Land Use Victoria has mandated that all land transfer transactions must be lodged and managed online from August 2019.
This applies to conveyancers and lawyers acting for a party or for themselves.
To meet this requirement, we are enhancing Duties Online so that complex transactions can settle electronically. The enhancements, which are scheduled to take effect from 17 June 2019, will:
- Improve electronic settlement completion rates.
- Mean duty is calculated prior to settlement for all electronic transfers.
- Align settlements so that complex and non-complex transactions can be managed online.
- Increase data security.
- Ensure information is viewed and agreed to by all parties before settlement.
We are providing comprehensive training and support for customers with webinars about the enhancements starting on 30 April and system demonstrations commencing in mid-May.
This enhancement will mean almost 100 per cent of transactions are managed online.