2005 October: After a long wait, the Land Registry has reached a stage where it has a clear vision of what it intends to introduce and when it thinks it will be able to do this. The first element, the chain matrix, is likely to be piloted next year, with a basic electronic conveyancing service and an electronic lodgement facility being introduced in 2007. We are still looking for volunteers to take part in the pilots, but even if you decide to take no part in the trials it will not be long before electronic conveyancing will be available to all. You will need to start making decisions soon about how you intend to deal with these new ways of working. Of course, for some time it may be possible for you to keep to the old paper-based system, but this cannot go on forever. Electronic conveyancing, if successful, could be made compulsory sooner rather than later, and you may find that even before it is compulsory other players in the process may force you to move. Lenders may insist that if you want to remain on their panels you adopt a system that fits in with their electronic processes. And clients may question why a modern system of property transfer is not available in your firm.
Missing Links:
electronic funds transfer (EFT) "We are not convinced that introducing a new method of moving conveyancing funds around the country at the same time as establishing a new electronic conveyancing service is such a good idea. We are therefore still, going ahead with seeking a new money transfer system for conveyancing, but we intend to proceed slowly and ensure that all options are fully considered."
electronic signatures "We know that many practitioners would not be happy to sign documents in this way. However this is the way electronic conveyancing is carried out in many commonwealth jurisdictions, especially in Canada and Australia, and the idea is gaining support here. What would be needed is a standard “representation arrangement”, probably embodied in something like a client care letter and signed by the conveyancer’s client authorising him to sign in this way. If we were to proceed in this way, electronic signatures could be cheaper, because signatures would need to be issued only to known conveyancers, perhaps 30,000 to 40,000 of them, whereas if the general public can sign we would be looking at signatures coming in from over 30 million members of the public. Obviously the risk of fraud is then much greater, as is the corresponding cost of insurance against it. So, it is possible that in the e conveyancing pilot mentioned below documents might need to be signed by practitioners only. However, our pilot for e signatures is examining how members of the public might be issued with e signatures, and I am confident that as the electronic conveyancing programme is further “rolled out” clients will be able to sign documents themselves."
Full e conveyancing Pilot. The aim is to start a pilot for the full service in the second half of 2007. The first essential component is a fully secure system linking practitioners to the Land Registry’s central conveyancing service. Practitioners will have signed up to a network access agreement, setting out the rights and obligations of both users and the Land Registry and a procedure will be in place establishing how to go about electronic transactions
Extracts from paper given by Steve Kelway
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