The Land Registry has recently introduced a new system which allows Conveyancing Solicitors focused on speed to submit applications and documents electronically. This will speed up the registration of property transfers and mortgages, but will it provide quicker Conveyancing for buyers and sellers?
The Registry is a government agency which registers the ownership of land and property in England and Wales. At present more than 23 million titles are registered, with more being added all the time.
Titles to the vast majority of homes are now registered. This means that when a property is being sold, the buyer’s Conveyancing Solicitor will be quickly able to check that the seller is the registered owner and is entitled to sell.
The sale itself is evidenced by a Transfer deed, and when the purchase is completed an application must be sent to the registry. In the past a form has had to be manually filled in and posted to the correct office, together with the original transfer and any new mortgage deed.
Conveyancing Solicitors can now use the new electronic document registration service (or eDRS) can now submit applications to change the register electronically. Instead of having to post original documents, these are scanned and downloaded with the application.
This system means that applications will be received instantaneously, so there is no risk of original documents being lost in the post. The registry reports that during trials there were many cases where they were able to complete the registrations on the same day as they received the application, thus ensuring that the register showed the new owner’s title with the minimum of delay.
eDRS is to be welcomed as the latest in one of many initiatives by the land registry to provide a quicker service. This all helps Conveyancing Solicitors provide speedy Conveyancing for homebuyers and sellers.
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