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Assisting on whole of government technology agreements November 2, 2017

Maddocks advised the Commonwealth Government’s Digital Transformation Agency (DTA) on its whole of government purchasing agreement with SAP. The DTA was set up in 2015 to assist government departments and agencies with digital transformation and … Continued

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Making waves: Maddocks advises on Manly Fast Ferry sale February 12, 2018

Monday 12 February 2018 Maddocks has advised the founders and operators of the Manly Fast Ferry on their divestment of the company to NRMA, Australia’s peak road association. The firm advised Richard and Will Ford, … Continued

Latest Article

Radio Refunds: How to avoid breaching your responsible lending obligations February 15, 2018

Background Major Australian retailer, Thorn Group, and its consumer leasing business, Radio Rentals, has agreed to refund almost $20 million to customers who entered into leases with the company following an ASIC investigation into breaches … 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