What is Electronic Conveyancing?
The Victorian Department of Sustainability and Environment (DSE), through the Victorian Land Registry, maintains the Register of land dealings in Victoria. Traditionally, changes to the Register occur after paper documents (such as discharges of mortgage, transfers and mortgages) are lodged with the Land Registry. Normally, this follows a settlement where bank cheques are handed over in return for the paper documents reflecting the changed interests in the land. The DSE now provides an alternative to this traditional process known as the Electronic Conveyancing (or EC) System. The EC System (operated by Land Exchange) provides an efficient and secure electronic environment for settling land transactions, paying duty and lodging the documents with the Land Registry. What happens to the paper documents usually used for a transaction? In the EC System the paper documents used in the traditional process are replaced with electronic equivalents. Subscribers approved by the Land Registry (ty
Related Questions
- When will the paper Certificate of Title be issued? A paper Certificate of Title can be issued on registration using the electronic conveyancing system if requested by the subscriber.
- How much does it cost to enroll an rcbc savings corporate account for enterprise/online banking?
- What is Electronic Conveyancing?
