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Latest Case

Providing strategic advice on expansion structures November 16, 2018

Founded in Bondi Beach in 2012, Bailey Nelson has rapidly grown into a global eyewear retailer and service provider with boutiques in Australia, London, Canada and New Zealand. The strong demand for their products and … Continued

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Maddocks advises one of the world’s largest duty free companies on Australian market entry January 23, 2019

Law firm Maddocks has advised global duty free company Lotte Duty Free Singapore Pte Ltd, on the aquisition of Australian duty free company JR Duty Free. Under the deal, Lotte Duty Free aquired 100% of … Continued

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Bully no more – Fair Work Commission’s jurisdiction to hear Council anti-bullying application confirmed January 31, 2019

The Fair Work Commission has confirmed a Victorian local council is a ‘constitutionally-covered business’ and thus falls within the stop bullying jurisdiction of the Commission. The decision will have implications for larger Victorian councils regarding … Continued

Digital titles and electronic transactions

Land Use Victoria (formerly known as the Land Registry or Land Titles Office) has undertaken the first steps to convert Victoria’s Registry of Titles to an electronic format, by converting all paper titles held by authorised deposit-taking institutions (that is, banks) to electronic titles.

In addition, Australia’s sole electronic lodgement and conveyancing provider, Property Exchange Australia (PEXA) is operational and increasingly being used across the industry for a range of conveyance-related transactions (for example, caveats, mortgages, transfers of land etc.). PEXA has recently announced that Land Use Victoria is now consulting with industry bodies on a proposal for all Land Use Victoria transactions to be lodged electronically by July 2019.

The property industry is now moving towards whole-scale electronic transactions in the near future. These reforms are intended to significantly reduce the time and costs associated with completing property transactions. Now is a great time for institutions with large land holdings, such as local councils, to consider transferring their paper titles into electronic titles if they have not already done so.

Author:
Jonathon Meehan| Associate
61 3 9258 3015
jonathon.meehan@maddocks.com.au

Land Use Victoria (formerly known as the Land Registry or Land Titles Office) has undertaken the first steps to convert Victoria’s Registry of Titles to an electronic format, by converting all paper titles held by authorised deposit-taking institutions (that is, banks) to electronic titles.

In addition, Australia’s sole electronic lodgement and conveyancing provider, Property Exchange Australia (PEXA) is operational and increasingly being used across the industry for a range of conveyance-related transactions (for example, caveats, mortgages, transfers of land etc.). PEXA has recently announced that Land Use Victoria is now consulting with industry bodies on a proposal for all Land Use Victoria transactions to be lodged electronically by July 2019.

The property industry is now moving towards whole-scale electronic transactions in the near future. These reforms are intended to significantly reduce the time and costs associated with completing property transactions. Now is a great time for institutions with large land holdings, such as local councils, to consider transferring their paper titles into electronic titles if they have not already done so.

Author:
Jonathon Meehan| Associate
61 3 9258 3015
jonathon.meehan@maddocks.com.au