A registration may be set aside if procured by fraud unless the rights of an innocent party are affected, but an action to set it aside for fraud must be commenced within 10 years of registration. An action to set aside the judgment of registration or to modify it (except on the ground of fraud) must be commenced within 30 days after final order or judgment.

5. Upon entry of final order, an enrollment thereof is filed in the office of the County Clerk, and a certified copy is delivered to the Registrar. The Registrar registers the title and issues a certificate of it. The original certificate of registration remains in the office of the Registrar. It states the name or names in which title is registered; whether married or unmarried; name of husband or wife; if owner is a minor, his age; if under disability, the facts thereof and the particulars of all estates, mortgages, other liens, etc., affecting the title. A title book, is kept having a separate leaf for each certificate. An exact duplicate of the certificate known as owner's duplicate, is made and delivered to the owner. The owner gives a receipt for it, thus putting his signature on record' in the Registrar's office. The certificate held by the owner shows the title he holds and all liens and incumbrances against it. It will also be subject to taxes, water rates and assessments coming due after registration, certain leases made after or pending registration, easements made after registration, not of record, and liens, claims and rights which under the laws and constitution of the United States need not be of record.

Liens are not good against registered property unless noted on the certificate of registration. Adverse possession does not run against a registered title.

6. Property once registered must remain registered. It cannot be withdrawn from registration. There exists an implied agreement running with the land making it subject to the provisions of the title registration law.

When the title to registered property is transferred a deed is executed by the grantors. The certificate (owner's duplicate) is surrendered, the interested parties agree upon a statement as to the nature and effect of the transfer, the old certificate is cancelled and the Registrar issues a new one to the new owner. The titles does not pass until the new registration has been completed. The deed or instrument of conveyance must contain a statement as to whether the grantor or grantors are married or unmarried.

If part of a piece of registered property is transferred a new certificate may be issued to the old owner for the remaining part. The law also provides for the registration of mortgages and leases of registered property. The instrument is filed with the Registrar accompanied by a statement of the parties as to its nature and effect. Proper notation is made on the certificate. Judgments, decrees, attachments, and other liens may be noted on the Registrar's record of the title, and so may assignments of mortgages and releases and discharges of incumbrances. If there be a sale of registered property at foreclosure, the official examiner examines the action and proceeding, reports on it to the court and to the officer making the sale. The deed is not delivered until the official examiner reports on the regularity of it. Upon production of the deed and report of the official examiner, the Court directs registration of title accordingly.

If the owner of registered property dies the heirs at law or devisees, after probate of will and issuance of letters, may petition the court for an order directing in whose name or names and in what manner the title shall be registered. There shall be made on the certificate a memorial that the estate is in process of settlement. After final settlement of the estate this memorial can be removed. Also upon the coming of age of a minor, or the termination of a trust, etc., proper notation thereof is made on the certificate. An executor with power to sell need not have the title registered in him, but the person to whom he sells must have it registered.

7. Upon registration of a title there is paid to the Registrar a sum equal to 1/10 of one percentum of the value of the property as fixed by the last assessment for local taxation. This is a contribution to the assurance fund and is paid to the County Treasurer, except in New York City, where payment is made to the Chamberlain.

Any person who without his own negligence sustains loss or damage or is deprived of real property or any estate, right or interest therein through any error, omission or mistake on a certificate of title shall have a cause of action against the County Treasurer (or in New York City the Chamberlain) to recover compensation. Claims are paid as are other claims against the county. In New York City they must be passed upon by the Registrar and the Corporation Counsel. The claimant has a right of action if his claim is not allowed.

No claim, however, is binding against the county for any amount in excess of the amount in the assurance fund of the county at the time. If there is not enough in the fund to pay the claim, the unpaid portion bears legal interest and is paid out of future contributions to the fund as fast as received. The law further provides that there shall be no recovery of an amount greater than the fair market value of the property at the time the right of action accrued, and any action must be begun within six years from such time.

The law specifies the fees that may be charged. The official examiner receives 1/10 of one percentum (based on assessed value) plus $10. There is the contribution to the assurance fund of 1/10 of one per centum. The other fees are small. In addition to them, however, the applicant has to pay the cost of the advertisement, the charge for the survey and whatever charges his own attorney may make for his services.

The form of certificate of title is prescribed and is reproduced in the appendix (form 87).