Bricks to clicks in on-line deal roomTop City law firm Norton Rose is set to collaborate with estate agents and surveyors in an on-line property deal room which is being launched this month.
The deal room, Territorium, (www.territorium.co.uk), will give property lawyers a secure Internet facility in which to transact, transfer documents instantly and search title documents with 24 hour on-line access to work on the deal.
There is no charge, but after six months a 1 per property fee will be charged.John Glover, a spokesman for Teramedia, the company behind the project, said: 'We are deliberately trying to keep it down.
We will be charging for other value-added services.'He said services which will be charged for will include the National Land Information Service (NLIS), the on-line Land Registry search, local authority and title searches, and Ordnance Survey mapping.
Mr Glover said: 'Most will be optional and the solicitor will pick the services they need.' Norton Rose and London high street residential conveyancing firms Kay Tessler and Gilbert Turner Coomber, are being consulted on the project, together with W Davies & Son in Woking.
Mr Glover said: 'We have four firms on board.
That's all we need at this stage.
Any more would be unwieldy.' He added Teramedia is focusing on signing up estate agents this month, and solicitors in June.
Michael Kay of Kay Tessler said: 'I consider Territorium to be the most exciting development affecting land law since the Land Registry was created in 1875.
The Territorium system has the potential to maintain an independent advisory service of high street solicitors who might otherwise disappear entirely.'Anne Mizzi
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