The new Client Authorisation Form explained
Over recent times Conveyancing has seen many changes as property transactions for the sale and purchase of property transitions into the online world.
Recent OFRM blogs have discussed some of these changes, such as the online settlement platform PEXA and the new State Revenue Office all-in-one online duties form.
Another recent change that has yet to be fully discussed is the requirement for lawyers to have their clients sign a Client Authorisation Form.
What is a Client Authorisation Form?
The Client Authorisation Form makes the online systems work. It is a one page document that once signed by purchasers/vendors, authorises lawyers to do the following on their behalf:
- Sign necessary documents on behalf of the client;
- Lodge documents with Land Victoria;
- Undertake the financial settlement of the property transaction;
- Anything else necessary to complete the transaction.
When are they required?
For settlements that take place online, all documents get prepared and signed online by the lawyer, and therefore a Client Authorisation Form is obviously required in these matters. However, even for those settlements that are still occurring in the old paper format, a Client Authorisation Form is now required as lawyers must sign Transfers of Land of behalf of their clients. Therefore, Client Authorisation Forms are required for all Conveyancing matters.
Signing a Client Authorisation Form at the beginning of your property transaction will save you additional trips into the office throughout the settlement period, allowing you more time to focus on moving out or moving in to your new home! Our Conveyancing team are always available to answer any questions our clients have on 03 5445 1000.