Folios

In many systems, ownership information is stored in documents called Folios.  A Folio would, typically contain:

• A description of the property;
• The name(s) and addresses of the owners;
• A description of the interest owned (e.g., freehold or leasehold);
• The extent of the guarantee of the record: e.g., Absolute or Qualified, and matters excluded from guarantee;  (Other matters are implicitly excluded).
• Mortgages and other incumbrances affecting the interest of the owner.

It is common for several plots or properties to be included in one Folio.

Parcels

When computerised, each separate physical plot or property should be given a unique identifier, called a Parcel Number.  It is then possible to associate multiple pieces of information with the individual parcel.  All the ownership information formerly addressable only through inspection of the Folio, now becomes addressable through the individual Parcel Number.  In some countries, the Folio is dropped, as it is unnecessary in a computerised system.  However, it can be retained as a suitable way of linking properties held under the same title (e.g., several separate fields comprising a farm, or a dwelling house and car garage in separate physical plots).

Information can also be held in transitional forms, e.g., where the Folio text is computerised but the mapping information is still held in paper format. 

The transactions in the system are designed to deal with all situations, i.e., fully computerised files, files in transitional state and paper files.  Where a transaction involves the capture of a Parcel, it results in a fully computerised record, even though the initial state was a transitional or paper file.

© Proinnsias Ó Cillín (2002)