The name given to a system of title by registration to record ownership of land. It is by far the most common land title and it is the cheapest title to buy and sell. Once you are registered on the title you are the guaranteed owner. Torrens Title is a system of title by registration. The register records all dealings with the land such as transfers, mortgages and leases.
Where the Buyer becomes registered as a proprietor in good faith your interest is subject only to those other interests notified in the register as having priority over yours. That security lasts as long as you remain registered as proprietor without having been guilty of any fraud.
Torrens title is a land title introduced in NSW in 1863 and is a central system of registration. After its introduction in all states crown grants were under this system. The owner of Torrens land is the registered owner (registered proprietor) whose name is on the register kept by the Registrar General. Ownership vests in the registered proprietor under the LTA.
Basic to the system is the concept of indefeasibility of title. Compare with old system title. Torrens title is free from any unregistered interest. Torrens title simplifies conveyancing as any prior defects of title are cured upon registration. The owner in fee simple is the registered proprietor and that interest is noted on the certificate of title.
Transfer is made with a memorandum of transfer registered by the Registrar General. Upon receipt of the memorandum the previous owner's name is deleted ,and the name of the new proprietor noted on the certificate of title.