The purchaser of an interest in land was never

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The purchaser of an interest in land was never completely certain that they were getting good title. Because another deed could always simply arise. The purchaser was not necessarily sure that they had priority over other interests. There was no priority for registered deeds over unregistered one. Therefore prior depended largely on the absence of notice. Torrens sought to balance security of title with security of transactions. There is still General Law Land – not much. Under the Torrens System: o Contract signed, deposit payed. o Settlement after 30, 60 or 90 days as agreed. o Transfer (with CoT) lodged with Land Registry. o Registrar alters folio and purchaser becomes new RP. Under the old system you got a legal interest through a deed, but under the Torrens System the legal interest is generally acquired by registration. Exceptions: o Lease under 3 years. S54(2) of the PLA. Torrens System will not register it, so that type of lease is a legal leasehold estate. o Adverse possession – you get a legal interest because an AP gets a legal fee simple without registration. o Legal easement acquired through course of conduct/ prescription. Certificate of Title gives you a description of all the registered interests that exist. The original CoT remained a the Land Titles Office. That is now known as the folio of the register. The Duplicate Certificate of Title is held by the fee simple owner or by the mortgagee – this is now know simply as a CoT. 20
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The register will consist of computer entries and is to be done online. The aim of the Torrens System is to provide a single record relating to a particular piece of land. This would give confidence to the purchaser. In Australian there are vast tracts of Crown Land and Native Title Land. Otherwise land in GLL or TSL. GLL is out there because that land was alienated by the Crown before 1862. Any land alienated after 1862 is TSL by s8 of the TLA. GLL may be converted into TSL. A new scheme for conversion was introduced in 1998/9. Sections 8-26 provides that all GLL must be converted into TSL if being sold. Ss10 and 11 provides for voluntary conversion in the absence of transaction. Indefeasibility: Nature and Significance of Indefeasibility – Print Relevant Sections o The Register is required to be created by s27 of the TLA because it operates to vest and divest title. o The register abolishes the doctrine of notice for those who manage to register their interests. o S27 requires the TLO to keep and register of all land and all persons holding interests in such parcels of land. o Folio – division of the register. Each folio has a distinct identifying reference and deals with a particular parcel of land. It records a description of the land and interests in estates in the land and the proprietor of those interests and estates.
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