New single-party eLease available
From 6 February 2021 a new single-party electronic lease (eLease) dealing form will be available through Property Exchange Australia (PEXA). The new version of the eLease will replace the existing two-party eLease.
The new single-party eLease was developed in response to industry feedback that the lessee should not be required to be represented in the electronic workspace. The Office of the Registrar General has worked with the NSW Law Society, NSW Land Registry Services (NSW LRS), and PEXA to develop the new eLease.
Key improvements include:
- A requirement for only the lessor to be represented in the workspace
- A requirement for subscribers to obtain and attach a lease signed by or on behalf of a person purporting to be the lessee
Please note that any workspaces open before 6 February 2021 using the current two-party eLease dealing form will remain open, and will need to be lodged with NSW Land Registry Services within six months.
For more information on how to complete the new eLease please see the Registrar General’s Guideline for this e-Dealing.
You can also find further guidance and answers to Frequently Asked Questions (FAQs) on the NSW LRS website.