Transfer of Land Act brings changes

6/12/2018
Written by

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.

The Bill can be viewed HERE
Marked-up TLA can be viewed HERE
The Explanatory Memorandum can be viewed HERE

Source:6th December 2018 AICWA e-Newsletter

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