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Reasons for the new Torrens system | Reasons for the new Torrens system |
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The Torrens system was devised to counter the various flaws of the old ‘general system’. Essentially, it was developed in accordance with two main aims: security of title, and ease of transfer. We will now highlight the deficiencies within the old system which gave rise to the establishment of the Torrens system. Security of title under the old system was difficult as there were often many existing and overlapping interests in a piece of land that needed to be formally identified into the documentary chain of title. This resulted in highly technical terms emphasising formal correctness. The complexities of securing title led significant inefficiencies to the actual transfer of property. It often resulted in high cost and time consuming conveyances. Further, even with extensively detailed title searches, some titles are inherently insure by nature. These deficiencies were the catalysts for the new Torrens system that resolved these issues. |