CON­VEYANC­ING RULES EX­TEN­SION

Weekend Courier - - Wafl -

THE con­veyanc­ing in­dus­try has been granted an ex­ten­sion to pre­pare for elec­tronic trans­ac­tions.

The re­quire­ment to elec­tron­i­cally lodge cer­tain doc­u­ments dur­ing prop­erty set­tle­ment was due to come into ef­fect on May 1, but has been ex­tended un­til De­cem­ber 1.

Lands Min­is­ter Rita Saf­fi­oti said the de­ci­sion would pro­vide the in­dus­try, in­clud­ing set­tle­ment agents and lawyers, with more time to pre­pare for the tran­si­tion to elec­tronic con­veyanc­ing.

Many in­dus­try mem­bers are al­ready us­ing elec­tronic con­veyanc­ing, with more than half of el­i­gi­ble doc­u­ments be­ing trans­acted elec­tron­i­cally, but some re­quire more time to en­sure a smooth con­ver­sion.

Ms Saf­fi­oti said elec­tronic con­veyanc­ing will en­sure the State main­tains best prac­tice sys­tems, which pro­vide su­pe­rior pro­tec­tion of West Aus­tralians’ prop­erty as­sets from fraud while meet­ing con­sumer ex­pec­ta­tions around the ease and ef­fi­ciency of on­line trans­ac­tions.

“Elec­tronic con­veyanc­ing is the sim­plest, fastest and safest way to con­duct prop­erty trans­ac­tions within the dig­i­tal econ­omy,” she said.

“The in­dus­try is en­cour­aged to work as one to adopt the new prac­tice be­fore the De­cem­ber 1 dead­line for the ben­e­fit of con­sumers, the prop­erty sec­tor and to fur­ther strengthen in­tegrity of the State’s land ti­tles reg­is­ter.”

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