National Electronic Conveyancing (e-conveyancing)
South Australia is committed to the implementation of the National Electronic Conveyancing (NEC) initiative which provides a single system for online completion of real property transactions and lodging land title dealings throughout Australia. The NEC last was drafted in 2012 as the basis for a national scheme for the electronic signing and lodgement of registry documents (e-conveyancing).
The push for e-Conveyancing has arisen from 4 major concerns about the conveyancing industry:
Technology and automation has led to the creation of an online platform to conduct land transactions to streamline an antiquated process. In 2008, the Council of Australian Governments placed e-conveyancing on their agenda, and Property Exchange Australia Ltd (PEXA) was formed as the national online platform for e-conveyancing.
NEC allows the land services industry to:
- collect, check and verify the completeness and compliance of transaction information;
- prepare instruments and reports to register changes in property ownership and interests;
- settle financial transactions, including payment of duties, taxes and disbursements;
- comply with the tax and duty requirements of revenue offices; and
- lodge instruments with land registries and receive confirmation of their lodgement and registration.
NB: Although Independent Civil Conveyancing conducts electronic conveyancing, we will not conduct the settlement online without the consent of both parties.
- Creating and signing documents
- Transacting with the LTO
- Processing settlement and lodgement
- Inviting others to join
- Working and communicating within the secure space.