Page:History of Adelaide and vicinity.djvu/161

 The Producers ADELAIDE AND VICINITY 135 When the Real Property Bill was introduced into the House of Assembly it was received with decided marks of approval, despite the important changes which it proposed. It passed its third reading in the Lower House on December 15, 1857, with a majority of 12 votes, and in the Legislative Council with a majority of five. Determined opposition certainly was shown, but principally by members of the legal profession. The system was "an assimilation," says Stow, "of the mode of transferring real property to that of transferring ships," a branch which Torrens had become thoroughly conversant with when Collector of Customs. Stow continues : — " The fundamental principle of the Act is conveyance by registration and certificate instead of deeds. All the retrospect is destroyed. In bringing private lands under the Act, the title is carefully inquired into ; but when the authorities of the Lands Titles Office are satisfied about that, a clean certificate is given, and the cumbrous deeds disappear. The title is indefeasible, except in cases of fraud, or adverse and rightful possession when the certificate, or a transfer based thereupon, was given. In the former case the title is secure in the hands of an innocent person who has purchased from the holder under a certificate fraudulently obtained. The party wronged, under such circumstances, recovers from the Assurance Fund, constituted by a percentage of a half-penny per pound, levied on all property brought under the Act With regard to defeasibility through someone being in adverse and rightful possession, ordinary precaution would prevent anyone from becoming an unfortunate transferee under such circumstances. In the case of misdescription of boundaries they are corrected, but otherwise the title is indefeasible. The fees for- transfers and mortgages are very small. A certificate of title costs £1 ; registering a memorandum of mortgage, los. ; other fees in proportion, the e.xpenses being greater by a pound or two in rescuing land from the old system and bringing it under the new. The assistance of a lawyer is not necessary ; the transferor and transferee can act for themselves, or employ a broker licensed to conduct such business." The sy.stem has been such a success that the "Torrens Act" has been adopted in the other Australian colonies, and elsewhere. Mr. Torrens came to be "hailed as a general benefactor." He visited the neighboring colonies in i860, and met with "a series of ovations," and on his return was appointed Registrar-General, so that he might administer the Act he had framed. The members of the legal profession for some time continued their personal opposition to the Act, and 14 practitioners drew up a petition to the Secretary of State for the Colonies praying that the opinion of the law officers of the Crown should be obtained concerning its legality and validity. Public meetings followed. " It was not," writes H odder, " in human nature that lawyers, who had made small fortunes by their tedious ' provided always ' and ' and whereas,' could sit still and contemplate these time-honored forms, which had been considered indispensable to a good tide, being ruthlessly swept away ; still less could they gaze upon vanishing six-and-eightpences and thirteen-and-fourpences with equanimity.' But the Real Property Act stood its ground, although a few amendments in it have since been made. An unfortunate and painful quarrel between Parliament and a member of the