The New South Wales government is proposing a new reform set to revolutionise the state’s processing of certificates of title.
In a LinkedIn post, Victor Dominello, the NSW Minister for Customer Service, said “bye-bye paper certificates of title”.
He said paper representations of what exists on the Torrens register “have no place in e-conveyancing”.
“That’s why, this week I will be introducing legislation which removes paper certificates of title,” he wrote.
This would see New South Wales become “the first jurisdiction in the country that will have 100 per cent mandated e-conveyancing”, Mr Dominello flagged.
The minister considers the move to digital as following a similar one to the state’s journey with the digital driver’s licence (DDL).
“While you can lose your plastic driver’s licence, you cannot physically lose your DDL,” he pointed out.
According to him, the reform will prevent lost or fraudulent paper titles, reduce costs around storing paper certificates of title, and allow for a fully digital conveyancing process.
It’s hoped the new laws will reduce delays with respect to property transactions, and reduce stresses around the holding and storing of physical copies.
ABOUT THE AUTHOR
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.