All Help Centre posts

Re: Lease (NSW) | Help Centre

Amanda19 — Sun, 14 Feb 2021 22:13:46 GMT

Thanks Nancy!

Re: Lease (NSW) | Help Centre

NancyMadafferi — Fri, 12 Feb 2021 05:48:10 GMT

Thanks for reaching out.

You absolutely can create a Lease without the Lessee being represented now. I suggest withdrawing the invitation to the Lessee and if you have created the Lease document, select the action cog beside the Lease and 'Remove Document'.

We have this handy article on our Community Help Centre that will step you through how to complete the new Lease:

https://community.pexa.com.au/t5/Help-Centre/Lease-NSW-Help-Centre/ba-p/13758

If you have any questions or concerns don't hesitate to tag me in your reply.

Cheers

Nancy

Re: Lease (NSW) | Help Centre

Amanda19 — Fri, 12 Feb 2021 02:05:50 GMT

I opened a Workspace in December representing the Lessor and issued an invitation to the Lessee's solicitor. Now that we can prepare a single-party Lease, can I withdraw the invitation (they haven't accepted yet) and continue on my own as if I had opened the workspace today as a single-party Lease?

Re: Adjustments and Payments view in the Financial Settlement Schedule

Marty — Wed, 10 Feb 2021 03:46:40 GMT

Hi ,

You definitely don't have to use the adjustments feature if you switch on Adjustments & Payments. You can skip past that section and go straight to the destination line items.

I hope that helps.

Marty

Re: Adjustments and Payments view in the Financial Settlement Schedule

Essem — Fri, 05 Feb 2021 03:40:09 GMT

If I switch to Adjustments & Payments tab do I HAVE to use the adjustment feature? I only want to be able to see the destination lines for Vendor and Purchaser, which when using in Destinations tab only sometimes are allocated to the other party and can't be corrected resulting in unallocated funds showing in error. So I only want to use this feature of this view and not the Adjustment calculation part. Is that possible?

Re: Survivorship (WA) | Help Centre

RyanC — Thu, 04 Feb 2021 04:20:53 GMT

Further to this, Landgate have updated their e-con eligibility criteria to cater for this new scope, which can be found here (see last page):-

https://www0.landgate.wa.gov.au/__data/assets/pdf_file/0016/16450/Eligible-documents-for-paperless-conveyancing.pdf

Please refer to Landgate's Practice Manual for their process requirements for Survivorship Applications:-

https://www0.landgate.wa.gov.au/for-individuals/Land-Transactions-toolkit/land-titles-registration-policy-and-procedure-guides/practice-manual

Landgate have also advised that when inputting the document reference details for the Death Certificate on the Application, the registration number of the Death Certificate is to be used, not the certificate number:-

Attaching your Statutory Declaration to your Survivorship Application is required, though unlike the Death Certificate, it does not need to be referenced as evidence within the actual Survivorship Application at this stage.

Re: Accept or Change Settlement Date and Time | Help Centre

CarterV — Mon, 01 Feb 2021 03:34:05 GMT

Thank you that helps a lot!

Vanessa

Re: Accept or Change Settlement Date and Time | Help Centre

Marty — Thu, 28 Jan 2021 05:50:39 GMT

Hi ,

As of last week (release 13) settlement time changes (not date) no longer require your acceptance, as long as you'd accepted the prior settlement date/time. Your acceptance (or non-acceptance) is carried over. This applies to settlement times being pushed back as well as brought forward. You'll still get an email notification informing you of the settlement time change, and can still log into to PEXA to change the time or unaccept it (set to 'pending'). But if you're happy with the new settlement time, no action is required from you.

This 'no action required' scenario is where we're looking for efficiencies. Saving you going into the workspace where you're ok with the new time.

You can read more about this change in the R13 release notes.

If you aren't comfortable with this change and would like PEXA to require your acceptance of any and all settlement time changes, you can disable this feature in your Subscriber settings under "Remember my Settlement Acceptance if only the Settlement time changes (not date)".

I hope that helps.

Martin

Re: Accept or Change Settlement Date and Time | Help Centre

CarterV — Thu, 28 Jan 2021 04:51:13 GMT

Hi ,

Could you please advise whether an acceptance of a change in time (not date) for settlement on PEXA is required by all parties? Or is it the case that if a settlement date has been accepted, a change in time can be unilaterally made by a party without the need for other parties to accept the change in time. This seemed to happen in a settlement we had yesterday (where the purchaser's solicitor changed the time from 2.30pm to 12pm and PEXA then seemed to accept that change).

Thanks,

Vanessa

Survivorship (WA) | Help Centre

Saysa — Tue, 19 Jan 2021 22:26:38 GMT

Last updated: 19 January 2021
Jurisdiction: WA

Overview

If a joint tenant is deceased and there is at least one surviving tenant, then the surviving joint tenant(s) can make an application to the Land Registry to have the deceased’s name removed, so that only the surviving proprietor’s name is on the Title.

In WA, a Survivorship:

Can be processed for Joint Tenant Title,
Can be processed for Tenants in Common Titles that have Joint Tenants groups,
All surviving Joint Tenants must be represented in the Survivorship.

A Survivorship can be lodged as a standalone, or in combination with any of the following document types supported in PEXA:

Discharge of Mortgage
Withdrawal of Caveat
Mortgage
Transfer

Evidence Requirements

When lodging a WA Survivorship in PEXA, you are required to upload evidentiary material. You may select more than one evidence and for each evidence that you select, you must upload and attach supporting documents. PEXA accepts the following evidence types:

Death Certificate
Coroner’s Report
Grant of Probate
Letters of Administration
Other
Note: If selecting the evidence type of Other, you must also upload and attach a Statutory Declaration.

