Page 3 Advertisements Column 4

Tuapeka Times, Volume V, Issue 222, 2 May 1872, Page 3

LAND TRANSFER ACT. T ANDS ALIENATED or contracted to jj be alienated from the Crown in fee, prior to the coming into operation of " The Land Transfer Act, 1870," may be brought under the provisions of the Act by application from the persons entitled thereto. Ait Lands awbnatbd 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 December, 1841, none of the land included in which has been dealt J with— Where the Certificate of Title is directed to issue in the name of the Applicant : Value of land £100 - - - 0 11 2 Where the Certificate of Title ■ is directed to .issue in the name of the Purchaser : Value of land £100 - - 1 11 2 These charges are increased by 4s 2d (Assurance Fund) for every additional £100 in value. 2. When the Applicant is the original Grantee, and the land has been dealt with ; or where . the Applicant is not the original Grantee : I Where the value of the land , is £100 - - - 2 14 2 Where the value of the land is £200 - - - 3 3 4 Where the value of the land ia £300 - - - 3 12 6 Where the value of the land is £400 - - - 4 1 8 Where the value of the land is above £400, the fees increase at the rate of 4s 2d (Assurance Fund) for every additional £100 in value. These Charges also represent the Cost of Conveying 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 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 (except the Application Fee) may remain unpaid antil -the land is dealt with. Any person, therefore, who wishes to bring his land wider 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 witlwivt any present cost, (except the application fee) 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 loith his laad at a moment's notice. Any Title, Jwwever long and complex, may be investigated at a cost to the applicant of only Five Slrillings ; for. if the I Title is rejected, all fees are returned, with the exception of that amount. Certificates of Title are Absolutely 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, surrender all their deeds, and receive in exchange a Certificate of Title, a duplicate of which is retained in the office. ]f 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 average cost of Registration in the Deeds Registry, over and above the Solicitor's charge, Twenty 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 Shilliugs 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 j value or area of the land. Under the Regulations in force on and after the Ist J"<iimary, 1872, the Charge | for Certificates of Title issuedr upon | I Memoranda of Transfer is Reduced to i 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 Sur- ' rendered for Five Shillings. These Operations Involve no Delays. The following are some of the advan tages conferred by the Land Transfer 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. i 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 eitenf the forms of transfer and the | modes of conveyance. j '6. It- increases the saleable v,ilue 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 estates in allotments. 9. Transactions can be effected at a moment's notice, aud at a minimum of cost. 10. Frauds ia the purchase and sale of land are effectually prevented, because the Certificate of Title in the possession o£ tlua Vendor shows the exact condition