Queensland is following the path of other Australian states in mandating electronic conveyancing. From 20 February 2023, Titles Queensland has mandated that certain types of instruments and documents must be lodged through an Electronic Lodgment Network (ELN) unless an exemption applies.
Meaning of ‘required instruments’ and exemptions
As detailed under section 5 of the Land Title Regulation 2022, “a required instrument must be lodged or deposited using an Electronic Lodgment Network if it is an instrument or document that may be lodged electronically under the Electronic Conveyancing National Law (Queensland), section 7.” You can view a list of the ‘required instruments’ under section 4 of the Land Title Regulation here.
Section 5.2 provides some clarity around several exemptions to lodging a Required Instrument using an ELN.
The uptake and benefits of electronic conveyancing
Electronic settlements first entered the legal and conveyancing scene in 2010. However, at the time, the incentive to change from well-known manual practises was lacking. Without mandates in play, this change simply introduced more challenges to firms in terms of staff training and process changes.
Since then, the Australian legal and conveyancing industry has made good progress with technology adoption in conveyancing. Key drivers have been the obligation to meet e-conveyancing mandates, settlement efficiency gains and in more recent times, to overcome lockdown restrictions during COVID-19.
As more states across Australia begin to align and mandate electronic conveyancing, more conveyancers are realising the benefits of transitioning to an online way of working, being:
- A more accurate, convenient, and efficient lodgment process, for all parties involved
- Ease of use as all documentation is digital, reducing piles of paperwork
- A quicker process overall to reach a final sale, which keeps vendors happy
- Higher levels of security as all transactions are conducted online, with receipt of all online transactions
- Greater levels of transparency across the whole process, with parties being kept in the loop with progress through regular notifications.
However, shifting to electronic doesn’t only benefit conveyancers. For all the same reasons outlined above, eConveyancing benefits all parties involved in a property transaction – from financial institutions right through to the vendor.
How InfoTrack support the profession through this transition
Whilst this mandate has been on the horizon for a while, the shift to electronic conveyancing can still take some firms by surprise. When the NSW electronic conveyancing mandate came into play in October 2021, many firms had to quickly pivot. Mary Antony, Legal Practitioner and Principal at Antonys Lawyers, and Joy Jadeja, Solicitor at Westside Legal were just one of many firms who took this as an opportunity to seek outsourcing solutions for their settlement and lodgments; and they haven’t looked back.
“As a result of the NSW electronic conveyancing changes in 2021, we further explored the support services available which could help reduce our administrative workload, whilst maintaining the professionalism of work which we pride ourselves in. For us, this included utilising the services offered by SettleIT,” said Joy.
Mary Antony similarly sought the services of SettleIT, and has continued partnering with the solution for their electronic conveyancing matters.
“SettleIT’s efficiency in conducting the whole process, despite complications that arise from my client’s matters, always makes the process so much easier. The team always takes any issues in their stride and makes easy work of what, in my case, can be complicated matters. I do not know what I would do without SettleIT’s assistance,” said Mary.Reach out to SettleIT to take the weight of electronic settlements off your hands and start your transition to electronic conveyancing.
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