Page 4 Advertisements Column 1

Taranaki Herald, Volume XX, Issue 1181, 3 April 1872, Page 4

LAND TRANSFER "ACT. LANDS ALTENATED or contracted to bo alienated from the Crown in fee, prior to tho coming into operation of " The Land Transfer Act, 1870," may be brought under tho provisions of the Act by application from the persons entitled thereto. Alt, Lands Alienated from the Crown after tho 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 arc examples of the fees payable for bringing land under the provisions of tho 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 — Whore the Certificate of Title is £ s. d. 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 Theee charges are increased by 4s. 2d. (Assurance Fund) for every additional £100 in value. 2. When the Applicant ia 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 £100... 2 14 2 Where the value of the land is £200... 3 3 4 Where the value of the land is £300... 3 12 6 Where the value of the land is £400... 4 18 Where the value of the land is above £400, the fees increase at the rate of4s. 2d. (Assurance Fund) for every additional £100 in value. Tliese Charges also represent tlie Cost of Conveying Land, inasmuch ns 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 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 vjithoid any present cost, by allowing the fees to remain unpaid until such dealing takes plnce. Ho will then be in a position to Mortgage, Transfer, Lease, or otherwise deal with his land at a moments 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. Certificates of Title are Absolutely Inde. i feasible. Under the Old System of Conveyancing, if a single deed is lost, the title is in many cases rendered absolutely defective, and and therefore unmarketable, while in others it can only be l'ectified 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. If the Certificate in the possession of tho registered proprietor is at any time lost, or destroyed by fire, &0., a new Certificate is supplied by the Registrar at n small cost. All Titles are Guaranteed by the Government. On all ConveyaAices 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 COT OF eleven shillings where a whole section is conveyed ; and where only part is conveyed, (and therefore a Fresh Certificate of Title necessitated), of thiuty-one shillings which is the highest sum allowed by the Act, no matter what the value or area of the land. Under the Regulations iv force ort and after the Ist January, 1872, the charge for Certificates of Title issued upon Memoranda of Transfpr is REDUCED TO TEN SHILLINGS in all Cases WUEHE THE VALUE OF THE LAND IS UNDER TEN POUNDS. Tho TOT4L 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 trasferred or discharged 5 or a Lease transferred or surrendered, for Five Shillings. Tliese Operations involve no Delay. The following are some of the advantages conferred by the Land Transfer system :—: — 1. It secures the principal benefits and advantnge3 sought to be attained in a Bystem of registration of deeds. 2. It renders retrospective investigations of title unnecessary as to all land registered. 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 tho utmost possible extent, the forms of transfer and tho modes of convoyauce. 6. 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 tho sale of large estates in allotments. 9. Transactions can be effected at a moment's notice, and at a minimum of cost. 10. Frauds in the purchase and sale of land aro effectually prevented, because the Certificate of Title in t le possession of the Vendor Bhows the esact condition of the estate, i.c.> if the estate be mortgaged, encumbered, or leased. Memoranda disclosing the particulars of any such transactions affecting the estate are written apon the Certificate of Title. FEES CHARGEABLE UNDER LAND TRANSFER ACT. (Extract from New Zealand Gazette, No. 64, of 9th December, 1871). For bringing Land under the Provisions of the Act— £ s. d. When the 'title consists of a grant dated on or subsequent to the 28th. December, 1811, and none of tho land included therein has been dealt with 0 2 0 When the title is of any other desoription, and the value exceeds £300 10 0 When the title is of any other description, and the value exceeds £200 and does not exceed £300... 015 0 When the title is of any other description, and the value exceeds £100 and docs not exceed £200... 0 10 0 When tho title is of any other description, and the value does not exceed £100 0 5 0 • Contribution to Assurance Fund upon first bringing land under this Act, and upon the registration of an estate of freehold in possession derived by settlement, will, or intestacy — In the pound sterling „. ... 0 0 J