Minister for Economic Development Lara Giddings presented Hobart Company Capital 3 with an Innovations Grant of $150,000 to further develop a fully electronic property conveyancing system, ConveyIT.
“ConveyIT is a unique tool believed to be the first in the world that takes conveyancing from a paper based system to an online process,” Ms Giddings said.
“ConveyIT provides solicitors and others involved in property conveyancing such as Real Estate Agents with instant access to information required to complete a conveyance.
“This ensures that it can be done quicker and cheaper.
“The beauty of ConveyIT is that it can communicate online with other third parties integral to the process,” she said.
ConveyIT developers have worked closely the Law Society of Tasmania, Real Estate Institute of Tasmania the Lands Titles Office, and other key third parties to ensure the solution meets the requirements of the marketplace.”
“ConveyIT represents a unique first with significant growth opportunities, a proven market, quantifiable customer benefits and high potential returns,” Ms Giddings said.
Capital 3 CEO Paul Gregg said, “We are thrilled to be launching ConveyIT right here in Tasmania. Other Australian states and territories and potentially other countries that have a common law legal system will be targeted shortly.”
“We expect significant growth in the years ahead and its success should enhance employment opportunities in Tasmania,” Mr Gregg said.
ConveyIT is available online at www.conveyit.com.au
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