Bill for cheaper con­veyanc­ing for Queens­lan­ders

Central and North Burnett Times - - SOCIALS -

MEM­BER for Cal­lide Jeff Seeney has wel­comed the State Government’s moves to make con­veyanc­ing more af­ford­able for Queens­lan­ders.

Mr Seeney said leg­is­la­tion to join a na­tional elec­tronic con­veyanc­ing sys­tem was in­tro­duced into State Par­lia­ment re­cently.

“The Elec­tronic Con­veyanc­ing Na­tional Law (Queens­land) Bill 2012 will bring ben­e­fits to Queens­land busi­nesses and the pub­lic,” Mr Seeney said.

“This Bill will al­low Queens­lan­ders to ben­e­fit from par­tic­i­pat­ing in a na­tional elec­tronic con­veyanc­ing sys­tem, and will en­sure they en­joy lower costs and more cer­tainty that set­tle­ment will take place as sched­uled.

“In some cases set­tle­ment de­lays can re­sult in the for­fei­ture of de­posits, but e-con­veyanc­ing avoids de­lays in set­tle­ment due to er­rors in doc­u­men­ta­tion, sav­ing time, in­con­ve­nience and ad­di­tional costs of re­moval, stor­age and ac­com­mo­da­tion.

“The costs for so­lic­i­tors and fi­nan­cial in­sti­tu­tions to use the elec­tronic lodge­ment net­work will be less than the cost of ex­ist­ing charges such as bank che­ques and fees for couri­ers and set­tle­ment agents.” an­other state or ter­ri­tory. “The new e-con­veyanc­ing sys­tem in­volves an on­line hub’ which can be used through­out Aus­tralia to cre­ate land ti­tling doc­u­ments, such as mort­gages, and dig­i­tally lodge them into the ap­pro­pri­ate land reg­istry in any state and the North­ern Ter­ri­tory.”

Min­is­ter for Nat­u­ral Re­sources and Mines, An­drew Cripps, said the sys­tem will also cater for the elec­tronic fi­nan­cial set­tle­ment of con­veyanc­ing trans­ac­tions and pay­ment of as­so­ci­ated state du­ties and lodge­ment fees.

“Queens­land’s leg­is­la­tion mir­rors that of New South Wales, which has been es­tab­lished as the host ju­ris­dic­tion with other par­tic­i­pat­ing states and the North­ern Ter­ri­tory adopt­ing na­tion­ally con­sis­tent leg­is­la­tion,” he said.

“The pro­posed leg­is­la­tion does not change Queens­land’s sub­stan­tive land laws as the sys­tem re­lates only to the set­tle­ment and lodge­ment as­pects of con­veyanc­ing.

“Use of the sys­tem will be com­pletely vol­un­tary and the pa­per­based process for con­veyanc­ing trans­ac­tions will con­tinue to be avail­able.

“Na­tional e-con­veyanc­ing will be im­ple­mented grad­u­ally, com­menc­ing in Vic­to­ria in about April 2013 and is ex­pected to be avail­able in Queens­land in late 2013.”

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