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How COVID has affected property settlement

Updated: Dec 9, 2021

Welcome to the first blog post for Moustacas & Co Lawyers, bringing you insights and need-to-know information in the world of law. We aim to educate our readers by providing relevant content, tips, and advice stemming from our experts in property law, conveyancing and, will and estates.

We will include in this post how COVID has affected property settlement and the focus the digital property transaction process.

COVID and property settlement

How do I sign contracts and all necessary documents remotely during lockdown? At Moustacas & Co we use DocuSign as a way for our clients to sign documents and fill in forms remotely. It enables you to sign documents anywhere from any device, plus it is more secure than paper. What is PEXA? What are the benefits? How has property settlement been affected by COVID? PEXA is a digital platform that facilitates and supports property transactions and settlements. It allows lawyers to lodge documents with the Land Registry and pay settlement funds all online. Three benefits of PEXA: 1. Efficient - settlement funds are transferred digitally making it faster and timely. 2. Safe and secure - PEXA is regulated by the Registrar in each state it is active in. 3. Simple - It is all online, no more paper or in-person attendance.

The biggest effect COVID has had on property settlement has been the shift in focus to digital processes. It has allowed for the almost seamless transition of settling property transactions online. It has allowed for a smooth transaction process, with all documents being lodged and signed in a timely, accurate and safe fashion.

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