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Tuesday, March 21 2017
It seems that the days of paper title deeds are numbered. While the use of e-Conveyancing is currently optional, the New South Wales Government recently announced that the transition from paper conveyancing to electronic conveyancing is expected to be completed by July 2019. This means an owner of a property will no longer have a physical title deed for their property, instead details of the property will be stored electronically at the Land Titles Office. Solicitors, Conveyancers and Banks will no longer need to meet to effect a settlement when a property changes hands. Instead, they will come together online in a virtual meeting room making the conveyancing process more streamlined. |
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By July 2019, all standard New South Wales property conveyances will be conducted electronically.