The idea of secure, paperless, electronic conveyancing transactions is surely the stuff of science fiction? Gabriel Brennan defies the sceptics and argues that e-conveyancing transactions are in the offing in this broad overview of e-conveyancing in a number of countries. Despite the varying forms of e-conveyancing being adopted around the globe, many jurisdictions have encountered similar issues when developing an e-conveyancing strategy. These include:
- How to ensure stakeholder involvement and confidence in the process;
- How to balance public and private interests;
- Whether to carry out a fundamental review and simplification of the whole conveyancing process and, if so, how to do this;
- How to finance the process;
- How and when to roll out the project;
- When to make the process compulsory.
The writer then discusses how these issues were addressed by the Bearing Point report, which was appended to the Law Reform Commission Report eConveyancing: Modelling of the Irish Conveyancing System
, which contains three main elements:
- A process module of the entire conveyancing transaction;
- An analysis of the role of the various stakeholders and their state of readiness for e-conveyancing, and
- A vision and strategy for e-conveyancing, together with a roadmap of how to achieve it.
Of interest is the recommendation by Bearing Point that it is imperative for the existing processes to be enhanced through improvements 'process improvements workstream' as part of the overall programme and the 'legislative changes workstream', which involves initiating the legislative changes required, and the 'e-conveyancing development workstream'.
This article is well worth the read in its summation of electronic conveyancing. It can be accessed on page 38 of the November issue
of the Irish Law Society Gazette.