A Moose Jaw real estate lawyer recently bought a home in the city and signed a contract in virtual reality, which is legally enforceable.
Talon Regent, owner of Regent Law, has created Easy eLaw, an automated practice which he said is designed to minimize costs for clients when completing transactions, such as buying a home.We deliver the local news you need in these turbulent times on weekdays at 3 p.m.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
Regent purchased a residential home from realtor Laura Fehr, signing an offer through Meta virtual reality technology on Nov. 2, which he filmed as aWhile Regent, who has a passion for the law and technology, said he’s aware of contracts signed in virtual reality for virtual reality products, like a cosmetic feature for a VR avatar, he’s not heard of any lawyer who has met with clients in VR to sign legally binding documents as in this case.
He’s not expecting a quick or sudden uptake in electronic signatures, but wanted to highlight the possibilities and opportunities afforded by adopting the evolving technology. For clients, it could save on time and the costs of fuel or parking. On the business side, “significant” overhead costs that firms would usually pass onto their clients could be avoided with virtual reality.
“Using virtual reality for signing land transfer documents at this stage is still impractical but it is important that we take these steps to inspire people, show them what’s possible and ensure we continue to work toward a future that allows these things to become more practical, more useful,” Regent said.
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