National electronic conveyancing (NEC)
National electronic conveyancing (NEC) provides a single system for online completion of real property transactions and lodging land title dealings throughout Australia.
Electronic Conveyancing allows practitioners and financial institutions to lodge and settle conveyancing transactions in an electronic workspace provided by Property Exchange Australia Ltd (PEXA).
This electronic platform enables parties:
- collect transaction information and have it checked and verified for completeness and compliance
- 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
- lodge instruments with the Lands Titles Office and receive confirmation of their lodgement and registration.
Property Exchange Australia
To find out more, including information on becoming a subscriber in Property Exchange Australia (PEXA) visit www.pexa.com.au.
Electronic conveyancing has been the catalyst for the introduction of significant changes to conveyancing requirements.
The reforms outlined below streamline processes and strengthen the integrity of the conveyancing practice, as e-commerce and an online presence inevitably develops. These reforms apply to documents lodged in paper or electronically.
Verification of Identity
Practitioners are required to take reasonable steps to verify the identity of each party to a conveyancing transaction.
Verification of Authority
Practitioners will not only need to verify the identity of their clients but also verify the client's authority to enter into the conveyancing transaction.
A Client Authorisation is a document whereby a client authorises a practitioner to act on their behalf in a land transaction. Conveyancers or legal practitioners will sign specified instruments on behalf of their client in accordance with the completed Client Authorisation.
A Priority Notice is an administrative notice lodged against a Certificate of Title or Crown Lease to reserve priority for a pending transaction that will affect that land. The notice assists in fraud prevention and improves the accuracy of title searches.
Removal of the Duplicate Certificate of Title
Duplicate Certificates of Title are no longer issued by the Lands Titles Office. The original land title is stored electronically with the Lands Titles Office and copies (required for various building approvals etc) can be purchased online through www.SAILIS.sa.gov.au.
Title Watch Service
Title Watch is a free online subscription service that enables property owners to monitor activity against selected Certificates of Title for a period of twelve months. When an activity is detected the system will automatically trigger an email notification and SMS alert to the subscriber's recorded email address and mobile phone number. Subscriptions are managed online through www.SAILIS.sa.gov.au.
- Property Exchange Australia Limited
- Australian Registrars' National Electronic Conveyancing Council
- Council of Australian Governments
For an alternative version of a document on this page contact Land Services.