The next eConveyancing mandate is less than 60 days away, from 1 July 2018 you will be required to electronically lodge all caveats and standalone transfers, along with mortgages, refinances and discharges of mortgage (including non-authorised deposit-taking institutions).
Are you registered to transact? Find out how below.
Getting started and completing the transition
From 1 July 2018, lawyers and conveyancers will be required to use eConveyancing for standalone caveats and transfers, mortgages, and discharges.
Get started by taking two steps:
- At this stage, the only electronic lodgment network operator (ELNO) operating in NSW is Property Exchange Australia (PEXA). Register with PEXA. For more details on ELNOs, visit ARNECC’s website.
- Start transacting electronically
Learn more about getting started.
|Sign up with an ELNO||Understand the legal framework|
|At this stage, the only electronic lodgment network operator (ELNO) operating in NSW is Property Exchange Australia (PEXA). Register with PEXA.||There are a number of Acts, rules, requirements, waivers, guidance notes and agreements that, together, govern eConveyancing in NSW and help guide all parties through the process|
How it works
Your lawyer or conveyancer and financial institutions will enter a secure, online workspace where they can interact and transact together online. Within that digital environment, information can automatically feed in from the original source and can populate all documentation while the system cross-checks that information. Documents are created, signed and lodged within the online environment, and parties complete all necessary steps to settle the transaction within that online environment.
Finding a lawyer or conveyancer who offers eConveyancing
At this stage, PEXA is the only electronic lodgment network operator (ELNO) in NSW. As the reforms move forward, we expect more ELNOs will join the market.
Those who would normally lodge paper documents in person without formal legal representation will need to consult a lawyer or conveyancer who offers eConveyancing from 1 July 2018.
Timeline for transition
The NSW government has set a timeline for the transition to eConveyancing to help everyone plan and embrace the change.
We are now at a midpoint along the timeline, with further transactions to be made mandatory from 1 July 2018 ahead of the transition to digital conveyancing for all mainstream property transactions from 1 July 2019.
Getting started sooner rather than later
Today, people expect to manage their lives around technology and enjoy all the benefits that come with it – greater access, fewer errors and more transparency. It is critical for every industry to keep pace with this transformation.
Stepping up to change and getting on board with eConveyancing sooner rather than later will ensure a smoother transition, allowing you to plan, get the right support and maximise the opportunities that eConveyancing brings.
The Office of the Registrar General is working with you during this change, by conducting workshops and providing information to help you get started and make a complete transition to eConveyancing.