Speech delivered on 4th June, 1857, in the Legislative Assembly by the Hon. the Treasurer, Mr. Torrens, on the introduction of his Bill for amending the law relating to the Transfer of Real Property.
Mr. Speaker, I do not attempt to remedy the evils complained of, by amendment of the existing law; that I believe to be impossible: I propose to abolish a system irremediably wrong in principle, and to substitute a method which I believe will, when explained, commend itself to the House as consistent with common sense, perfectly feasible, and effectual for all purposes required.
The first and leading principle of the measure which I introduce, is designed to cut off the very source of all costliness, insecurity, litigation, by abolishing altogether the system of retrospective titles and ordaining that as often as the fee simple is transferred, the existing title must be surrendered to the Crown, and a fresh grant from the Crown issued to the new proprietor.
The principle next in importance prescribes that registration per se and alone shall give validity to transactions affecting land. Deposit of duplicate of the instrument, together with the record of the transaction by memorandum entered in the book of registration and endorsed on the grant by the Registrar-General, to constitute registration. This method is designed to give confidence and security to purchasers and mortgagees, through the certainty that nothing affecting the title can have existence beyond the transactions of which they have notice in the memoranda endorsed on the grant.
My third principle aims at simplicity and economy by prescribing certain stereotyped forms of instruments available to each occasion to be supplied at the Registry Office, so that any man of ordinary sense and education may transact his own business, without the necessity of applying to a solicitor, except in complicated cases of settlements or entails, which are unusual in this colony.
Many will admit that the system which I recommend might have been introduced at the first founding of this colony, with facility and very great advantage, but doubt its practicability now that titles have become complicated. Admitting a difficulty, I deny that it is insurmountable, or such as should cause us to hesitate in securing the advantage of transfer by registration. I do not propose a scheme involving violent or arbitrary interference with existing titles, but would leave it optional with proprietors to avail themselves of it or not. It will thus be gradual in its operation, yet will put titles in such a train that the desired result will eventually be obtained.