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Plans for a single national system for electronic property transaction settlements is set to meet resistance from the legal profession and banks tomorrow.
The proposed national e-conveyancing system, which will allegedly save consumers up to $250 million a year, is to be set up and regulated by federal and state governments, However there is concern the Victorian model could prove too difficult to integrate with the other states and territories.
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Prime minister Kevin Rudd and the premiers of each state are expected to convene in Sydney tomorrow to sign off on the regulation and several other key issues.
Published: 02-06-08
