Page 4 Advertisements Column 5

Timaru Herald, Volume XVII, Issue 798, 11 September 1872, Page 4

Government Notices. LAND TRANSFER ACT. Lands alienated or contracted to be alienated from the o'rowii ia fee, prior to the coming into operation of "The Laud Transfer Act, 1570," may be brought under the provisions of the Act by application from the persons entitled thereto. All lands alienated from the Cro'vn after the coming into operation of " The Land Transfer Act, 1870," are subject to, and must be dealt with m manner prescribed by the Act. The following are examples of the fees pavablc 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 m -which has been dealt with — Where the Certificate of Title is directed to issue m the name of the Applicant : Value of land £100 0 11 2 Where the Certificate of Title is directed to issue m the name of the Purchaser : Value of land £100 ... 111 2 These charges are increased by 4s 2d (Assurance Fund) for every additional £100 m 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 : 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 0 Where the value of the laud is £400 4 18 Where the value of laud is above £400, the fees increase at the rate, of 4s 2il (Assurance Fund) for every additional £100 m 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 m the names of any other persons. Credit for Fees is given, when desired by the applicant, m all cases where the proprietor applies to have the land registered \iuder the Act m his own name, and the fees may remain unpaid until the land is dealt with. Any person, therefore, who wishes to bring his laud under the provisions of the Act, m order that whenever he deals with it he may be m a position to avail himself of the facilities afforded by having a. Registered Title, can do so without any jn'esent coat, by allowing the fees to remain unpaid until such dealing takes place. He ■will then be m a position to Mortgage, Transfer, Lease, or otherwise deal with his land at a moment's notice. Any Title, lioivtver 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 Indefeasible. Under the Old System of Conveyancing, if a single deed is lost, the title is m many cases rendered absolutely defective, and therefore unmarketable, while m others it can only be rectified at great cost. Persons who bring their Jand under the Act, surrender all their deeds, and receive m exchange a Certificate of Title, a duplicate of which is retained m the office. If the Certificate m 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 cost of Registratiou m the Deeds Registry, over and above the soLicrroit's ciiarge, is never less than fifteen shillikgs, 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 part is conveyed, (and therefore a Fresh Certificate of Title necessitated,) of thirty-oxe shillings which is the highest sum allowed by the Act, no matter what the value or area of the land. Under the Regulations m force on and after the Ist January. 1572, the charge for Certificates of Title issued upon Memoranda of Transfer is reduced to ten shillings m all cases where the value op 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 are some of the advantages conferred by the Laud Transfer system : 1. It secures the priucii)al benefits and advantages sought to be attained m 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 Property for the future. 4. Jt makes purchasers of the fee and leases perfectly secure. 5. It simplifies to the utmost possible extent the forms of transfer aad the modes of conveyance. 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 the sale of large estates m allotments. 9. Transactions can be effected at a moment's notice, and at a minimum of cost. 10. Frauds m the purchase and sale of land are effectually pi-evented, because the Certificate of Title m the possession of the Vendor shows the exact condition of the estate, i.e., if the estate be mortgaged, encumbered, or leased. Memoranda disclosing the particulars of any such transactions affecting the estate are written upon 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, JB4l, and none of the land included therein has been dealt with ... 0 2 0 When the title is of any other description, and the value exceeds £300 ... ... -... 1 0 0 When, the title ia of any other description, and the value exceeds £200 and does not exceed £300 OJIS 0 When the title is of any other description, and the value ex- . ceeds £100 and does not exceed £200 ... ... ... ... 010 0