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Lenders must develop ID verification policies for electronic conveyancing

Posted on: September 6 2013

A precursor to a modern electronic titling and conveyancing system is verified identity of the title holder. The paper duplicate title will vanish over time.

Failure to take reasonable steps to verify the identity of a mortgagor in an electronic conveyancing process may result in the mortgage being deregistered. This is the approach being taken by the South Australian Registrar General for electronic conveyancing, according to a recent report.

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