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Residential property law is a State specific area of law, which means that the process of conveyancing will also differ between States. It is important when selling a property in Queensland, that you look for information relevant to Queensland rather than any other States. This can be a little difficult to differentiate, especially if this […]

Verification of identity is a legislatively required process that all conveyancing lawyers must require their clients to complete to confirm their identity as a part of the electronic conveyancing process. Conveyancing lawyers are required to then hold on their records the relevant report created for up to seven years after the transaction is complete. The […]

Client authorisation form is a form that is required to be completed by the parties relevant to the transaction, authorizing their conveyancing lawyers to conduct the transaction for them. You will need to arrange for the form to be signed and witnessed by an authorised identity agent. The agent can be a member of Australia […]

Property Exchange Australia (PEXA) is an electronic lodgement and network operator that operates an electronic settlement platform. You pay them a small fee for the service of hosting the settlement on their platform. Due to recent cascading law changes in a several states, settlements being complete on PEXA are now mandatory in states like Victoria, […]

E-conveyancing is short for electronic conveyancing, which is the process of completing conveyancing online via an electronic lodgement and network operator (ELNO). Currently the only ELNO that has widespread usage by many conveyancers and banks is Property Exchange Australia (PEXA), with Simpli coming out into the market to be its competitor. The benefits of settling […]

Once a settlement is complete, the next steps are for the buyer’s conveyancing lawyer to attend the land registry office to lodge the title and transfer documents to put the buyer’s name on title. If the buyer has an incoming mortgagee, then this task is for their representative to complete because they hold a vested […]

Settlement is an event that happens at the end of the contract to give effect to the major term of the contract, which is the transfer of title in exchange of money. In the traditional paper settlement, the seller’s conveyancer would bring all of their title and signed transfer documents for the buyer’s conveyancer to […]

When you are buying a property, you should understand that it is always “buyer beware”, which means that it is up to you to research into the property to satisfy yourself that the property is the right one for you. In other words, “what you see is what you get” or in the case of […]

When you are purchasing a property, you may have already saved up a decent amount of money to be used for your deposit, your stamp duty and fees, etc. That is, you are contributing to the settlement funds with your savings. The money will need to be collected for the purpose of making the payment […]

A settlement statement is basically a statement that contains all the apportionment of outgoings and liabilities attached to the property and required by the contract to be adjusted. The items that are usually included in the settlement statement are mortgage discharge fees, rates, water charges, body corporate levies, rent, etc. The information that is needed […]