Page 8 Advertisements Column 1

Cromwell Argus, Volume III, Issue 134, 4 June 1872, Page 8

Government Notice LAND TRANSFER ACT. LANDS ALIENATED or Contracted to be Alienated from the Crown in fee, prior to the coming into the operation of “ The Land Transfer Act, 1870,” may be brought under the provisions of the Act by application 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 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 laud, £IOO ... ... 0 11 2 Where the certificate of title is directed to issue in the name of the purchaser : value of land, £IOO 1 11 2 These charges are increased by 4s 2d (Assurance Fund) for every additional £IOO in value. 2. When the Applicant is the oriental 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 0 3 4 Where the value of the land is £3OO 3 12 6 "Where the value of the land is £4OO 4 1 8 Where the value of the 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 Convening 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 crises 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 under the provisions of the Act, in order that whenever he deals with it, he may be in a nosition to avail himself of the facilities afforded by having a Registered Title, can do so without <ing 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 deed with his land at a moment's notice. Ang Title, however long awl comp’ex, may be investigated at a cost to the applicant of only Flee Shillings ; for if the title is rejected, all fees arc 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 bo 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 otiice. If the certificate in the possession of the registered proprietor is at any time Ids', or destroyed by lire, Ac., a new certificate is supplied by the Registrar at a small cost AH '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 s:»licitur’s charge, is never less than fifteen shillings, frequently very ranch more ; while land which has been brought under the provisions of tiie Laud Transfer Act can he 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 thirty-one shillings, which is the highest sum allowed by the Act, no matter what the value or area of the laud. Under the Regulations in force on and after the Ist of January, 1872, the charge for ccrtilicates of title issued upon Memoranda of Transfer is REDUCED TO TEN SHILLINGS ill all cases WHERE THE VALUE OF THE LAND IS UNDER TEN ROUNDS. 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 maybe transferred or discharged, or a I .case 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 he attained in a system of registration of deeds. 2. l-t 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. o. It simplifies to the utmost possible extent the forms of transfer and the modes of conveyance. (5. 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 estates in allotments. 0. Transactions can be effected at a moment’s notice, and at a minimum of cost. 10. Frauds in the purchase and sale of land are effectually prevented, because the certificate of title in the possession of the vendor shows the exact con lition of the estate, i.e., if the estate lie mortgaged, encumbered, or leased. Memoranda disclosing the particulars of any such transactions affecting the estate are written upon the certificate of title.