|
Registered Cruiser
Join Date: May 2004
Location: Pursuing Happiness
Posts: 3,892
|
Torrens system is the best registry by far. Without it title insurance is an absolute must. The so-called abstract system is inherently flawed because there is so much room for error: to many instances where titled can be affected. Lawyers, title companies, lenders and insurers all operate independently of each other whereas the Torrens system demands a common registry protocol that all parties must adhere to.
Title disputes are rare under the Torrens system and almost always involve fraud. The Torrens system also offers recourse and a redress process if a title can be proved to have been recorded improperly or registered fraudulently. Not sure why every jurusdiction doesn't adopt it.
__________________
87' Carmine Red Carrera - Keeper
82' Silver SC - Sold 79' Gran Prix White SC - Sold
05' Black C2S - Daily driver
I have never really completely understood anything.
|