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Welcome to NECSpress, the e-newsletter for the National Electronic Conveyancing System.
In this edition:
- NECS goes North
- Upcoming National Steering Committee Meeting
- Signing On-line
- Forum Focus Topics: Licensed Service Providers and Workspace Population
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On 28 November the Law Society of Queensland conducted an information session for its members about the national approach to electronic conveyancing. Over 120 people attended. The Queensland Registrar of Titles, Max Locke, chaired the session and the speakers were Neil Lawson and Simon Libbis. Neil is the Queensland representative on the National Steering Committee.
There was a high level of interest in NECS and wide support for it by those attending. Question time saw a number of interesting issues raised and some very constructive discussion followed.
The National Office is happy to assist with information sessions like this. Please contact us if you would like to arrange one.
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There is one change to membership of the Committee since the last meeting. Peter Achterstraat, as Commissioner for State Revenue in News South Wales, was one of the representatives of the Revenue Offices. Peter has been appointed Auditor-General for NSW. The committee congratulates Peter on his new position and thanks him for his significant contribution to NECS. Tony Newbury is acting in Peter’s position and will take his place on the Committee. A very warm welcome to Tony.
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As more of our lives move online both personally and professionally, security becomes paramount to protecting personal information and transactions. Buying and selling property is no exception.
Digital Certificates authenticate and protect our identities when signing electronic documents or transacting over secured websites. Such certificates and technology will be utilised between the NECS online system and our own personal computers. These certificates (server and client) will literally handshake when we, as users, are required to sign documents.
The Federal Government has implemented a nationwide program called "Gatekeeper" for communicating and dealing with Government departments online. This program provides a policy and structural framework for choosing certificates and a security authority who provides the root level authority for certificate validation. Certificates have grades that allow them to be issued to companies, individuals and individuals within a company by using the ABN as a authentication point. This makes them flexible enough to be used within the NECS business model to ensure that users are verified and transmitted information is encrypted when sent over the internet to participating systems and departments.
For more information about the Gatekeeper program visit:
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Forum Focus Topics: and of Mortagages |
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Each jurisdiction’s requirements of the NECS, including what instruments are provided for in transaction workspaces for land in the jurisdiction, are specified by the jurisdiction and implemented by the NECS. This means the instruments able to be prepared from a transaction workspace may differ between jurisdictions.
The NECS provides for a minimum set of instruments to be prepared from all workspaces irrespective of the jurisdiction where the land is located. For settlement transactions, the minimum instrument set includes:
- Discharge of mortgage
- New mortgage
- Transfer
- Removal of caveat recording
Removal of caveat recording is included so as not to preclude from the NECS transactions involving titles on which caveats are recorded at the request of purchasers in particular.
For lodgment transactions (ie where a settlement is not involved), the minimum instrument set includes:
- Change of proprietor name
- Proprietor death recording
- Transmission or survivorship
- Settlement or priority notice recording (where provided for in the jurisdiction)
- Caveat or writ recording
Jurisdictions may add instruments to this minimum set requirement provided they can specify, test and certify the business rules to be applied to the workspace information necessary to prepare them for certification, signing and lodgment as electronic instruments.
Reference:
NECS Operations Description v5 130706 Section 9.2.6.6 (Page 34)
How will this impact on your industry practices? Have your say on the forums:
http://www.necs.gov.au/forums
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Electronic instruments are certified and signed by Certifiers who are either:
Every Certifier is also a User employed by or contracted to a Subscriber or in the case of a sole practitioner, a Subscriber, a User and a Certifier all in one.
Certifiers who are legal practitioners or licensed conveyancers, land agents or settlement agents can certify and sign instruments on behalf of their Subscriber or their Subscriber’s Clients. For example, a legal practitioner employed by or contracted to a Financial Institution can certify and sign instruments on behalf of the Financial Institution as a lender and on behalf of a Client of the Financial Institution as a borrower and/or purchaser.
Certifiers who are neither legal practitioners nor licensed conveyancers, land agents or settlement agents can only certify and sign instruments on behalf of their employer (if a delegated employee) or principal (if an empowered contractor). For example, a clerk in a Financial Institution delegated by the Financial Institution to be a Certifier for the Financial Institution can only certify and sign instruments on behalf of that Financial Institution.
Paper mortgage instruments are invariably signed by the mortgagor (borrower). Some jurisdictions also require signing and certification by the mortgagee (lender).
Because in general in NECS only Certifiers can certify and sign and not Clients, electronic mortgage instruments in each jurisdiction are specified as requiring either:
- Certification and signing of separate counterpart instruments by a Certifier for the lender and a certifier for the borrower, or
- Certification and signing by a Certifier for the lender only, or
- Certification and signing by a Certifier for the borrower only.
Which of these approaches is implemented for each jurisdiction is for the Land Registry in the jurisdiction to determine. In some jurisdictions requiring both lender and borrower to certify and sign paper mortgages, a change to requiring a representative of only the lender or only the borrower to certify and sign electronic mortgages may mean changes need to made to legislation in that jurisdiction. The change may also mean lenders have to vary their approach to loan and mortgage documentation in that jurisdiction.
Nevertheless, in the interests of maximum convenience for users of the NECS, a uniform approach in all jurisdictions would be preferable.
How will this impact on your industry practices? Have your say on the forums:
http://www.necs.gov.au/forums
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Daniel has joined NECS to evaluate and guide the solution process for building a National Online Conveyancy System as the Solution Architect.
Daniel has been working in the field of Online System development for the last twelve years, designing and building systems for a range of industries including the Telco and Financial Services Market. Daniel specialises in understanding how online technology and communications can facilitate business over the internet and based on his experience of over 200+ projects can provide insightful stratetgy about how to avoid some inevitable obstacles.
Daniel's most recent experience includes writing online portal strategies for Australia Post and Sensis.
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Please check out the NECS website http://www.necs.gov.au or contact us at
Level 2, 10-16 Queen St
Melbourne Vic 3000
Ph: 03 8626 4545
Fax: 03 8626 4546
Email: info@necs.gov.au
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