Land Registration rules that aim to pave the way for digital land registration have been approved by the Government.
Set to come into effect on 6 April this year, the changes are a core element of HM Land Registry’s plans to become the world’s leading land registry for simplicity, speed, as well as an open approach to data.
These ambitions are outlined in the HMLR 5-year Business Strategy, were Chief Executive and Chief Land Registrar Graham Farrant sets out the changes that the organisation plans to deliver; this includes allowing for fully digital conveyancing documents, signed with e-signatures.
In order to reach its overarching aim to make conveyancing simpler through the utilisation of digital technology, HM Land Registry will work with consumers, having released a public consultation on the changes in 2017. As well as streamlining the process, the plans also aim to reduce costs and minimise delays, whilst ensuring that security of the registry remains a priority. Responding to consumer needs’, the scheduled amendments to the rules will mean the introduction of fully digital conveyancing documents including mortgages and transfers.
I am not sure about the simplicity and speed etc... some countries have already started transacting on block-chain for over a year already - Sweden is also now starting. I dont know what HMLR would have that's simpler than block-chain to effect and record a transaction.