Peter Speakman & Co is a PEXA-registered law firm and we are able to act for you in all electronic conveyancing transactions including registration of transfers and settlements in the purchase and sale of property, registration of mortgages and discharges of mortgage, caveats and withdrawal of caveats, survivorship applications and transmission applications.
PEXA is an electronic conveyancing platform and, at the time of writing, is Australia’s only official online property exchange.
All survivorship applications, transmission applications and standalone transfers must now be lodged at the Land Titles Office electronically through PEXA. In August 2019 all transactions must be lodged at the Land Titles Office electronically through PEXA.
The Land Titles Office undertook a bulk conversion of all Paper Certificates of Titles held by the four major banks in October 2016. In July 2017 a second bulk conversion was undertaken of Paper Certificates of Title held by authorised deposit-taking institutions (ADIs).
Advantages of electronic conveyancing:
- Electronic conveyancing provides greater certainty because it removes a lot of the opportunities for errors afforded by manual Conveyancing.
- Clients sign a Client Authorisation Form enabling their lawyer to complete all other documents, signing electronically on your behalf.
- Party’s representatives no longer need to physically attend settlements.
- Settlements are more likely to occur on time.
- Lodgement of transaction documents occurs instantly.
- The need for bank cheques is removed.
- Online settlement through PEXA means that sale proceeds are processed as cleared funds to your nominated account(s).
As more and more lawyers and conveyancers register with PEXA the option of conducting conveyancing electronically improves.
For more information please contact our friendly and professional team at Peter Speakman & Co on 9822 8611