Land Use Victoria has mandated that complex transactions for land transfers, currently managed via paper settlement, must be lodged and managed online from 1 August 2019. To meet this requirement, enhancements are being made to Duties Online. These enhancements are scheduled to take effect from 17 June 2019.
This new mandatory requirement applies to solicitors and licensed conveyancers acting for a party or for themselves, as well as PEXA subscribers. Examples include a case comprising withdrawal of a caveat, discharge of a mortgage and transfer and mortgage.
This move to require complex transactions to be managed exclusively via electronic conveyancing means:
- The Digital Duties Form is mandatory for all transactions.
- Duties Online (DOL) transaction types listed on the SRO website must be processed electronically using an electronic lodgement network operator.
As a result of this requirement, almost 100 per cent of transactions will now be managed online.
For further information, see the SRO Duties Online page.
See the By Lawyers Conveyancing & Property (VIC) publications for further information about electronic conveyancing and duties requirements.