What Are the Elements of Torrens Title?
The first element of the system of Torrens title is the register. Section 31 (B) of the Real Property Act 1900 (NSW) requires the registrar general to maintain a register for the purposes of the act. The register comprises, amongst other things, folios, dealings, prescribed instruments, and records which the regulations required to be kept as part of the register. The register may be any medium or combination of mediums capable of recording information. The next element is called a folio which may be either a manual follow the holy in written form or a computer folio. Under the act, the Registrar General creates a folio of the register by making a record of a description of the land and of the estate will interest in the land to which the for the Creator, the clients are obviously interest, and particulars of any other estates or interest affecting land. The folio is allocated a distinctive reference, which is quoted in all transactions affecting land.
The third major element is a certificate of title. The registrar may or must when requested by the registered proprietor or registered mortgagee or chargee issue a certificate of title for the land. The certificate of title is, in effect, a copy of the folio of the register for the land concerned, and is given to the registered proprietor. The registrar may refuse to register a dealing unless a certificate of title is produced. Whether folio of the register for the land is a manual for their, the registrar authors the certificate of title to reflect alterations made to the folio on register in dealing with a folly was a computer folio, the registrar simply issues a new edition of the folio, showing a register in its updated form.
The final major element of the system is called the dealing. Dealings any instrument other than the Crown grant or caveat, that is registerable or capable of being made registerable under the provisions of the act, or in respect of which any recording in the register is by this or any other act required or permitted to be made. Each dealing accepted by the registrar is a lot of the distinctive reference, and is registered when the registrar general make such recording the register with respect the dealing as it thinks fit. The registrar is not entitled to refuse registration on the grounds that dealing incorporates provisions that are contained in instruments are not within the register. These four main elements being, the register, the folios, the certificates of title, and the dealings of the four main things that make up the Torrens title system.