Only account holders must complete the transaction. Other users of your office`s system who have personal security licenses (PSL) and register documents on your account are not candidates. Please refer to the detailed information contained in the application manual. Candidates fall into one of the 4 categories – „A“ is for listed regulated professionals and financial institutions; – „B“ is a law firm for companies or companies created by qualified category A professionals to practice their profession, for example. B a law firm; – „C“ is intended for all professionals not mentioned in Category A, and – „D“ is intended for all other account holders, including ordinary businesses and individuals who act as real estate developers. Only Category B account holders list users in their office, and only if users are regulated professionals such as lawyers. Professionals should also be mentioned if they are not users of the system, but are directly responsible for monitoring non-professionals who use the account. All account holders are reminded of their obligation to keep Teranet informed of any additions or deletions from their user list. A fiduciary closing procedure is recommended as part of the electronic registration process, as purchase funds, keys and offline securities documents cannot be moved electronically between the parties. The DRA is a standardized form of agreement that governs relations between the parties until all documents and funds are exchanged and electronic registration has been completed. The DRA is an agreement between the parties to the transaction. Please note that the DRA establishes strict trust conditions that only apply to the closing procedure. Guideline 4 – Electronic Closures and Electronic Registration DrA and LAWPRO`s Position on Claims Deductibles Real estate fraud is of great importance to the department.
The Land Registry Act gives the Director of Land Registration the opportunity to authorize those who wish to have access to the Electronic Land Registry System (ELRS) to electronically record documents and to determine the procedure by which they can be approved. Limiting access to those who meet specific standards and criteria, when they have provided proof of their identity, financial resources and good character/accountability, will enhance the security of the consumer protection system and ensure the integrity of the land system. (c) notification of the registration of electronic documents by the registry lawyer. The time frame for submitting the application is approximately 15 minutes, but it depends on whether it is completed and has all the necessary supporting documentation, and also depends on the number of people who participate at the same time. Applicants are encouraged to contact their local land registry and make an appointment to minimize their waiting time. The DRA is an agreement between the parties that deals only with closing procedures. Additions or changes to the standardized form may be required to take into account the circumstances of each transaction. For example, the DRA does not provide for the transfer or acceptance of the property prior to the registration of the ownership documents, nor does it provide for issues relating to intermediate ownership, accommodation, modification or maintenance of contractual rights/obligations, or other matters that are normally related to a „closure of ownership“ (a transaction that cannot be concluded on the scheduled date). These issues must be considered and addressed by counsel for the parties in each transaction, in addition to the specific provisions of the DRA.