Cross Border e-Conveyancing (CROBECO)
CROBECO is a project of the European Land Registry Association.
"CROBECO (Cross Border e-Conveyancing) concerns cross border registration in foreign Land Registers and it is an ELRA initiative awarded by a Grant within the Civil Justice specific programme (JLS/2009/JCIV/AG/0002).
The project aims to facilitate a European real estate market by supporting foreign buyers of a (second) home in the EU. Some prospective buyers hesitate because of insecurities about foreign legislation and because of the language gap. They fear the pitfall of unknown limitations and restrictions. Examples of these pitfalls were described in “Properties rights and wrongs”, a publication by Dianne Wallis and Sarah Allison, that was based on petitions received by the European Parliament Petitions Committee.
CROBECO aims to avoid those pitfalls by having the contract of sale executed in the language of the foreign buyer by a conveyancer from that country who is properly informed about in the country of the plot of land existing property rights, limitations and charges. The framework for this alternative conceyancing process for foreign buyers of real estate is based on a process with tools to support foreign conveyancers is described in a Cross Border Conveyancing Reference Framework (CCRF). Drafts of the CCRF were discussed with ELRA-members and other stakeholders. The final version of the CCRF was approved at the General Assembly of ELRA in May 2012."
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