Will COVID-19 affect my property settlement?

COVID-19 has resulted in the Government’s enforcement of a number of restrictions. This has resulted in parties involved in conveyancing transactions, questioning whether their property settlements are able to proceed. Due to the widespread adoption of technology throughout the conveyancing process, and the implementation of online technologies such as PEXA, State Revenue Office Duties Online and DocuSign, means that all documents that are required for property settlement can be prepared, signed and lodged electronically, without the requirement of parties to sign copies physically. Furthermore, settlement monies are able to be electronically dispersed to the receiving party (via PEXA) which removes the need of a party to attend a bank to deposit settlement cheques. As a result, property settlements can continue to be conducted seamlessly despite the existence of COVID-19