Torrens system
noun
Note: When a certificate of title is first applied for in the Torrens system, the title is searched or examined, a court hearing is held (as in a land court), and a decree confirming title and ordering registration (as with the registrar of deeds) is issued. A certificate of title is then given to the owner, after which the property may be conveyed by executing deeds, delivering the certificate of title to be cancelled, and issuing a new certificate to the new owner. The title registered in a Torrens system is usually guaranteed and marketable, making title insurance unnecessary and greatly reducing the time spent researching the state of the title during subsequent conveyances.
Dictionary Entries Near Torrens system
Cite this Entry
“Torrens system.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/Torrens%20system. Accessed 26 Nov. 2024.
Copy Citation
Share