Categories for E Conveyancing

Transfer of Land Act brings changes

12/6/2018
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The amendments to the TLA have achieved a second reading in Parliament.This Bill aims to amend three key areas of the Transfer of Land Act 1893 (TLA). It:1. Modifies the definition of counterpart documents to improve the processing of mortgages electronically;2. Enables electronic service of many types of notice under the TLA; and3. Removes duplicate certificates of title from the conveyancing process, resulting in greater ability to conduct land transactions in a fully electronic environment.In its submission to Landgate AICWA called for...

Paper has been superseded with higher security for ELN(e-Settlement)

8/6/2018
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Imagine you are in the biggest city you know, on the busiest street, outside the biggest bank which you notice is surrounded with cameras and not just armed, but heavily armed security guards and some restrained but excited & vicious looking dogs.The Bank doors open, a few moments later, from the secure confines of the building, out walks a petite and cheerful person pushing in front of them a wheelbarrow full of money, out on to the street. You immediately...

Sympli-New e-Settlement Platform on the horizon

31/5/2018
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Sympli – New e-Settlement Platform on the horizonInfoTrack and the ASX Limited have announced the establishment of Sympli, an alternative electronic settlement platform. The new platform is expected to roll out later this year once it has received regulatory approval.For further information see:Today’s press releaseSympli website

Draft ARNECC MOR/MPR

5/5/2018
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AICWA has made its submission to ARNECC in response to Draft Version 5 of the Model Operating Requirements and Model Participation Rules. AICWA’s submission can be viewed in its entirety HEREAICWA is pleased to note that its long held position relating to a lack of consumer pricing protection, as well as support for competition through interoperability have been addressed in the draft version 5 of the MOR, however, we wish to highlight to members our concerns regarding proposed rule “5.6 Separation”....

Millennials are the NOW wave

1/5/2018
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Changing the business mindset from Boomer property consumer to Millennial property consumer, is here, Don’t lose sleep,  this article might be of assistance. By: BekHayes Conveyancers – are you meeting the needs of your Millennial clients? By Bek Hayes, CEO AICSAOne of the largest generations in history is about to move into its prime spending years. Millennials are poised to reshape the economy; their unique experiences will change the way we buy and sell, forcing companies to examine how they do...

AICWA remind that ACCC need to monitor-ARNECC MOR/MPR Version 5.1

10/3/2018
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ARNECC MOR/MPR Version 5.1The AICWA is pleased to again had the opportunity as a key industry stakeholder to make a submission on behalf of its members regarding the draft versions of the MPR and MOR. The revised drafts raise some significant concerns in particular Rules 5.6 to 5.6.5 which limits ARNECC’s ability to regulate the behaviours of an ELNO that may have significant advantage from being the only platform or having derived significant market share from having benefited from various...