Verification Of Identity
New rules around the process of verifying client identity are being rolled out across Australia.
From 9th November 2015 it is a legal requirement for all conveyancers and legal practitioners working with land transaction conveyancing to take reasonable steps to prove a client’s identity. This will come at an additional cost to clients of $44.00
Whilst we understand this may be an inconvenience to our clients, it is mandatory for all conveyancers & solicitors.
We will guide you through the process step-by-step.
Verification of identity must be conducted during a face-to-face in-person interview.
Where documents containing photographs are produced by the person being identified there must be a reasonable likeness to the Person depicted in the photographs
Identity documents must be originals
WHAT IS E-CONVEYANCING?
E-conveyancing is essentially a process for settlement, stamping and lodgement of property transactions electronically in a paperless environment. This will mean that the old practice of the parties' representatives each physically attending a settlement where bank cheques and documents are exchanged will no longer be required.
Property Exchange Australia (PEXA) will in due course enable lawyers, licenced conveyancers, regulated financiers and government authorities (called ‘subscribers’) to lodge data with the titles offices in each Australian state and territory electronically, replacing paper documents.
The Government now requires that all settlements take place on PEXA. Your settlement will still have a specific time on the day. The Government fee for using PEXA is currently 114.07, we have no control over this fee and it is paid to PEXA at the time of settlement.
TRACK THE SETTLEMENT OF YOUR PROPERTY
SettleMe reduces the stress of buying and selling property by instantly updating you on the progress of your property settlement, we will send you a link to register.
