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E-Conveyancing
E-conveyancing will transform
the current paper-based conveyancing system into
electronic documents, requisitions and signatures
and is a central pillar of the Government's agenda
to modernise public services.
The Land Registry has already
started the process. For some time we have been
able to make essential searches and obtain title
information and documents electronically. Lenders
have been able to discharge mortgages electronically
and is possible for certain minor applications
to be lodged electronically. In cases where the
Land Registry have queries on registration applications
some regional offices raise these by email.
The main proposed development
in e-conveyancing was to be involve the 'chain
matrix'. This would signal, to all involved in
the process, readiness for exchange and completion
and would have notepad and messaging facilities.
Following a wide spread pilot, development on
the chain matrix has stopped by the Land Registry
although the Land Resgistry has indicated its
willingness to work with software developers willing
to progress matters. The Land Registry is presently
concentrating on extending the types of transactions
which can be handled electronically. By 2010,
transfer of ownership, removal of old mortgage
from the register and registration of new mortgages
will all be possible over the Internet.
It is understood that chain
transparency and funds transfer are still very
much part of the Land Registry's long term vision.
Meanwhile there is public access to the title
registers and plans online for 20 million properties.
For further information Click
Here
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