Latest Property News Electronic conveyancing gets the green light

April 4, 2008 - PRLog -- After months of deliberation, the Standing Committee of Attorneys General (SCAG) has agreed to recommend the implementation of a nationwide electronic conveyancing system.

The system, which has been piloted successfully in Victoria for the past few years, is expected to support faster, more efficient property settlements, particularly by cutting out a lot of the red tape between the eight different systems across the states and territories.

Where previously all parties concerned in a transaction would have to come together and papers be shuffled back and forth, the system will allow land title work to be completed online.

Announcing the decision this week, federal Attorney-General Robert McClelland said that the attorneys general also agreed to assist in developing model legislation to underpin a national system.

"We will now work to develop an appropriate corporate structure for moving a national electronic conveyancing system forward."

Final approval of the plan lies with the Council of Australian Governments (COAG).

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