PEXA goes live in QLD and WA

Property Exchange Australia (PEXA) enables the electronic lodgement of Land Registry documents. These include mortgages, discharges and withdrawals of caveat.

PEXA is currently available in New South Wales and Victoria and will go live in Queensland and Western Australia next week.

Since its launch last year, PEXA has proven to be a valuable innovation in the conveyancing field by allowing lawyers and conveyancers to conduct property settlements online. This ability to complete settlements without the hassle of personally attending, allows law firms and lenders to operate nationally with the same convenience as if settlement were taking place locally.

So far more than $1 billion in property value exchanged through PEXA across 23,000 transactions.

The system is possible due to the new rigorous verification of identity (VOI) requirements. Unfortunately, these vary slightly in each state.

Bransgroves Lawyers maintain a comprehensive review on the VOI requirements for each state on our website. Click here to view the VOI requirements for your state. 

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