NSW ORG has announced two major changes, effective 11 October 2021, as industry continues to transition towards 100% digital:
- The cancellation of Certificates of Title (CTs) and the control of the right to deal (CoRD) framework; and
- The requirement for all property dealings to be lodged electronically.
Cancellation of CTs and the CoRD framework
All CTs will be abolished, effective 11 October 2021.
By order under section 33AAA of the Real Property Act 1900, from this date, all current CTs will have no legal effect and the Registrar General will no longer issue CTs for any reason.
Similarly, Authorised Deposit-Taking Institutions, such as banks, will no longer be issued with CoRD, which is the electronic equivalent of a CT.
All property dealings to be lodged electronically
Following the recent 10 May milestone, after which the final 34 out-of-scope Residual Documents were made available to be lodged electronically, NSW ORG has confirmed that under the NSW Conveyancing Rules, all property dealings are required to be lodged electronically from 11 October 2021.
For more information, please refer to the NSW ORG statement here: https://www.registrargeneral.nsw.gov.au/property-and-conveyancing/eConveyancing/abolition-of-certifi....
