eConveyancing to Become Compulsory in Queensland From February 2023

Electronic conveyancing, or eConveyancing, has been used in Queensland for some years to effect the sale and purchase of land, as well as other property transactions like refinancing.

Whilst used for a number of years, up until now eConveyancing has been optional. However, from 20 February 2023 onwards, eConveyancing will be mandatory in Queensland. This move to mandatory eConveyancing is expected to increase efficiency, reduce the risk of fraud and errors, and streamline the conveyancing process.

Key Requirements under the Mandatory eConveyancing regime in queensland

Under this new mandatory eConveyancing regime, documents for property transactions must be digitally prepared, signed, settled, and lodged by a subscriber using an Electronic Lodgement Network (ELN), unless a recognised exemption applies.

Examples of the impacted documents that must be filed electronically include transfers, mortgages, caveats, priority notices, and transmissions by death.

Secondary interests in land, like a lease, and any interests in water allocations are not covered by the mandate and will not have to be reported through an ELN.

Also, a property transaction that has been signed by a party before February 20, 2023 can still be paper lodged.

The required documents can be lodged by subscribers to either of the two approved ELN operators in Queensland, being Property Exchange Australia (better known as PEXA) Limited and Sympli Australia Pty Ltd.

Benefits Of EConveyancing

eConveyancing replaces many of the paper and manual processes that were traditionally used in property transactions, such as having paper forms prepared and signed by the parties and needing to attend the Queensland titles office to lodge documents.

Some of the benefits are: