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Land Use Victoria timeline for transition to 100% digital lodgement

Land Use Victoria timeline for transition to 100% digital lodgement

By Property and Environmental Law Section

Caveats Conveyancing Real Property 

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In March 2017, Land Use Victoria indicated the following timelines for the transition are as follows:

2017

26 May:

  • National Mortgage Form to be implemented (although this has now been deferred to 10 June 2017 for electronic lodgement of the National Mortgage Form in Victoria).
  • Client Authorisations required for paper conveyancing.
  • Certifications required for paper conveyancing, including those for mortgages under section 74(1A) of the Transfer of Land Act 1958.
  • There will be a transition period for implementation of the National Mortgage Form, Client Authorisations and certifications from 26 May to 31 December.

July:

  • A second bulk conversion of paper Certificates of Title to electronic Certificates of Title (eCT) will be undertaken.  This will involve paper Certificates of Title held by authorised deposit-taking institutions (ADIs) other than the four major banks (ANZ, CBA, NAB, Westpac and their brands).  Please note that conversion of paper Certificates of Title held by the four major banks was undertaken in October 2016.

1 August:

  • Commercial mortgages, refinance transactions (including commercial mortgages) to be lodged electronically where the mortgagee(s) is an ADI.  This requirement applies to ADIs and conveyancers and lawyers acting for an ADI.

November:

  • Survivorship applications, transmission applications and change of name functionality will be available in PEXA.

1 December:

  • Standalone caveats and withdrawals of caveat to be lodged electronically. This requirement applies to PEXA subscribers, and conveyancers and lawyers acting for a party or for themselves and PEXA Subscribers.
  • Non-ADI standalone discharges of mortgage, standalone mortgages and refinance transactions are to be lodged electronically. This requirement applies to conveyancers and lawyers acting for a non-ADI and non-ADIs who are PEXA Subscribers.

2018

1 January:

  • Transition period for mortgage (NMF), Client Authorisations and certifications ends.

1 March:

  • All survivorship applications, transmission applications and standalone transfers must be lodged electronically. This requirement applies to conveyancers and lawyers acting for a party or themselves and PEXA Subscribers.

1 October:

  • All combinations of transactions available in PEXA to be lodged electronically.  For example, a case comprising a withdrawal of caveat, discharge of mortgage, transfer and mortgage. This requirement applies to conveyancers and lawyers acting for a party or themselves and PEXA Subscribers.

2019

1 August:

  • All transactions to be lodged electronically. This requirement applies to conveyancers and lawyers acting for a party or themselves and PEXA Subscribers.

The exception will be when there is an existing paper instrument that has been signed prior to the date when electronic lodgement of that particular class of instrument or transaction is required.

Contact

LIV Ethics & Professional Practice Department

T: 9607 9378

Property and Environmental Law Section

E: property&environment@liv.asn.au
T: 9607 9522


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