What is Electronic Conveyancing?
Land Exchange - EC - Victorian eConveyancing
The Victorian Government, through its Land Exchange Program within the Department of Sustainability and Environment, has developed a world-first system for electronic conveyancing (EC).
The primary goal of the EC project is to provide an Internet-based system enabling online processing for the settlement and lodgement of land dealings. The full functionality of EC Release 2.0 was launched on 16 November 2007.
EC Release 2.0 brings the major functions of property conveyancing and related mortgage activities into the world of e-commerce, including the:
* completion and signing of land transaction instruments for lodgement with Land Victoria
* calculation and payment of duty and other fees for land transactions (and delivery of information regarding that duty and those fees)
* financial settlement of land transactions
* lodgement of instruments with Land Victoria
The system's development involves financial institutions, solicitors, conveyancers, industry peak bodies and the State Revenue Office to ensure all land transfer requirements are met in one simple process.
EC Release 1.0 was launched with limited functionality on 21 August 2006.
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