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Verification of Identity – Protecting your Property

By November 24, 2016Conveyancing

e-Conveyancing … a step towards paperless property transactions

The evolution of technology has transformed the way we conduct your matter, and soon electronic conveyancing will relieve us all from the masses of paper currently needed in a property transaction.

Electronic conveyancing has been talked about for the last 10 years and is now a reality in Queensland and New South Wales, with conveyancers and solicitors able to sign up to the PEXA system.

Property Exchange Australia Ltd (PEXA) is an organisation that manages the electronic property exchange settlement system which processes property transfers for each of the state land registries. Fox and Thomas has registered with PEXA to be able to conduct online property transactions on your behalf.

As well as conveyancing, PEXA can facilitate other property transactions such as changing the name on a land title, requesting a replacement certificate of title, transferring property pursuant to wills and transfers of land in Family Law matters.

To be able to conduct online property transactions through PEXA, participants must abide by the National rules developed to protect land owners from identity fraud and registration of fraudulent land transactions.

Transferring land for the wrong person could have serious consequences and we need to be able to protect your interests.

The new National rules direct that we must verify your identity before we can act for you in a conveyance transaction, whether it be an electronic transaction or paper-based, for an electronic transaction this means we need to meet with you in a face-to-face meeting and you need to provide to us some original documents that will verify your identity. If you are considering financing a purchase of a property, your bank will also need to conduct this process.

Don’t worry, if you are not able to attend our office to have a face-to-face meeting, we have agents who can verify your identity on our behalf. Speak with our staff and they will be able to assist you with this.

Before you attend our office for your initial meeting, we will need you to gather some original documents to bring with you that fall into the top three categories listed below. If you don’t have documents that are in category 1, go to category 2 and so on.

However if you cannot provide documents in these categories, please talk to us as we do have further categories of documents you can provide to us.

Documents required

Australian Passport OR Foreign Passport
PLUS Australian Drivers Licence OR Proof of Age Photo Card
PLUS Change of Name or Marriage Certificate if necessary.
Australian Passport OR Foreign Passport
PLUS Full Birth Certificate OR Citizenship Certificate OR Descent Certificate
PLUS Medicare card OR Centrelink OR Department of Veteran’s Affairs card
PLUS Change of Name or Marriage Certificate if necessary.
Australian Drivers Licence OR Photo Card
PLUS Full Birth Certificate OR Citizenship Certificate OR Descent Certificate
PLUS Medicare card OR Centrelink OR Department of Veterans Affairs card
PLUS Change of Name OR Marriage Certificate if necessary.

Once we have completed your verification of identity we will keep a certified copy on our file and it will be valid for a period of 2 years. Our system will be updated so we do not have to keep asking you for identification.

Should you have any questions or would like more information, please contact our conveyancing team on 07 4671 6000.

Stay tuned for our next newsletter on the benefits of PEXA.