E-conveyancing- are your council property transactions compliant?
Electronic conveyancing has commenced and fundamentally alters the manner in which documents are lodged with the Lands Titles Office (LTO).
At a glance:
- Verification of identity, verification of authority and client authorisation requirements must now be satisfied prior to lodging documents with the LTO for registration.
The law now requires:
- verification of the identity of the CEO and Mayor for most real property transactions of a council
- verification of the authority of the parties to enter the transaction
- client authorisation for the lodgement of documents for some real property transactions, including the transfer of land.
Click here to view our Insights article discussing these changes in more detail.