Property Exchange Australia (PEXA) was formed to fulfil a Council of Australian Governments (COAG) agenda item to deliver a national electronic conveyancing solution to the Australian property industry.
Supported by the NSW Government PEXA will enable industry participants to settle property transactions, lodge instruments with land registries, and pay associated duty and other disbursements.
Electronic conveyancing went live in New South Wales on 8 October 2013. The initial release provided functionality for financial institutions to lodge Mortgages and Discharges through the PEXA platform.
On 10 November 2014 the second release of electronic conveyancing expanded the range of functions to include financial settlement and the lodgment of transfers and caveats. This release allows subscribers such as solicitors and conveyancers to transact through PEXA. Legislation is pending in NSW Parliament that will introduce priority notices as part of our electronic conveyancing reforms.
To find out more, including information on becoming a subscriber to PEXA visit www.pexa.com.au.
Visit the Registrar General’s Directions website for e-Conveyancing FAQs and FAQs regarding Control of the Right to Deal (CoRD) and eCT, settlement and eCT, and procedural and administrative matters.
For enquiries about National Electronic Conveyancing in NSW, please contact us at eConveyancingNSW@lpi.nsw.gov.au