Queensland Attorney General Jarrod Bleijie announced on 15 August 2013 that Queensland’s property law will undergo a review with likely recommendations aimed at fostering a more “streamlined and common sense approach” to buying, selling and managing property.
During his speech at an industry event where the review was announced, Bleijie said the review will examine legislation including the Property Law Act 1974 (Qld), Land Sales Act 1984 (Qld) and the Body Corporate and Community Management Act 1997 (Qld), and that the Newman Government will partner with the Queensland University of Technology to review the State’s property law.
The public will be invited to put forth their opinions for the review, with the first two issue papers on seller disclosure requirements and body corporate entitlements being released in early 2014.
The progress of the review can be viewed here.
The Electronic Conveyancing National Law (Queensland) Act 2013 (Qld) received assent on 29 April 2013. The Act implements the Electronic Conveyancing National Law and amends the Land Title Act 1994 (Qld) and the Land Act 1994 (Qld) to permit electronic land title forms. Queensland is the third jurisdiction to adopt the national law passed first in New South Wales and subsequently adopted by Victoria.
The e-conveyancing system allows the settlement and lodgement of documents for registration through one system - Property Exchange Australia, or PEXA. PEXA does not replace the land title registry or amend the substantive land title law, and use is voluntary.
The system simply facilitates lodgement and settlement by the creation of an electronic workspace through which parties can interact, regardless of their physical location. The electronic system is stated to be expected to reduce cost, inconvenience, errors in documentation and save time.