NSW Electronic Conveyancing Update
Electronic conveyancing (eConveyancing) is set to replace many of the paper and manual processes involved in property transactions with secure online processes.
The transition to eConveyancing is mandated by the NSW Government and they, via the Office of the Registrar General, have set a timeline for the implementation of eConveyancing in NSW.
The eConveyancing platform is managed by Property Exchange Australia (PEXA), currently the only Electronic Lodgment Network Operator (ELNO), and new features and updates are regularly being added which improve and expedite property transactions online.
To get started with eConveyancing, you will need to register with PEXA.
Part Tenancy Transfer (Unrepresented Party)
From 21 May 2018, you can lodge a transfer for part tenancy e.g. A and B as tenants in common in equal shares. B wishes to transfer a ½ of his share to C.
National mortgage with name justification
In mortgages where the Mortgagor’s name differs from the name recorded on title, you can now use a National Mortgage Form to justify the discrepancy.
For the list of dealings requiring mandatory electronic lodgment, see Rule 8 in Conveyancing Rules – Section 12E Real Property Act 1900.
For all the new features introduced in Release 8.0 please refer to PEXA’s Product Releases information page.