In the future, the Law Society of Scotland is hoping conveyancing transactions, whether sale or purchase, across the country will be processed online via a cloud-based system.
Accordingly, the Law Society and has called for tenders for such a digital property portal to be designed, with a tender panel expected to be appointed by May 2015.
It is hoped the cloud-based system would enable other relevant property parties who are involved in the conveyancing process, such as searching agencies, lenders and Registers of Scotland, to interact throughout.
The latest move by the Scottish Law Society coincides with the creation of a Scottish Government task-force, led by the Keeper of Registers of Scotland that will examine the use (and potential use) of digital services for Scottish land and property transactions.
Said task-force is expected to provide a report to the Scottish Government by July 2015.
Cautiously commenting on the potential digital switch, the Law Society of Scotland President, Alistair Morris, stated:
“It is a very exciting prospect, however we are at the very earliest stage.
“New legislation which permits solicitors to use electronic signatures on documents and the launch of the Law Society digital Smartcard, which all solicitors will have by the end of this year, mean the opportunity is there to develop an online service which could revolutionise the way property solicitors work, helping to speed up processes as well as providing an accurate and fully accountable system, which benefits solicitors and their clients.
“We can see huge potential benefits in having a digital one-stop-shop for conveyancing and there is certainly appetite for this among the profession and others.
“However we want to be sure that the group invited to tender can come up with a cost-effective online solution which will work for solicitors and others involved in the property sector before we make a decision on how to progress.”
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