Lawlink NSW: Issues Paper 6 (1989) - Torrens Title: Compensation for Loss

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Issues Paper 6 (1989) - Torrens Title: Compensation for Loss

History of this Reference (Digest)

Table of Contents

Terms of Reference
Participants
Submissions

1. INTRODUCTION
I. The Reference
II. Background to the Reference

A. The Torrens system and compensation for loss

1. Mistakes

2. Deprivation of an estate or interest in land

B. Compensation schemes in New South Wales and Victoria

C. Claims for compensation

1. New South Wales

2. Victoria

III. Outline of this Paper
Footnotes

2. RATIONALE FOR COMPENSATION
I. Original Basis for Compensation

A. Indefeasibility

B. Opposition of legal profession to Torrens system

II. Indefeasibility or State-Guaranteed Title?
III. Need for a State Guarantee of Torrens Title

A. The general Australian view

B. Other jurisdictions

IV. Title Insurance

A. The United States experience

B. The private insurance option

Footnotes

3. THE CURRENT POSITION IN NEW SOUTH WALES
I. The Assurance Fund
II. Compensation Provisions

A. Bases of claim

B. Defendant

C. Complexity of legislation

D. Fraud

E. Claims procedures

F. Time limit for making claims

G. Measure of damages

III. Judicial Interpretation of the Compensation Provisions

A. “In consequence of fraud” in section 126(1)(a)

B. Section 127

IV. Administration of the Real Property Act 1900

A. Administrative perfection or risk management?

B. The risk management policy in operation

C. Future areas for application of risk management policy

1. Primary applications (applications to bring land under the Real Property Act)

2. Investigation of possessory titles

3. Survey investigation

Footnotes

4. THE CURRENT POSITION IN VICTORIA
I. The Assurance Fund
II. Compensation Provisions

A. Bases of claim

B. Defendant

C. Fraud

D. Measure of damages awarded under section 110

E. Limitation on time for bringing actions

III. Administration of the Transfer of Land Act 1958

A. Administrative perfection or risk management?

B. Future areas for practice of risk management policy

1. Investigation of possessory titles

2. Caveats

3. Powers of attorney

Footnotes

5. DOES THE LEGISLATION IN EITHER NEW SOUTH WALES OR VICTORIA ACCORD WITH THE PRINCIPAL IDEALS OF A TORRENS SYSTEM?
I. Principles of a Torrens system

A. Mirror principle

B. Curtain principle

C. Insurance principle

II. Application of the Insurance Principle in New South Wales
III. Application of the Insurance Principle in Victoria
Footnotes

6. OPTIONS FOR REFORM
I. Overview
II. Option 1: Abolition of State Guarantee

A. The case for abolition

B. The issue

III. Option 2: Retention of State Guarantee: Elimination of Legislative Deficiencies

A. Introduction

B. What types of claims for compensation should be allowed?

1. Reliance on the Register

2. Wrongful deprivation

3. Negligence of claimant’s solicitor or agent

4. Contributory negligence of claimant

5. Exhaustion of other remedies

6. Administrative procedures

7. Assessment of compensation

8. Time for making claims

9. Contribution to the fund on lodgment of dealings

IV. Option 3: State Guarantee Provided by Private Insurer
V. Option 4: Title Insurance Arranged by Registered Proprietor

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