Property settlements during COVID-19

The government restrictions imposed as a result of COVID-19 has made many parties to conveyancing transactions ask us about how their property settlements can possibly proceed.

Thanks to technology which is widely adopted such as PEXA, State Revenue Office Duties Online and DocuSign, all conveyancing documents are now prepared, signed and lodged electronically so there is no need for parties to sign physical copies of documents.

In addition, settlement monies can (via PEXA) be electronically disbursed to the receiving party, which eliminates the need for a party to physically attend a bank to deposit settlement cheques. Fortunately, the (relatively) recent introduction of this technology has meant that property settlements have been able to proceed seamlessly throughout the pandemic.