It undoubtedly seems to be desirable to have a system of registration which accurately determines the ownership of a piece of land and all liens and claims upon it, records or registers these facts and issues a certificate of registration to the owner, the title registered being absolutely conclusive and indefeasible and the results being obtained speedily and cheaply. This is what the so-called Torrens system is designed to accomplish. Some of its advantages, as suggested by those who favor the system, may be summarized as follows: -

(a) The title to the property is searched once for all. Duplications of searches is eliminated. There is no necessity of going behind the registry to effect transfers after the first registration.

(b) Transfers, after the initial registration, can be speedily accomplished. Transactions relating to registered titles can be accomplished in a day. The old system usually took weeks to accomplish the same thing. The original registration, however, usually takes a longer time than a title company examination.

(c) Registration makes the title indefeasible. There is no need of insurance as the title cannot be attacked. Under the old system of title insurance the title company's liability is limited to the amount of the policy and this may not fully protect the owner if there is an increase of value by reason of improvements, or for any other cause.

(d) The speed and safety with which dealings with registered titles can be accomplished should make land titles more marketable and land consequently a more liquid asset. There is no evidence to show that experience with the law in any place has proven this to be so, or if it be so, that it has increased its value or made it more attractive as an investment.

(e) The expense of transferring titles to land and of securing mortgages on it is reduced. This applies more to transfers and mortgages of titles already registered, rather than to the initial registration, although some state that registration in the first instance is cheaper than title examination and insurance.