Conveyancing Rules Version 6 and waivers revocation are now published
Version 6 of the Conveyancing Rules (Rules) will replace Version 5 on 11 October 2021. The Rules and remade Schedule 1 Conveyancing Rules (COVID-19 Pandemic) Amendment (that also commences on 11 October 2021) are now published on the Conveyancing rules page on our website.
Also, from 11 October 2021 those Conveyancing Rules waivers that currently allow for paper lodgments will be revoked. The Revocation of Conveyancing Rules Waivers Instrument is available on our Conveyancing rules waivers page.
Key changes
Version 6 of the Rules introduces changes that reflect the new position NSW will be in on 11 October 2021 with the cancellation of both Certificates of Title (CTs) and the Control of the Right to Deal (CoRD) framework, and the requirement for 100% eConveyancing.
A summary of the main changes is provided below:
Mandatory electronic lodgment of all dealings, caveats and priority notices
Rule 8.8 is updated to require that from 11 October 2021, all dealings, caveats and priority notices must be lodged using an Electronic Lodgment Network, irrespective of the date they were signed. Paper dealings will no longer be accepted for lodgment.
Removal of redundant requirements and terms
Any requirements with respect to CTs or CoRD are removed as they are no longer necessary post 11 October 2021. General changes are also made to reflect the amendments to the Real Property Act 1900 by the Real Property Amendment (Certificates of Title) Act 2021 that commence on 11 October 2021.
How will the changes in the Rules affect me?
The changes in the Rules mean that on and from 11 October 2021, a person will need to engage a conveyancer or lawyer who is a Subscriber to an Electronic Lodgment Network Operator to buy, sell or deal with property. There are no transitional arrangements for the changes.
Will these changes affect transactions that are scheduled to settle or dealings that will be lodged before 11 October 2021?
No. Version 5 of the Conveyancing Rules will continue to apply up to and including 10 October 2021.
Enquires can be made via email to [email protected].