Paperless conveyancing future

The NSW Government is accelerating the transition from paper certificates of title in NSW to electronic conveyancing. Minister for Finance, Services and Property Dominic Perrottet said that e-conveyancing has the potential to reduce settlement delays, eliminate reams of unnecessary paperwork, and deliver around $ million in savings to citizens, businesses and government.
 
Across Australia, Victoria, Western Australia and South Australia have all recently announced transitions to digital conveyancing.

E-conveyancing was first introduced to NSW in 2014. Since then both paper-based and electronic channels for conveyancing have continued to operate. The NSW Government plans to phase out paper-based conveyancing over the coming years. 

The first step, which follows moves announced in Victoria and Western Australia, is the requirement by March 2017 for financial institutions to lodge certain mortgages and discharges of mortgage via the national e-conveyancing platform.  The issuing of paper certificates of title to banks will be phased out in that time as well. 

The Government will consult with financial institutions, legal practitioners, conveyancers and other stakeholders to develop a pathway to phase out paper-based conveyances by 2019.

To read the media release click here.