EC - Land Registry expects 80% uptake

Land Registry believes that over a period of a couple of years EC could represent up to 80 per cent of all settlements. Title transfers will still be allowed to be processed using the current paper-based conveyancing processes.
No physical settlement will occur in the EC system; with settlement, lodgement and notification of transaction details to relevant statutory authorities occurring electronically, in one continuous consecutive combination.
While the EC system will run in parallel with the paper-based lodgement processes, the survey conducted for this review identified a strong likelihood that the EC system will be supported by suppliers of conveyancing services (see figure 2.1). Land Victoria suggests that about 20 per cent of conveyancing will still be done using the paper system.

Final Report - Regulation of Conveyancing Services in Victoria