Torrens Title – What is the background for it
Torrens title is where the register of the land title is maintained by the state and in this the ownership of the land is transferred by means of registration of the title rather than by deeds. This helps to simplify the transactions and to ensure that the ownership is certified. The reason why it is named Torrens is after Sir Robert Richard Torrens who lived from 1814 to 1884 and was the third premier of Southern Australia.
The way torrens works is on 3 principles. The mirror principle, where the certificate of title mirrors the facts regarding the title to each lot that is registered. It means each dealing needs to be entered into the register and be viewable online.
The curtain principle is where all the details of the ownership is contained in the Certificate of title and ownership proving need not be done by complicated longwinded documents like what happens in the case of private conveyance systems.
The indemnity principle provides compensation for any loss which is caused by any types of fraud or errors by the Registrar of Titles.
The difference between Torrens titles as well as common law titles is that the person acting in good faith is able to rely on the information which is in the land register with regards the rights and interests of the parties there as well as they can use the information to act on it. The proprietor who is mentioned and registered in the Torrens title is said to have indefeasible rights.