Torrens title /Deed

Discussion in 'Homesteading Questions' started by agmantoo, Sep 21, 2005.

  1. agmantoo

    agmantoo agmantoo Supporter

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    Anyone here have a Torrens title to their property instead of a conventional deed? If so, are there any downside risks with the Torrens title?
     
  2. patarini

    patarini Well-Known Member

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    Do they have them here? Thought that they were for new zealand and australia folks!
     

  3. Don Armstrong

    Don Armstrong In Remembrance

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    They are, and I don't know where else they may apply (although I know they do have it elsewhere). There's no downside to them, and all upside, as they apply in Australia. They are a state-registered and state-guaranteed title. If you get land with a Torrens Title here, and go through the right checking of title (all encumbrances and mortgages most be registered on the title) then the title you get is state-guaranteed good. Doesn't necessarily mean someone can't fake something onto the title - I've seen it happen. However, the state makes good your loss if it gets past their guard. I know this - I've worked for the state Land Titles Office.

    Note, I was talking about the way it works here. It is supposed to be the same wherever there is Torrens Title, but I don't know for sure that it is.
     
  4. wr

    wr Moderator Staff Member Supporter

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    We use the Torrens system in Alberta and I haven't found any down sides to it. With a central registry for titles, you needn't search various agencies for information and because of the way it's set up, if there is an error on a title that causes someone difficulties or harm, they are comensated for the error. I can literally go and request a title to my land and know exactly who has an interest in it because it's all listed. It will show mortgages, oil and gas interests, utility right of ways, builders liens, notice of impending legal action, writs, outstanding tax issues and even offers to purchase. My job requires that I work with land titles daily and the only suggestion I could make is for people to periodically request a copy of their title and see that their address is correct and all other information is accurate.
     
  5. agmantoo

    agmantoo agmantoo Supporter

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    The property being reviewed is in NC. This is the first time I have ever seen the Torrens method. Even the realtor did not know what it entailed. Thanks for the responses!
     
  6. mightybooboo

    mightybooboo Well-Known Member

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    Interesting topic,never heard of it either.

    BooBoo
     
  7. wr

    wr Moderator Staff Member Supporter

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    The torrens system is based on the english system. The idea is that there is only one central registry for land titles. With the single registry anything registered against a title has to be registered at that same central location so there is no worries of buying property and finding out later on that someone is owed money or has rights to your water well or an easement across your land, it simply has to be registered against the title. I can literally order a copy of my title today and know what oil company owns the two facilities, if ownership on them has changed, what bank owns the morgage, what company owns the utilities affiliated with my house and any that may be crossing my land, any unpaid taxes and absolutely anybody that may have a legal interest in my land. The title would literally tell you what year the land was bought by that owner, the title number of the previous owner and it also usually describes in great detail the specific parameters of the land and anything that might be excepted out of the parcel of land.