Johnston Withers is delighted to be able to say that we are the first law firm in SA to lodge land title documents using PEXA, South Australia’s new online property exchange.
The property exchange went live 9am on Monday 4 July. Gemma Wallace, who works as a Registered Conveyancer at our Adelaide office, lodged a caveat shortly after 9 as part of a demonstration held by the Australian Institute of Conveyancers in Adelaide.
PEXA allows lawyers and conveyancers to electronically lodge Land Registry documents. It will eventually take the place of the old system of attending settlement at the Land Titles Office and physically swapping documents. It’s introduction will revolutionise the conveyancing industry – doing to conveyancing what going electronic did to the stock exchange. The platform uses technology to make conveyancing more efficient, provides less opportunity for human error, and ensures that people selling property get faster access to their money.
Gemma, who has had a long involvement in the conveyancing industry, has been at the forefront of this change. She has been working with the Australian Institute of Conveyancers SA, and PEXA, to provide the necessary training to SA practitioners in readiness for the roll out.
In the short term the PEXA will be an opt in system, so clients can choose to continue to use manual conveyancing. But eventually the digital transactions will become the norm. We are delighted, and proud,to be at the forefront of this change!