed; and where only part is conveyed (and therefore a fresh Certificate of Title necessitated) of THTRTY-OIS-E SHILLINGS, which is the HIGHEST sum allowed by the Act, no matter what the value or area of the land. - • Under the Regulations in force on and after the Ist January, 1872, the charge for Certificates of Title issued upon Memoranda of Transfer is reduced to ten shillings in all cases where the value of the land is UNDER TEN POUNDS. The total cost of executing a Mortgage or Lease of land registered under the Act is twelve shillings, no matter what the amount involved. A Mortgage may be transferred or discharged, or a Lease transferred or surrendered, for Five Shillings. ' These Operations involve no Belays. The following are some of the advantages conferred by the Land Transfer system:— 1. It secures the principal benefits and advantages sought to be obtained in a system of registration of deeds. 2. It renders retrospective investigations of title unnecessary as to all lands registered. 3. It simplifies the Titles to Real Property for the future. 4. It makes Purchasers of the Fee and Leases perfectly secure. 5. It simplifies to the utmost possible extent the forms of transfer and the modes of conveyauce. 6. It increases the saleable value of land. 7. It tends to lower the rate of interest on loans secured on lands.

8. It gives facilities for the sale of large estate's in allotments. .

9. Transactions can be "effected at a moment's notice; and at a minimum of cost. . .10-. Frauds in the Purchase and c>aleof land are effectually prevented, because tlio (Vitifi-' cate of Title in the possession of the Vtiidor shows the exact condition of the estate, i.e., if the estate be mortgaged, encumbered, or leased. Memoranda disclosing the particulars of au .such transactions aiteoc^x = .the estate are written upon Oertuiuau of T.Dle.

FEES CHARGEABLE UNDE3, LAND '""TRANSFER ACT. (Extract from New' Zealand '-Gazette,' No. 64, of 9th December, 1871.) For bringing Land under the Provisions ot the Act— .

When. any instrument purports to deal with land included in more than one grant or certificate, for each registration memorial , .after the first ... ... ... 0 2 6 ' Lands purchased'from the Crown since the coming into operation of the Land. Transfer Act cannot be dealt with under the old system. '■''''• W. S. MOORHOUSE,.: v Registrar-General of Land.

When the title consists of a .grant dated on or subsequent to the 28th of December, 1841, and - npne of the land therein has been dealt with .:. ... £J 2 0 When'the title is'of any other description, and the value exceeds £300 ... 1 0 0 When the title is of any other des- . criptibn, and the value exceeds £200 and does not exceed £3 JO 0 15 0 When the title is of any other description, and the value.exceeds £100 and does not exceed £200 0 10 0 When the title is of any other description, and the value does not ■' > - exceecUelOO ...... .... ... 05 0 Contributions to Assurance Fund 'upon first-bringing land under this'Act, and upon the. .registration of an estate of freehold in possession derived by settlement, will, or intestacy—in the pound sterling 0 0 i Other fees— . . For every application to bring land under the Act ... ... ... 0 5 0 For certificate of title where the . same is issued in the name of any applicant grantee .."./"... Nil. For 'certificate of title issued upon any memorandum of transfer where the consideration' is under £10 and is not nominal .:. : 0 10 b For every other certificate of title.. 1 0 0 Registering memoranda of transfer, mortgage, encumbrance, or lease . ... . ; . ... 0 10 0 Registering transfer or discharge of mortgage or of or the transfer or. surrender of a lease 0 5 0, Registering proprietor of any estate or interest derived by settlement or transmission ... d lo 0 For every power of attorney 0 10 0 For every registration abstract ... 1 0 0 For. cancelling registration abstract 0 5 0 For every revocation order o io 0 Noting caveat 0 10 0 Cancelling or withdrawal of caveat andservice of notice to caveator "or caveatee ... •'... ... 0 5 0 Issuing order for foreclosure 1 0 0 For every search *. 0 2 0 For every general search -...:'-■ . ... 0 5 0 For every map or plan deposited,... 0 5 0: For.every instrument declaratory of ,.'. trusts," • and for every will or other instrument deposited ... 0 10 o For registering recovery by "proceeding in law or equity, or reentry by lessee... ,..'.. 0 10 o For registering vesting of lease in 'mortgage, consequent-on refusa 1 of Trustee in Bankrupt jy to _ acjept the same.. ..., . ... 0 10 0 For entering notice of niafriage" or. "death ... .v."' ..: -.i... 0 10 0; For entering notice of writ or order of Supreme Court o'lo 6 Taking acknowledgement of mar- * ried women ... -■- ...-; ... 0 5 0 Taking declaration in case of lo3t grant or other instrument, or where production of duplicate is dispensed with 0 10 0 Taking affidavit or statutory declaration ... . ... ... . . 0 5 0 For the exhibition or return of any deposited instrument, or for exhibiting or returning deeds surrendered by applicant proprietor ... '... ... ,'.■: ... 0 5 0 For certified copy, first five folios, per folio of seventy-two words. 0 5 0 For every folio or part folio afterfirst five... ... ... . ... 0 0 8 For every instrument drawn on parchment 0 2 0