Saturday, January 30, 2010
It's not every day that we get a new paper on the Torrens system, but today is that day! From Australia, where Sir Robert invented the system, Patricia Lane (Sydney Law) has posted Indefeasibility for What? Interpretive Choices in the Torrens System, forthcoming in L. Bennett Moses, PROPERTY AND SECURITY: SELECTED ESSAYS, B. Edgeworth and C. Sherry, eds., Lawbook Co: Australia. The abstract:
The Torrens system in Australia protects the security of the registered title, but at what price is the certainty achieved? The registered title is subject to supervening statutes, and the defects in the registered dealings themselves. The system demands interpretive choices be made at the level of interaction with other statutes, and in determining claims between registered interests, such as between the registered proprietor and lessees or mortgagees. Both statutory and contractual interpretive approaches are required to determine these priority questions.