The doctrine of mortgagee in good faith presupposes that the mortgagor, who is not the rightful owner of the property, has already succeeded in obtaining a
Torrens title over the property in his or her name and that, after obtaining the said title, he or she succeeds in mortgaging the property to another who relies on what appears on the said title.
Gordon, chairman of the Senate Blue Ribbon Committee, slammed on Monday the officials of different government agencies who knowingly or unknowingly abetted criminal syndicates in tarnishing the integrity of the country's
Torrens title.
But before we get to the NALUA, allow me to discuss 'tenured' land use rights - the Regalian rights and
Torrens title.
A
torrens title system is an "absolute title by registration" system whereby registration of title is conclusive evidence of title subject to limited exemptions specified under law and a similar system was adopted by the Dubai International Financial Centre Authority (DIFC) to provide investors greater certainty with respect to property interests in the DIFC.
The systems that emulate the
Torrens title system developed in South Australia in the mid-19th century use the concept of fraud to draw a boundary between the circumstances in which notice of prior unregistered interests matters and those where it does not.
(160) Moreover, the doctrine has been accepted by the courts with little or no comment about its compatibility with
Torrens title. The perverse effect of the traditional doctrine is that there are no procedural safeguards for the registered proprietors.
'We propose a water rights system based on banking, share trading and
Torrens Title registration procedures,' Young says.
Title to "old system" properties (i.e., those not registered under the
Torrens title system) is established by tracing deeds, mortgage papers, and wills!
We do not have
Torrens title to the position we are holding right now.'
The senator is speeding up the investigations "so that we can complete the gathering of evidence," file charges against the conspirators, punish the guilty - and protect the integrity of the "
Torrens Title."