Queensland is following the lead of Victoria, New South Wales, Western Australia and South Australia in mandating e-conveyancing for land title transactions. The state’s new Land Title Regulation will take in February next year. Documents that must be lodged though an electronic lodgement network include: an instrument of transfer; an instrument of mortgage; an instrument releasing a mortgage; a caveat for a lot; and a request to withdraw a caveat over a lot.
There are a number of exemptions to allow for a lack of functionality in the system.
At the moment, the only fully operational electronic lodgement network is PEXA, although Sympli Australia is an approved operator in Queensland.
Law firm Holding Redlich estimates that there is already widespread use of e-conveyancing in the state. In a note to clients, it said more than 70 per cent of all relevant titling transactions were finalised through e-conveyancing.