Conveyancing in New South Wales has, since 1 July 2019, been radically changed. This is due to the introduction of electronic conveyancing.
No longer is it possible to transact the transfer of land by the physical production of documentation at what used to be called a “settlement” but, rather, such conveyancing will generally be undertaken through an electronic platform such as PEXA.
The use of PEXA is complicated and can prove difficult for anyone unfamiliar with the process. Whilst contracts for sale and purchase continue to be physically exchanged and other aspects of conveyancing such as issuing requisitions on title have not changed, the interface between the transferor’s and transferee’s solicitors and the discharging and incoming mortgagees (usually banks) is now all undertaken on-line.
At Dimocks Family Lawyers, James and Daniel are fully qualified to operate PEXA and undertake conveyances through this platform.