Electronic Conveyancing ( E Conveyancing )

1981 Words8 Pages
Electronic conveyancing (e-conveyancing) was born as an inspired idea of the Land Registry back in the early 2000s. Prior to that, with the ever increasing presence of technology in our day to day lives, as well as business dealings, paper based Land Registry details had begun to be computerised. Almost all registered titles of land had been entered on to a computer based system by roughly the year 1995. There was a basic, rather rudimentary, usage of computer systems. A system of direct access to a computerised register was introduced in 1995, called the Land Registry Direct. (One of the tasks that were thus enabled, for example, was being able to notify the registry of a discharge of a registered charge, or applications to a register.)…show more content…
The Land Registry came to the conclusion of employing a comprehensive system of e-conveyancing. The report produced a detailed outline of the anticipated model of e-conveyancing. The problems of paper-based conveyancing as several. England’s traditional conveyance system stands upon multitudes of paper documents and a heavy reliance on the standard mail. Both parties to the the transaction, buyers and sellers, are subject to many possible problems within the conveyancing process. A primary concern is the registration gap. This is the time between the transfer of drawn up and agreed up contracts and the actual registration of the property unto the new owner. Particular issues with the registration gap is the fact that in any transaction there are too many parties involved, length of transaction is too long and the transparency/opaqueness is questionable/questioned. One of the original few problems identified within the previous system by the LR was the issue of overriding interests. These are third party interests that continue to bind the estate and are enforceable against the purchaser, while not appearing on the register at all. This makes it impossible to fully rely on the register, as it produces an actual risk to the purchaser. The inevitable solution is to still do the investigation (enquiries and inspection). The LR
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