Page 2 Advertisements Column 3

Mount Ida Chronicle, Volume III, Issue 161, 5 April 1872, Page 2

Mise eilaneous Advertisements

LAND TRANSFER ACT. : T'-ANDS ALIENATED or contrac- ._ I ted to be alienated from tlie Cro-vra. in fee, prior to the coining into operstion of "'.The. Land Transfer Act, 1870," may be bro\ight under the provisions of the Act byapplication from the persons entitled thereto. All lands alienated from the Crown after the coming into operation of "The Land Transfer Act, 1870," are subject to and must be dealt with in manner ...prescribed by the Act.

The following are examples of the fees payable for "bringing land under the provisions of the Land Transfer Act:—1. When the title consists of a Grant, dated on or subsequent to the 28th Deceraber, 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 ... ..." ... ... £0 ii 2 Where the Certificate of Title is directed to issue in the name of the Purebasei : Value of land - £IOO ... ... ... ... Hi 2 These charges are increased by 4s. 2d. (Assurance Fund) for every additional £IOO in value. 2. V/hen the Applicant is the original Grantee, and the land has been dealt with- or where the Applicant is not the original Grantee:— ° Where the value of the land is £IOO £2 14 2 Where the value of the land is £'2oo 3 3 4 Where the value of the land is £3OO 3 12 6 Where the value of the land is £4OO 4 1 S .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. Tkese charges also Q-epresent the Cost of Conveying JLand, inasniuch as applicants to bring land under the Act can direct the Certificates of Title ; to issue in the names of.any. other persons. • redit for Fees is given, when desired by the applicant, in all cases where the proprietor applies to have the land registered under'.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 unUer the pro visions of the Act, in order that whenever he deals with it he maybe in a position to avail himself of the facilities afforded,by having a iiegistered Titie, can do so without any present cost, by allowing the fees to remain unpaid until such dealing-lakes place. He will then be in a position.'to Mortgage, Transfer, Lease, or otherwise deal with His land at a moment's notice. ;.' Any Title, however, long and complex, may be investigated at a cost to the appli--cant of only Jive shillings ; for if the title is rejected, all fees are.returned,' with the exception of that amount. Indefeasible. Under the Old System of Conveyancing, if a single deed is lost, the title is in many cases rendered absolutely defective, and therefore.unmarketable, while in others it can only .be rectified at great- cost. Persons who bring their land- under the Act sizrrender all their deeds and receive in exchange a Certificate of Title, a duplicate of which is retained in the office. Tf the Certificate in the possession of the registered proprietor is' at any time lost, or destroyed by lire, &e., 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 land which has been brought under the provisions of the Land Transfer Act can be transferred at a total cost oe eleven shillings where a whole section is conveyed; and where only part is conveyed (and therefore a fresh Certificate of Title necessitated) of thirty-one shillings, which is the highest sum allowed by the Act, no matter what the value or area of the land.

U rider the Regulations in force oil and after the 1st '■■ January, 1872, the charge for Certificates of Title issued upon Memoranda of Transfer is reduced to tent 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 Delays. 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 Keal 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 conveyance. 6. It increases the saleable value of land. 7- It tends to lower the rate of interest en Toaus secured on lands. .