E-conveyancing arrives in Western Australia
18 June 2014
The first land transaction document was electronically processed today in Western Australia, signalling a new era in the State's land transaction and conveyancing processes.
The online transaction was witnessed by Minister for Lands Terry Redman, Landgate's Chief Executive Mike Bradford and Chairman Geoffrey Hick, WA Registrar of Titles Jean Villani and Property Exchange Australia Ltd (PEXA) Chief Executive Officer Marcus Price.
Mr Bradford said the introduction of e-conveyancing is an important milestone that embraces new technology and has significant benefits for the conveyancing sector.
"For nearly 140 years, Western Australia's conveyancers have been using a paper-based system to lodge land documents with WA's Titles Registry," Mr Bradford said.
"Today we see the opportunity for Banks to lodge land documents in WA using the electronic system, the result of which has been a collaborative effort between Landgate, PEXA and a number of key industry bodies."
From today major banks will be able to lodge new mortgages and discharges with Landgate using PEXA. This will be expanded from May 2015 to include transfers of land, caveats and withdrawals of caveat by licensed settlement agents and legal practitioners, approved to use PEXA.
WA Registrar of Titles Jean Villani said e-conveyancing will benefit the State's property sector as it removes many of the constraints around current paper-based processes.
"Through PEXA, the first national electronic lodgement platform, information is pre-populated directly from WA's Titles Registry, which minimises errors and provides conveyancers with the flexibility to complete settlements without delay on any nominated date – ensuring that buyers and sellers can be confident in knowing their settlement is going to be finalised," Ms Villani said.
Landgate will continue to maintain WA's Land Registry and provide all current services for the lodgement, processing and examination of paper-based registry documents at its Perth CBD, Midland and Bunbury offices.
The launch of e-conveyancing in WA reaffirms the State Government's commitment to the Council of Australian Governments' reform agenda to achieve a 'seamless national economy'.
Notes to editors
Landgate is Western Australia's primary source of land information and geographic data, providing the accuracy Government, business and individuals rely on.
Contact: Phillip Rowell, A/Manager Communications and Media Advisor
Contact: Alison Martyn, A/Strategic Communications Advisor