First electronic registration entry of a deed

This is a major step in the project on digital registration, which has been ongoing in its current form since 2019 in cooperation between the District commissioners, Digital Iceland, the Ministry of Justice, the National Registry of Iceland and the Housing and Human Resources Agency. The registration of a deed is the final step in the settlement between parties in a real estate transaction, but the deed is the final receipt for the performance of a purchase agreement and seals the transfer of ownership from the seller to the buyer. The prelude to this phase has been long and the preparations have been great. It is planned that the next major phases of the project will aim to provide an electronic registration of all documents relating to the purchase of real estate by individuals in urban areas.

Electronic registrations bring considerable macroeconomic benefits and are a key factor in Iceland becoming a leading player in digital administration.