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n e w s f l a s h
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At LandInfoNet, we are committed to keeping you up to date with the latest rulings and policies in the fast-changing world of land and company information. As some changes are so important to your practice that they can't wait until the next published newsletter, we will use this section to inform you of them in the interim.

LAND ON LINE STAGE TWO - ELECTRONIC LODGEMENT

The Land Transfer (Computer Registers and Electronic Lodgment) Amendment Act 2002 allows for the electronic lodgment of certain standard documentation (Discharges, Transfers, Mortgages) direct on to an electronic Title, without the need for LINZ to sight the original documentation or outstanding duplicate Title. LINZ will provide digital licenses for registration certificates for solicitors wishing to register electronically. It is envisaged that both parties wishing to effect settlement will log into an electronic work group, and settle and register electronically simultaneously. This procedure will be trialed latter this year with implementation mid 2003

We are hearing from a number of our clients, concerned that they may be forced into having to settle and register electronically. Although the Act allows for electronic lodgment to be compulsory, we cannot foresee this happening within this decade (and perhaps the next).

We have discussed the fundamentals with the Registrar General of Land and are now confident that should you wish to utilise the benefits of same day electronic settlement and lodgment (once available), that we will be in a position to act as your agents upon an undertaking from you for us to act within the electronic work group on your behalf.

The Registrar General of Land is now in the process of adopting an audit process for those lodging electronically, as the registration certificate also enables you to execute electronically on behalf of your client. Once the Audit process is complete and documented we will initiate a system process and advise on how we will handle this type of lodgment for you with out your need to have a digital registration certificate.

We want to reassure you that there will continue to be registration as we now know, and should parties for the other side of the settlement or your clients wish to settle and register electronically we will be able to act for you to allow electronic settlement and registration to take place.

Remember our core focus is to help you help your clients, we will continue to keep you informed through out the trial period and as information comes to hand.