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; and
3. 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 additional amendments such as:
- Authority for Licensed Settlement Agents to sign paper Transfers of Land. The authority to sign paper transfers would relate to both Lawyers and Settlement agents and create a national alignment with other jurisdictions
- Authorised witnesses to overseas documents. Currently there is a mis-alignment between the witnessing and identification requirements for parties to paper transactions and the identification requirements for parties to electronic transactions.
Source:6th December 2018 AICWA e-Newsletter