Electronic conveyancing is becoming the norm in Australia, with Queensland the latest state to announce mandated electronic conveyancing from February 20, 2023.
Titles Queensland has announced that it will be mandatory for certain types of instruments and documents to be lodged through an Electronic Lodgement Network (ELN).
This mandate brings Queensland in line with New South Wales, Victoria, South Australia, and Western Australia, meaning that the majority of Australia has shifted to modern e-conveyancing practises. Victoria was the first Australian state to mandate electronic conveyancing in October of 2018, followed closely by Western Australia in December of the same year. New South Wales followed suit, mandating in July of 2019, and more recently, South Australia in late 2020.
Throughout these states mandating e-conveyancing, InfoTrack has supported practitioners adapt to electronic processes by developing innovative solutions to ensure an easy transition. This widespread shift to e-conveyancing has many benefits for property professionals. Processes are streamlined and quicker, as there is no need to print, scan, or post physical documents.
Although there are many advantages, transitioning your business to modern technology can be challenging. In a survey led by InfoTrack, we uncovered that practitioners who conduct manual settlements do so for a few purposes. Responses were equally split across four reasons including preference to settle manually, privacy and security concerns, no state mandate implemented, and no expertise in the firm to conduct e-settlements.
As the leading innovators in legal technology, InfoTrack are committed to providing solutions that meet the needs of the industry and support your firm in making the switch as seamlessly as possible.
If you operate in Queensland and need support in transitioning to e-settlements, SettleIT can support your firm. SettleIT, powered by InfoTrack, is a flexible solution that enables you to outsource the lodgment of registry document and settlements, both electronic and manual, Australia wide.
Using SettleIT means there is no need for your firm to register with or be trained to use ELN platforms. SettleIT allows practitioners unfamiliar with the online process to continue taking on property matters without the hassle of purchasing or learning modern technology, or to simply outsource property matters during busy periods. SettleIT offers access to a wide range of trusted agents throughout Australia to support your firm. Reach out to the SettleIT team today to be prepared for the February mandate.
