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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.
In the United States, all claims of land ownership can be traced back to a land patent, first-title deed, or similar document regarding land previously owned by France, Spain, the United Kingdom, Mexico, the Kingdom of Hawaii, Russia, or Native Americans. Other terms for the certificate that grants such rights include "first-title deed" and ...
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 ...
If successful, the Land Court issues an Original Certificate of Title, and issues Transfer Certificates of Title for all subsequent valid transfers. Notice of liens, mortgages, long-term leases, easements, servitudes or other encumbrances on the land is recorded on the Certificate of Title. The application is formally a legal case in a court of ...
The record title system differs significantly from land registration systems, such as the Torrens system, that have been adopted in a few states. The principal difference is that the recording system does not determine who owns the title or interest involved, which is ultimately established through litigation in the courts.
A property abstract is a summary of the legal documents that chronicle transactions associated with a particular parcel of land.Generally included are references to deeds, mortgages, wills, probate records, court litigations, and tax sales—basically, any legal document that affects the property.
In contrast to the Torrens system in which basically the one who registered in a land registry as owner of a piece or parcel of land has an indefeasible title of the land, deeds registration system is merely a registration of all important instruments related to that land. In order to establish one's title to the land, a person (or usually ...
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