ARTL 1st Live Transfer of Property Title
On Thursday 17 April 2008, the first full property transfer which included the processing of Stamp Duty Land Tax (SDLT) successfully took place through the Automated Registration of Title to Land (ARTL) system, marking a key milestone for the Registers of Scotland (RoS) ARTL project.
The transaction involved PSM Direct Limited in Dunfermline (buying agent) and Somerville & Russell in Musselburgh (selling agent).
To mark the occasion, representatives from the Society, HM Revenue & Customs (HMRC), BT and Registers of Scotland attended a launch event in Dunfermline.
Some comments from those who attended the event …
Andy Smith, Director of Registration, RoS
“This is a major step forward in the development of ARTL and a keystone in our eRegistration programme. ARTL will improve the way in which Registers of Scotland delivers services to solicitors, the financial community and ultimately the Scottish public. The system is accessible, fast and secure. It has also enabled us to reduce registration fees for ARTL transactions. I would like to thank everyone who has helped us to reach this significant stage in the ARTL project including the Law Society of Scotland, Council of Mortgage Lenders and those firms involved in the testing”.
Sally Mills, HMRC
“Through working with RoS on ARTL we have demonstrated that collaborative working is a success and we are at the forefront of the eGovernment agenda”.
Kyle Peddie, Chief Executive, PSM Direct
“PSM Direct was delighted to be asked by the Registers of Scotland to carry out the first full property transfer in Scotland using ARTL. We have been involved in the live remortgage pilot since August 2007 and have experienced the benefits that using ARTL brings to us and to our clients. Today marks an important step in the roll out of ARTL to the legal profession and a significant milestone in the history of conveyancing in Scotland”.
Pamela Duncan, Somerville & Russell
“We are extremely pleased to be involved in the first full transfer of a property title using the ARTL system. This is an exciting time and a huge leap forward for Scottish conveyancing”.
Professor Stewart Brymer, The Law Society of Scotland
“This is a major milestone in the development of ARTL. It represents a significant step towards full e-conveyancing. I am confident that, in ARTL, Scotland has world-leading technology in e-registration of which we should be proud.”
Tom Kelly, Director, BT Devolved Government
"This transaction represents a key milestone in our strategic partnership with RoS. This state-of-the-art IT system will allow RoS to offer more efficient and cost-effective services to its customers. In particular the use of digital signatures in a system of this kind is a first in Europe and has allowed a traditional, paper-based process to be transformed into a highly-sophisticated, online system.
To date, over 4000 applications for the creation of standard securities and discharges have been successfully registered through the ARTL system.
