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Frustrating delays when buying a house could soon be a thing of the past
for clients at Close Thornton Solicitors in Darlington.
The firm is leading the way in e-conveyancing thereby eliminating paperwork
and time-consuming administrative problems when buying or selling a house.
A draft proposal for the introduction of e-conveyancing has now been revealed following
three years of consultations with more than 1,200 solicitors.
Under the proposals all conveyancing information needed to sell or buy
a property could be made available electronically to all Parties.
Since the information will be available instantly and simultaneously to everyone concerned,
problems will be identified and resolved at the outset rather than much later on.
"By cutting the time of individual transactions, the time taken for chains
could reduce dramatically. The technology will enable bottlenecks to be identified and show
what has to happen to clear them,"
said Denis Childs, Head of Conveyancing at Close Thornton.
"Professional conveyancers, such as ourselves, will be able to offer a speedier,
better and cheaper service. Conveyancing will become more streamlined and less stressful."
"The process will be much more transparent. Clients will be able to have access
via a secure internet link to see the state of play and the progress their solicitor is making
on their behalf."
The changes would enable solicitors, the Land Registry, and banks to exchange
documents via a customised and centralised database. Searches through the NLIS will be easier,
quicker and less cumbersome. At present the law requires that contracts for the sale of land
and legal documents such as trusts transfers and deeds mortgages have to be in writing and signed.
It is hoped that electronic conveyancing will become the norm.
The so-called "registration gap" - where there is a delay between completion
and updating of the land registers - will be a thing of the past.
Land/charge certificates and title deeds will disappear.
All the information on a property will be stored digitally at the Land Registry
and will be accessible online through Land Registry Direct.
Electronic conveyancing will assist in moving us from a system of "registration of title"
to a system of "title by registration".
For further information about this news release please
contact Close Thornton Solicitors Marketing and Media Department.
Tel: 01325 466461 or
e-mail.
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