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Torrens title is a land registration and land transfer system in which a state creates and maintains a register of land holdings, which serves as the conclusive evidence (termed "indefeasibility") of title of the person recorded on the register as the proprietor (owner), and of all other interests recorded on the register.
Assignment of Legal Title to Stocks represented by Standard Oil Trust, issued 17. July 1897. When a contract for the sale of land is executed, equitable [interest/title] passes to the seller to the buyer. When the conditions on the sale contract have been met, legal title passes to the buyer in what is known as closing.
The Land Court staff certifies transfers of land title under the Torrens system; the court presides over disputed titles and rights to registered land. The Land Court is administered by a Registrar, an Assistant Registrar, and the Judge of the Land Court, who is a judge of the First Circuit assigned to the Land Court.
The Land Registry has been dealing with the registration of all transactions (purchase, sale, mortgage, remortgage and other burdens) concerning registered land since 1892, and issued land certificates which are a state guarantee of the registered owner's good title up to 1 January 2007. Land Certificates have been abolished by virtue of ...
Proponents argue that providing formal titles increases security of land tenure, supports development of markets in land, and allows better access to credit (using land titles as collateral). Peruvian economist Hernando de Soto Polar is the most well-known advocate of the approach, but it has a long history. [ 2 ]
The LTSA was established under the Land Title and Survey Authority Act in January 2005 and provides for the registration of all real property ownership and land interests, and all private and Crown land surveys through two divisions: Land Title Division – ensures the continued integrity of BC’s Torrens title system for registering land ...
A land parcel or cadastral parcel is defined as "a continuous area, or more appropriately volume, that is identified by a unique set of homogeneous property rights". [3] Cadastral surveys document the boundaries of land ownership, by the production of documents, diagrams, sketches, plans (plats in the US), charts, and maps. They were originally ...
In a narrow legal sense, a transfer tax is essentially a transaction fee imposed on the transfer of title to property from one entity to another. This kind of tax is typically imposed where there is a legal requirement for registration of the transfer, such as transfers of real estate , shares , or bond .