Limit Contribution to Assurance Fund on Title Entry

Section 93 requires the Register of Deeds to collect as contribution to the Assurance Fund one-fourth of one percent (1/4 of 1%) of the assessed value of the real estate.
The assessed value basis is the last assessment for taxation purposes.
The collection rule applies when there is (1) entry of the certificate of title in the name of the registered owner, and (2) original registration of buildings or other permanent improvements on the land covered by the certificate.
If the land has not yet been assessed for taxation, Section 93 provides that its value for purposes of the Decree is determined by the sworn declaration of two disinterested persons stating that the value they fixed is, to their knowledge, a fair valuation.
Section 93 allows the court to increase the valuation of the property if, during the hearing, it appears that the value stated is too small.

Section 95 authorizes a person to bring an action to recover damages payable out of the Assurance Fund under specified conditions.
A claimant must have sustained loss or damage, or been deprived of land or any estate or interest therein.
The loss must occur in consequence of either: (1) the bringing of the land under the operation of the Torrens system, or (2) events arising after original registration of land.
Compensation may be sought when the deprivation arises through fraud or in consequence of any error, omission, mistake or misdescription in any certificate of title.
The claimant must be barred or otherwise precluded under any law from bringing an action for the recovery of such land or estate or interest.
The person may bring the action in any court of competent jurisdiction for recovery of damage to be paid out of the Assurance Fund.
The claimant must be without negligence on his part.