Page 4 Advertisements Column 6

Patea Mail, Volume I, Issue 54, 16 October 1875, Page 4

LAND TRANSFER ACT. LANDS alienated or contracted to be alienated from the Crown in fee. prior to the coming into operation of “ The Land Transfer Act, 1870, may oe brought under the provisions of the /vet by application from the persons entitled thereto. All lands aleniated from the Crown after the coming into operation of £< The Laud Transfer Act, 1870,” are subject to, and must be dealt with, in manner prescribed by the Act. The following are examples of the fee, payable for bringing the land under the provisions of the Land TrairrfU 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 witli— Where the certificate of title is diaected to issue in the name of the applicant : value of land, £i(JO ... £0 2 Where the certificate of title is directed to issue in the name of the purchaser; value of land, £IOO ... 0 Od. These charges are increased by 4s. 2 (Assurance Fund) for every additional £IOO in value. 2. When the applicant is the original grantee, and the land has boon dealt with ; or where the applicant is not the original grantee—(Assurance Fee) for every additional £IOO in value. These charges also represent the cost of convoying land, inasmuch as applicants to bring land under the Act can direct the certificates of title to issue in the names of any other persons. CREDIT roil EKES IS GIVEN. When desired by the applicant, in all. eases ivliere 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 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 without any present cost, by allowing the fees to remain unpaid until such dcoling takes 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 applicant of only five shillings; for if the title is rejected, all fees are returned, with the exception of that amount. ALL LITI.ES AUE GUARANTEED BY TII 1C GOA"EItXM EX T. On all conveyances by deed under the old system, the cost ol 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 of eleven shillings where a whole section is conveyed ; and where only paid is conveyed (and therefore a fresh certificate of title is necessitated), of thirty-one shillings, which is the highest sum allowed by the Act, no mattcu what the value or area of the land. Under the Regulations in force on and after the Ist of January, 1872, the charge of certificate 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 DELAYS. The following arc some of the advantages conferred by the Land Traansier system: 1. It secures the principal benefits and advantages sought to be attained 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 properly for the future. 4. It makes purchasers of the fee and cases perfectly secure. 5. It simplifies, to the utmost possible extent, the forms of transfer and the modes of conveyance, (1. It increases the saleable value of land. 7. It tends to lower the rate of interest on loans secured on lands. I, It gives facilities for the sale of large estates in allotments.