E-asy E-Conveyancing
1.5 mins reading time
As Victoria makes the transition to e-conveyancing, there are important dates which all conveyancers and lawyers acting on your behalf need to be familiar with.
By 1 August 2019, all conveyancing transactions are to be lodged electronically. Below is a simple electronic conveyance timeline detailing the transition stages from paper to electronic.
These changes will provide the parties to a transaction with a better experience when it comes to property settlements. The process will be more streamlined and consistent in that PEXA (the online conveyancing platform) reduces duplication, and therefore, reduces the possibility of errors. Issues that arise at the last minute, which often cause paper settlements to fall over, can usually be dealt with between the parties’ representatives quickly and easily. In addition, the funds received by a vendor are paid into their nominated account instantaneously, so there is no need to attend to banking cheques, or waiting for them to clear.
Further, the introduction of execution of documents by conveyancers or lawyers allows the process to be quicker, as once the client authority is signed there is no time spent on obtaining signatures on hard copy documents. This reduces turn around time significantly, and also allows last minute issues to be easily dealt with.
E-Conveyancing is a huge step forward, and needs careful navigation. The Property and Construction team at Macpherson Kelley can ensure the process is smooth and easy on your next property transaction. Contact us to find out more.
This article was written by Elizabeth Linedale, Senior Associate – Property and Construction and Cinzia Pietrolungo, Lawyer – Employment, Safety and Migration.
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E-asy E-Conveyancing
As Victoria makes the transition to e-conveyancing, there are important dates which all conveyancers and lawyers acting on your behalf need to be familiar with.
By 1 August 2019, all conveyancing transactions are to be lodged electronically. Below is a simple electronic conveyance timeline detailing the transition stages from paper to electronic.
These changes will provide the parties to a transaction with a better experience when it comes to property settlements. The process will be more streamlined and consistent in that PEXA (the online conveyancing platform) reduces duplication, and therefore, reduces the possibility of errors. Issues that arise at the last minute, which often cause paper settlements to fall over, can usually be dealt with between the parties’ representatives quickly and easily. In addition, the funds received by a vendor are paid into their nominated account instantaneously, so there is no need to attend to banking cheques, or waiting for them to clear.
Further, the introduction of execution of documents by conveyancers or lawyers allows the process to be quicker, as once the client authority is signed there is no time spent on obtaining signatures on hard copy documents. This reduces turn around time significantly, and also allows last minute issues to be easily dealt with.
E-Conveyancing is a huge step forward, and needs careful navigation. The Property and Construction team at Macpherson Kelley can ensure the process is smooth and easy on your next property transaction. Contact us to find out more.
This article was written by Elizabeth Linedale, Senior Associate – Property and Construction and Cinzia Pietrolungo, Lawyer – Employment, Safety and Migration.