A key consultation paper on electronic conveyancing has been published by the Land Registry ‘ marking the first move by the Government to overhaul conveyancing practices in England and Wales.
The paper proposes a fully electronic system for conveyancing in a bid to simplify and speed up the home-buying process. The Land Registry is seeking views from all people involved in the land and property markets before the system is introduced.
Lord Chancellor, Lord Irvine, said the paper would be the first of many during the development of the system. ‘The purpose of the consultation paper being launched is to ensure that its centrepiece, an electronic conveyancing system, meets the needs of its users. We recognise how important home-buying and selling is to millions of people, particularly as, for most people, their home is their biggest asset and main form of savings.’
The consultation on e-conveyancing forms part of a larger overhaul by the Government of the home-buying process. Lord Irvine said the Government has a programme of reforms which aim to make the buying process ‘less stressful because it will be quicker, cheaper, more transparent and more certain.’
Lord Irvine added: ‘By 2012, we will have a complete Land Register for England and Wales that provides enhanced information for business and is at the centre of a revolutionised, fully electronic, conveyancing process.’