Mandatory Electronic Conveyancing in Queensland

The conveyancing industry is in the midst of a digital revolution with the eradication of paper and manual settlements and the evolution of electronic settlement platforms.

Since the pandemic and social-distancing requisites, electronic conveyancing (eConveyancing) has become even more relevant as it enables parties to complete transactions without having to be physically present in the same location.

Pursuant to the Land Title Regulation 2022, eConveyancing became mandatory in Queensland for certain land title transactions on 20 February 2023. The mandate brought Queensland into line with the mandatory requirements already implemented in New South Wales, Victoria, South Australia and Western Australia.

What is eConveyancing?

eConveyancing is the use of an online platform to conduct property settlements. The eConveyancing platform facilitates the preparation, execution and lodgement of land title documents electronically and enables financial settlements to take place digitally through the electronic transfer of funds. The two currently approved Electronic Lodgement Network Operators (ELNOs) are PEXA and Sympli.

What does the mandate mean?

Subject to certain exceptions, electronic settlement will be compulsory for all dealings and documents that are approved for electronic conveyancing.

Compulsory dealings include:

1. transfers;
2. mortgages and releases of mortgage;
3. caveats and withdrawals of caveats;
4. priority notices and requests to extend or withdraw a priority notice; and
5. an application to be registered as a personal representative for a registered owner of a lot who has passed away.

Lawyers are obliged to comply with strict client verification of identity (VOI) requirements to successfully transact an electronic settlement for their client. It is therefore imperative that those persons buying and selling property to have the right original identification required to satisfy the VOI requirements. Failure to do so may result in the inability of a lawyer to transact on their client’s behalf. The most commonly accepted combinations of identification are:

1. Driver’s licence and passport;
2. Driver’s licence, Medicare card and birth certificate;
3. A passport, Medicare card and birth certificate.

A marriage certificate is also required where there is a change of surname.

Benefits of eConveyancing

Not only does eConveyancing enable parties to complete a transaction without leaving their workplace or home office, but it also:

• Improves administrative efficiencies: electronic lodgement with the relevant title registry occurs immediately and therefore, can reduce processing delays;
• Increases accuracy: the ELNO generates and verifies title information on the creation of a settlement, reducing the chance of human error;
• Potentially reduces costs: costs involved with a physical settlement, such as drawing/banking cheques and organising physical attendance on behalf of all parties, are eliminated (there is however a fee payable to participate in an electronic settlement); and
• Provides increased security and certainty: digital settlement allows funds to be transferred securely by electronic funds transfer and alleviates the stress involved in handling bank cheques.

Wallace & Wallace Lawyers are subscribed to PEXA and the majority of our property settlements occur through eConveyancing. If you have any queries regarding eConveyancing or require assistance with a purchase or sale of property, please contact our experienced Commercial and Conveyancing team on (07) 4963 2000 or via the contact form below.