The New South Wales Government has taken steps to phase out paper-based conveyances by 2019. By March 2017, financial institutions will be forced to lodge documents regarding mortgages online via the government’s e-conveyancing software. This will mean that financial institutions will no longer receive paper titles, with certificates being provided in a digital format.
By March the government hopes to have consulted with other interested parties, including realty and legal firms in order to lay down a path to a paperless future. With a 2019 deadline NSW is likely to follow closely in the footsteps of Victorian and Western Australian jurisdiction who already have similar e-conveyancing systems in place.