According to the Financial Review "the mooted National Electronic Conveyancing System will mean cheaper conveyancing because of national competition". My response is there's plenty of competition already. Conveyancing is more complex than the arranging of physical settlements. An online E-Lodgement system (which is what NECS is) will make the complex settlement arrangments easier (theoretically) but I dont agree it will make it any cheaper. There is an argument lawyers will have a larger liability exposure as they will be "signing the transfer"
Read the article FinReview 4 Nov 05
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