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Leading Australian law firm MinterEllison has completed its first property transfer involving financial settlement using the PEXA platform. The transaction was the sale of a residential property in Perth for a registered Australian Charity, a long standing client of MinterEllison. The settlement occurred online, in little over 15 minutes, without any party having to leave their office. The funds were transferred to the client’s account immediately after completion. As the buyer was an investor who financed the purchase, there were three parties represented in the PEXA workspace – the vendor, the buyer and the bank financing the purchase. MinterEllison's Innovation and Networks Leader, Andrew Cunningham, said the benefit for the client using the PEXA online platform is considerable. "The real property industry is going through a rapid transformation, backed by state governments and land registries. We're proud of MinterEllison's ability and readiness to adopt these changes to assist our clients, he said." Over the past six months MinterEllison has been running a pilot of PEXA, completing more than 80 simple lodgements electronically, including Discharges of Mortgage, Caveats, Settlement Notices and more recently Priority Notices. "Adding stand-alone financial settlements to the scope of our work in PEXA was a logical next step," Mr Cunningham said. MinterEllison's property team is one of the largest in Australia, with 36 partners and more than 140 lawyers across the country delivering a comprehensive range of property-related legal services for developers, investors, owners, landlords, property fund managers and governments. Perth-based Senior Paralegal, Emma Cummings, who led the team on the property settlement, said the process was seamless. "I’m looking forward to working full time on the PEXA platform. It's an easy, productive and collaborative way to conduct settlements," she said.   Above: Emma Cummings, Senior Paralegal and Natalie Casale, Special Counsel (Perth) completed MinterEllison’s first financial settlement ... View more

The push to move property transactions online is gathering pace. The recent Gippsland "Keeping up with e-Conveyancing" session was keenly attended. PEXA Direct Leader, Heather Crichton (pictured), Land Victoria and the State Revenue Office briefed the growing e-Conveyancing community on digital settlement. 1,000+ Victorian conveyancers & law practices are gearing up to transact online. Didn't get a chance to attend? Please post your e-Conveyancing questions and Heather will stay in touch by replying.  Gippsland lawyers & conveyancers tune into "Keeping up with e-Conveyancing" session ... View more

In no time at all Kenny Spring Solicitors (Bathurst, NSW) has ramped up double digit online property transactions on behalf of customers including Wyong Shire Credit Union and Family First Credit Union. Solicitor Zoe Bagnall explains that industry has an opportunity to get on board and voice how it wants to shape the growing digital network. Do you have an innovation story to share, or, an idea that helps the e-Conveyancing community transition to the digital era?  ... View more

The e-Conveyancing community has come a long way since the Commonwealth Bank completed the first ever PEXA transaction in 2013. Today, 100+ banking & financial institutions & 3,000 legal and conveyancing practices are on board - testament to the entire industry's incredible work. Thank you e-Conveyancing community. It's your network. ... View more

Congratulations  Suthers Lawyers and Swift Legal for making the headlines by exchanging property online and calling out the benefits for your regional peers. Another Wide Bay area success story noting that digital property exchange means more time available for clients because staff no longer need to leave the office to attend settlements.     ... View more

Peter Esho, 2UE Talking Property radio host, reached out to interview PEXA about the property industry's digital transformation. Marcus explains why exchanging property online is a game changer for lawyers and conveyancers at the centre of this e-Conveyancing reform. Peter Esho also shares his own manual property exchange frustration! ... View more