Electronic Conveyancing: Updated Form R1 under the Land and Business Act 1994

August 17, 2016   |   Property

At Tri-meridian.com we have previously discussed the changes to the Real Property Act which came into effect along with the introduction of Electronic Conveyancing.
The Real Property (Electronic Conveyancing) Amendment Act 2016, commenced on Monday the 4th of July 2016 in South Australia. Along with its introduction, new obligations for vendors and purchasers who engage a conveyancer or legal practitioner to act on their behalf were also introduced.
These changes in the conveyancing and settlement process, enable them to be conducted on a digital platform. The hope is that these changes will result in the opportunity for increased efficiency in the entire process and allow innovation in service delivery as conveyancing is integrated with other sectors that have embraced digital transformation. For more information on E-conveyancing and what it will change please refer to our recent Blog here.

The changes are to streamline the ability to incorporate service by email.

To assist with the dissemination of this information and the changes that have come into effect, updates have been made to Form R1 under the Land and Business (Sale and conveyancing Act 1994).  The new form is now available on the CBS website and we have also attached the pdf at the bottom of the page along with attachment form 1 and 2 which are notifications to the purchaser regarding Cooling Off.
The Consumer and Business Services have also announced that to provide sufficient time for land agents to use up existing forms there is a six (6) month transition period ending on 7 February 2017.
For more information on this topic then please see our website and the links above, if you do require further legal assistance, then do not hesitate to contact us.

Downloads

For further information, please contact the author.

This article is posted in Adelaide, South Australia by Tri-meridian Corporate & Commercial Law and is intended to be used as a guide only. It is not, and is not intended to be, advice on any specific matter. We do not accept responsibility for any acts or omissions resulting from reliance upon the content of this article. Before acting on the basis of any material in this article, we recommend that you consult your professional adviser.