Department of Customer Service
The NSW Government’s plan to transition conveyancing into the digital age will culminate on 11 October 2021 with the commencement of new legislation that will allow for 100% electronic lodgment of land transactions, moving away from paper-based processes.
The Real Property Amendment (Certificates of Title) Act 2021 makes several amendments to legislation, importantly allowing for the abolition of certificates of title (CTs) and progressing NSW to 100% eConveyancing.
The Registrar General has announced the abolition date for paper CTs as 11 October 2021. Implementation of the Act on the same date will allow the NSW Government to close the last of the remaining paper lodgement channels so that all transactions requiring registration must be done via eConveyancing.
Certificates of title on their way out: Abolition date announced realestatebusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from realestatebusiness.com.au Daily Mail and Mail on Sunday newspapers.
PEXA gets certainty in $240 million e-conveyancing market
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Policymakers and PEXA have agreed on rules that will let new e-conveyancing companies offer services as early as this year and also give incumbent PEXA crucial certainty about its operating model and future profitability.
After heated debate in which competition tsar Rod Sims threatened to cut PEXAâs prices if it did not fall into line with a competition model backed by regulators and state governments, policymakers, who softened their opposition to it in December have now accepted the platformâs own suggestion to boost competition in the medium term.
Faster push to a competitive market: Victor Dominello.Â