LAND LAWS AND TRANSFER 185 



are then issued, and if no objection is alleged within a 

 certain period, duplicate certificates of title are drawn 

 op, one of which is placed on the Registry, the other 

 handed to the owner. Applicants in undisturbed pos- 

 session, or enjoying good holding titles, are registered. 

 It is not necessary to show such absolute titles as will 

 satisfy punctilious conveyancers, or can be enforced upon 

 unwilling purchasers. Registrars do not demand strict 

 proof, but admit qualified, possessory, and -prhnci facie 

 claims. Error is guarded against by a guarantee fund. 

 Cases of fraud or mistake hardly ever occur ; in 999 cases 

 out of 1,000, the title proves sufficient. If the registered 

 owner mortsfao-es his land, he retains his certificate of 

 ownership, but it is endorsed with the charge. Thus, 

 while he cannot deceive second mortgagees, he retains the 

 power of additionally charging his land. He can, if he 

 likes, effect equitable mortgages by lodging his certificate 

 of ownership with a creditor, who issues a caveat to the 

 registrar, forbidding him to register any further dealing 

 with the estate till some named period has expired after 

 notice is given. The land is then marked in the Registry 

 with a red cross ; and the notice given to equitable mort- 

 gagees of the intention to effect additional charges enables 

 them to secure priority. Both settlement and entails 

 exist in Australia, and are effected by registration. In 

 these cases the life-owner is registered as such, and the 

 folio of absolute ownership is closed. Each owner who 

 places himself on the register, or succeeds to land by in- 

 heritance or by will, subscribes \cl. in the pound to a 

 Guarantee Fund, out of which, in cases of fraud or error, 

 aggrieved purchasers or rightful owners are indemnified. 

 No money is paid out of the fund to the first registered 

 owner ; but it enables him to offer the estate to purchasers 



