Navigating NSW’s transition to 100% eConveyancing with Chamberlains

Navigating NSW’s transition to 100% eConveyancing with Chamberlains

Article Summary

 

• As NSW transitions to 100% eConveyancing, lodgement will become more convenient and transparent.
• In the meantime, confusion may arise between Residual documents and interim online paper lodgment – Chamberlains can guide you.
• As NSW becomes fully electronic, subscriber responsibilities will shift, making compliance essential.

As NSW transitions to 100% electronic dealings and eConveyancing, there are many changes occurring that subscribers must be aware of. In the milieu of Covid-19, there have been many delays to eConveyancing and the release of residual documents, as well as confusion surrounding the interim process of paper lodgments online due to the state-wide lockdown. Chamberlains is across such issues and here to help you navigate these next stages in the eConveyancing transition.

NSW transition to eConveyancing

As announced by the NSW Land Registry Services on 10th May 2021, the NSW property industry is seeing extensive changes in the transition to digital property transactions. The goal is to see the elimination of paper dealings by the end of this year, marking a change to the working and compliance procedures for practitioners. The transition to electronic paper dealings has occurred in stages. Originally, the aim was to be 100% electronic by August 2021 but this has been extended to 11 October 2021, with two significant changes:

• Certificates of Title (CT) and the control of the right to deal (CoRD) framework will be cancelled
• A move to all land dealings having to be lodged electronically (“100% eConveyancing”)

The cancellation of CT’s will occur on 11 October 2021, known as “cessation day”. Under the Real Property Act 1900, from cessation day all CT’s will have no legal effect, and no more CT’s will be issued. CoRD will also no longer be issued to ADIs, removing the requirement for CoRD holder consent, though mortgagee consent will still be needed for certain dealings. These changes alter multi-party workspace requirements in PEXA, consent processes, and physical title usage at NSW LRS. Benefits include faster registration, seamless transactions, electronic requisitions, reduced manual steps and greater transparency.

Residual documents and lodging paper documents during Covid-19

Residual documents are a large collection of documents that previously had to be lodged in paper. They are structured with data elements that contain information recorded on the Register, improving technical functionality of NSW LRS and ELNOs. Major changes have been introduced in three stages, beginning 22 March 2021, with remaining stages commencing 11 October 2021.

Chamberlains can lodge mainstream and other dealings electronically, including Caveats, Mortgages, Transfers, Transmission Applications, Leases, Priority Notices and more.

How Chamberlains can assist you

As electronic dealings reach their mandated date, demand for Sydney & Newcastle conveyancers and solicitors will rise, as consumers are required to use an ELNO subscriber. Chamberlains’ Sydney conveyancers navigate these requirements and ensure compliance with ARNECC rules, including proper VOI, confirmation of Right to Deal, and obtaining the correct authorities.

We can provide a full list of available residual documents and those mandated from October. We can also lodge paper documents online during Covid-19 restrictions.