PEXA (Property Exchange Australia)
Is Alliance Conveyancing "PEXA-Ready??"
PEXA (standing for "Property Exchange Australia") is a national database initiative, sponsored by the major Banks, financial institutions, Land Registries and other State and Commonwealth Government Departments dealing in property transactions. The aim of the initiative will be to permit, ultimately, a nationwide transaction environment, accepted by all participants as being legally and financially secure, so as to enable electronic, on-line settlements of property dealings.
In that the sponsoring stakeholders are the Banks and the Governments, potentially at every level, it is anticipated that there will be an increasing momentum, over coming years, to have conveyancing transactions transacted, or at least settled, on-line.