CROBECO: Cross Border e-Conveyancing

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Posted on: 2 December 2014
By: mackene
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Filed under: News

A system aimed at facilitating property conveyancing across the European Union (EU) has been successfully developed by the CROBECO (Cross Border e-Conveyancing) project to: increase consumer confidence in European conveyancing; aid economic recovery across the EU; and encourage foreign real estate investment, specifically in southern Europe. Through a new online resource called NetPRO, a foreign notary has access to resources which can answer any legal questions they may have. This makes it easier for a consumer to use a notary from their own country when buying a property elsewhere in the EU. CROBECO, supported by the European Land Registry Association (ELRA), promotes cross border registration in foreign land registries by introducing an alternative conveyancing process for foreign buyers of real estate. It also allows for individual rights and obligations of both buyer and seller to be governed by the laws of the country of the foreign buyer. Five countries have participated in the CROBECO project: the Netherlands, England, Wales, Portugal and Spain. Although the focus is on English and Dutch buyers of property rights in Spain and Portugal, the systems used by NetPRO are generic and could readily be adopted by other EU countries.

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