Harbourside Legal moves with the future of conveyancing
In a move designed to provide a more streamlined and modern service for its clients, Harbourside Legal has become an accredited “E-Conveyancer” being one of the first law firms in New South Wales to move its legal offering into the future.
E-conveyancing will provide an option for parties to complete property transactions electronically including registration of changes to property interests and ownership and financial transactions relating to settlement.
According to the Law Society of New South Wales, ‘Electronic conveyancing does not cover the whole of the conveyancing transaction, the platform is essentially a virtual settlement room.’
Abraham Ishkhanian, Principal, Harbourside Legal Services, said, ‘The benefits of the system include a reduction of disbursement costs for clients, a greater improvement in settlement issues and disputes and lesser need for our lawyers and support staff to physically attend settlements. As a result we get to spend more time assisting our clients.’
E-conveyancing is expected to rapidly grow in New South Wales as more legal practitioners sign up to use the system and banks and property companies move to take advantage of the benefits of real-time information.
Mr Ishkhanian said, ‘Our law firm is always looking for ways to innovate and we realised that by using e-conveyancing we can actually improve our service to clients. Major property developers such as Crown Group and Sekesui House are already using the system from the start of the buying process and are providing a service that appeals to a younger buyer demographic.’
Harbourside Legal expects that within the next 12 months the percentage of property transactions using the new system will increase exponentially. The firm looks forward to the day when property transactions can mostly be paperless.
‘We expect to save reams of paper in the future and our clients will find it easier. With more than 500,000 property transactions undertaken per year in New South Wales, this system will revolutionise the way our law firm does business and we intend to pass on these benefits to our clients in an improved service offering. It’s a win-win situation, Mr Ishkhanian concluded.