Econveyancing

Econveyancing, or electronic conveyancing, is the digitization of the conveyancing process for real property transactions. It encompasses electronic handling of contracts, title checks, document lodgment with land registries, and the electronic settlement of funds. In jurisdictions where it is implemented, the process is supported by secure online platforms that connect buyers, sellers, their legal representatives, lenders, and the land registry.

Typically, after contract exchange, settlement instructions are submitted to the platform. The platform performs title verification, coordinates mortgage funding, and facilitates the transfer of ownership and funds. The registry electronically lodges required documents and updates the title, while funds are settled electronically between bank accounts. The system provides real-time settlement status and a digital audit trail.

Benefits include faster settlements, reduced reliance on paper and couriers, lower error rates, and clearer accountability. It can improve security through authentication and tamper-evident records, and provides post-settlement transparency. Limitations include the need for widespread participation by conveyancers, lenders, and registries, cybersecurity risks, digital literacy requirements, and the potential for outages or interoperability issues between platforms and registries.

In several countries, notably Australia, e-conveyancing has become a mature component of property transactions, with platforms such as PEXA enabling online settlement and lodgment. Other jurisdictions pursue varying levels of electronic conveyancing adoption, often with mixed timelines and regulatory frameworks. The term is sometimes used interchangeably with electronic conveyancing or e-settlement.