All You Need to Know about e-Conveyancing
What is e-Conveyancing/Electronic Conveyancing?
The term “Electronic Conveyancing” refers to a conveyancing transaction settled electronically through the platform provided by Property Exchange Australia Limited (PEXA).
What e-Conveyancing does?
E-conveyancing is effectively a virtual settlement room that stores the data required for lodgement of dealings at Land Victoria and the transfer of funds at settlement. At a nominated time the funds are transferred and data lodged. It is not involved in the other aspects of the conveyancing transaction.
Why use e-Conveyancing?
e-Conveyancing is currently live in five states and is a collaboration between many industry participants, including financial institutions, Land Registries and the Reserve Bank of Australia (RBA).
PEXA is committed to supporting the property industry as it transitions towards a 100% digital future.