Conveyancing Rules Version 5
Version 5 of the Conveyancing Rules will replace Version 4 on 1 July 2019
The Rules are being released for public consultation. We value your comments and are calling for submissions by Friday, 3 May 2019.
Fulfilling the Government’s mandated timeframe to transition to eConveyancing in NSW by 1 July 2019, Version 5 of the Conveyancing Rules (‘the Rules’) brings a number of changes that make it mandatory for certain transactions to be lodged electronically. A summary of the new rules is provided below:
Lodgment of dealings from 1 July 2019
The following must be lodged electronically (if eligible to be lodged electronically) whether standalone, or in combination:
- Mortgages (including mortgages with justification)
- Discharges of mortgage
- Withdrawals of caveat
- Transmission applications
Lodgment of dealings from 1 July 2020
New Rule 8.8 makes it mandatory that from 1 July 2020 all dealings that are available electronically, must be lodged electronically.
How will the changes in the Rules affect me?
The changes in the Rules means that 1 July 2019 a person cannot do their own conveyancing and will need to engage a conveyancer or lawyer to buy, sell or deal with property. The Registrar General intends to continue to allow unrepresented parties to continue to lodge caveats and withdrawals of caveat in paper until 1 July 2020.
For conveyancers and lawyers, the typical conveyance which consists of the combination of mortgage, and/or discharge of mortgage and transfer will all be required to be lodged electronically. The Registrar General will also remove various waivers and exclusions as at 1 July 2019. See the Circular for more information. Also, transmission applications and withdrawals of caveat are mandatory to be lodged electronically from 1 July 2019.
Will the new mandates affect dealings dated before 1 July 2019?
No. The mandates that applied when the dealing was signed will continue to apply regardless of the date of lodgment.
A detailed summary of the changes both to the Rules, and to the waivers and exclusions of the Rules are available in the accompanying Circular.
Anyone wanting to comment on Version 5 of the Rules can send a written submission to email@example.com