Inksters complete their first ARTL transaction

7 August 2009

Today at Inksters we completed our first conveyancing transaction using Automated Registration of Title to Land (ARTL).

Representatives of Registers of Scotland were in attendance to ensure everything went smoothly.

Inksters were acting for the purchaser of a flat in Glasgow and the transaction involved the completion of a Standard Security (mortgage) deed in favour of a lender, the Stamp Duty Land Transaction Return (for HM Revenue & Customs) and registration of the Disposition (title deed) in favour of our client.

All documents were prepared online via the ARTL system with Brian Inkster applying an electronic signature (using a card issued by Registers of Scotland, card reader and PIN) on behalf of our clients to the Standard Security and the Stamp Duty Land Transaction Return. The seller's solicitors also applied an electronic signature to the Disposition on the seller's behalf. All signed documents were then submitted online to Registers of Scotland for registration.

There were one or two technical issues to resolve which made the presence of representatives of Registers of Scotland invaluable on this occasion. Ultimately, all went according to plan and the transaction settled, title was registered and our clients received their keys.

Whilst there are currently 214 solicitors firms registered for ARTL this transaction was only the 39th live transfer of title transaction to occur on ARTL. The vast majority of the 18,695 ARTL transactions to date have been security transactions (i.e. re-mortgages) rather than transfers of title.

Brian Inkster said: "Having experienced an ARTL settlement today I can certainly see the advantages of the system to solicitors and clients. It reduces the paperwork involved, speeds up the process and results in cost savings to the client. It now requires Scottish solicitors to embrace the system, identify transactions that can be progressed through ARTL and use it. I have already identified the next transaction that we can progress through ARTL (this time a sale) and am seeking to persuade the solicitors acting for the purchasers to use ARTL for the conveyancing."

Contact Brian Inkster on 0141 229 0880 or send Brian an e-mail to clarify whether your next property transaction can benefit from ARTL.