Residential Conveyancing - QES Pilot
Just over a year after The Land Registry (HMLR) began to allow deeds that had been signed electronically to be registered, HMLR has announced a pilot of the use of qualified electronic signatures (QES) which do not require witnessing.
The first transaction using the new QES signature was completed in September 2021 and the pilot will continue throughout the rest of 2021.
QES does not require a witness as the identity of the signee is verified by a 'qualified trust service provider', a digital, independent identity check by a provider that meets strict criteria set out by legislation and known as eIDAS.
This speeds up the process significantly with the September transaction reportedly taking only 24 hours, beginning with the QES signature, followed by registration at HMLR and subsequent transfer of the title becoming legally effective, a process which currently takes 6 - 8 weeks using a so-called ‘wet ink’ signature on paper.
Posted on 7 October, 2021 by Ortolan