Land Registry procures new electronic funds transfer system [electronic resource]
Land Registry procures new electronic funds transfer system [electronic resource]
- 2006
- Land Registry Press Notice (LRPN 22/06) 29 June 2006 .
Land Registry intends to procure an Electronic Funds Transfer (EFT) system to underpin its e-conveyancing service due to be released in stages from 2007. EFT allows money to be transferred from buyer to seller while simultaneously paying fees such as stamp duty land tax. Land Registry will then automatically update its database with the new owner's details. EFT will remove the delays currently prolonging the registration process.
ECONVEYANCING
England and Wales--1543-
Land Registry intends to procure an Electronic Funds Transfer (EFT) system to underpin its e-conveyancing service due to be released in stages from 2007. EFT allows money to be transferred from buyer to seller while simultaneously paying fees such as stamp duty land tax. Land Registry will then automatically update its database with the new owner's details. EFT will remove the delays currently prolonging the registration process.
ECONVEYANCING
England and Wales--1543-