The Land Registry has launched Defining the service Electronic Funds Transfer, outlining its proposals for electronic fund transfer (EFT) in e-conveyancing.
The use of EFT is intended to improve funds transfer reliability and efficiency, and make it easier for those involved to establish the time of completion, in order to plan for the release of keys to new owners.
Solicitors are invited to share their views by completing a questionnaire, published simultaneously with the discussion document.
Click here to complete the questionnaire online.
Alternatively, both documents can be downloaded from the Land Registry website-www.landregistry.gov.uk
References: EGi Legal News 5/04/05
