Electronic Conveyancing project begins 1 September 2011 – By Claire McLachlan – Property Paralegal
With the design phase of Australia’s e-conveyancing system due to be finalised by March 2012, e-conveyancing may be here sooner than you think!
Accenture and NECD Limited have signed the master agreement, appointing Accenture to design, build, test and deploy Australia’s National e-conveyancing system, which will be called PEXA (Property Exchange Australia).
Australia’s four major banks have signed conditional subscription and shareholders agreements to become shareholders of NEXDL and provide seed funding for the first development phase of the e-conveyancing platform.
It is expected that PEXA will commence commercial operation in early 2013.
Attwood Marshall Lawyers are excited about the prospect of the Conveyancing process becoming completely electronic and furthering our efforts to have a paper-less office.
Information taken from http://www.nationaleconveyancing.com.au/newsandupdates
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