States team up on e-conveyancing

The Law Council says a new electronic conveyancing initiative from three Australian states is a major milestone in the road to a national system.

Media reports suggest the governments of New South Wales, Queensland and Victoria have committed $5 million and established a public company to develop a national electronic conveyancing system, essentially a more efficient and convenient way of completing property transactions.

Law Council president Glenn Ferguson says the move is a critical step in the process and should accelerate the development of e-conveyancing.

"Speeding up the conveyancing process in this way will benefit clients and the economy," Ferguson says.

The Law Council has accepted a seat on the board of the company established by the three governments.

This company will develop a national e-conveyancing system to a point where other states and territories can also contribute to its operation.