Steps

Create the Workspace in the role of Proprietor on Title with the following settings:
- Financial Settlement = No
Check that the details returned from the Land Registry are correct:
The tenancy type is Joint Tenants or Tenants in Common with a Joint Tenancy group.
Mark the Proprietor as deceased:

Navigate to the Participants screen.
Select Edit Party next to the deceased party.
Select The Proprietor is Deceased.
In the Details of Death section, click Add Details of Death and enter the date of death:
- Approximate date,
- Actual date,
- Date range, or
- Date description.
Click Confirm.
Save the changes.
The Proprietor now appears as deceased on the Participants screen.
Repeat Step 3 for all deceased Proprietors.

Represent the surviving tenant:

On the Participants screen, select Edit Party next to the surviving party.
Select I Represent this Party.
Check that the Party Details are correct, and provide information where required:
- Name
- Date of Birth
- Preferred contact phone number
- Address Details
Select Save
The Proprietor is now shown as represented on the Participants screen.
Repeat Step 4 until all surviving Proprietors are represented.

Create the Survivorship document:
Note: You can add multiple deceased parties to a single Survivorship in WA.
1. Navigate to the Documents screen and then select Create Document > Survivorship.
  Some details on this form are pre-populated from the information you entered on the Participants screen.
2. Check the Land Title.
  If there is a single title then title will be automatically populated. Otherwise, select the correct title from the list.
3. Under Deceased Proprietor Details, check that the deceased party is correctly listed and the following details are correct and entered:
  - Details of Death.
  - Evidence Type: To add an evidence, select an  Evidence Type then enter the Evident Document Reference ID and Evidence Date.
    You may add more than one evidence type for each deceased party by clicking Add Evidence.
  - Address: Either select an address from the drop-down or add a new one by clicking +.
4. Check that the Applicant Details are correct and an address is entered.
  All surviving tenants are required to be represented (in Step 4) and their details will be listed here.
5. Save the document.
  
  The Document Status will be Prepared - awaiting attachment and won't move to Prepared until you upload and attach the evidence files.
Upload and attach the evidence:
Each evidence must have a corresponding file attached to it.
1. Navigate to the Files screen.
2. Upload your file:
  - Click Upload then Browse for your file.
  - For File Description, select a file type under Land Registry Attachment Files that corresponds with your evidence type.
    Note: If you have selected an evidence type of ‘Other’ then you must:
    - Select Land Registry Attachment Files > Other as the File Description
    - Additionally, upload and attach a Statutory Declaration.
  - Click Upload.
3. Attach your file:
  - From the Action column, select Attach.
  - Select the Survivorship document.
  - Click Attach.
    
    The Document Status should be Prepared.
View, Sign and Lodge the Survivorship:
Note: The document status related to the Survivorship must be Prepared and Successful before you can sign the documents.
If you have more than one Survivorship in the Workspace, ensure to check the order of lodgement.
1. On the Document screen, select the View against the Survivorship(s) and review the details.
2. On the Document screen, select the Sign against the Lodgement Instructions.
3. Select the checkboxes for Lodgement Instructions and Survivorship(s) for all deceased Proprietors.
4. Click Sign Documents.
  The documents will be verified with the Land Registry and once they are successfully verified and signed, you can go ahead and lodge the documents.
5. Select Submit for Lodgement to lodge the documents with the Land Registry.

Re: Introducing PEXA Planner

Saysa — Wed, 25 Nov 2020 20:30:42 GMT

PEXA Planner Release 4.0

PEXA is pleased to present PEXA Planner Release 4.0, scheduled for business go-live on 26 November 2020.

Feature updates

New Dashboard: POT Daily Settlements
New filter: ESS Workspaces

New Dashboard: POT Daily Settlements

Based on user feedback, we created a new POT Daily Settlements dashboard. This dashboard was specifically designed for Planner users who are acting in the role of Proprietor on Title, within a PEXA Workspace and offers a holistic view showing Workspaces that have funds verified for sign-off. The POT Daily Settlements dashboard also provides Proprietors on Title transparency on the status of their Workspaces, including what is outstanding to reach an on-time settlement.

The POT Daily Settlements dashboard incorporates some features from other dashboards to produce a personalised view with meaningful data for users in the role of Proprietor on Title.

The new filtering options on this dashboard includes:

My settlement date status – Allows you to filter Workspaces where the settlement date has been accepted by your organisation.
All settlement date status – Allows you to filter by Workspaces where all participants have accepted the proposed settlement date.
Source funds – Allows you to filter by Workspaces based on whether funds have been verified or not.

New filter: ESS Workspaces

To support the new Enhanced Settlement Summary (ESS), which is currently being piloted in PEXA Exchange, Planner R4.0 has added a new ESS Workspace filter that lets you easily identify Workspaces where ESS is enabled. You can filter by the following options:

All – Displays all Workspaces.
No – Displays Workspaces where ESS is not enabled.
Yes – Displays Workspaces where ESS is enabled.

The ESS Workspace filter appears on the following dashboards within Planner:

Daily Settlements
Daily Settlements Detail
Get to Ready
Time Slot Planner
Pipeline
Pipeline Detail
POT Daily Settlements

Dentons Transfer Checklist | Help Centre

Jarrod_McAleese — Tue, 15 Dec 2020 02:08:47 GMT

Dentons has provided the following information and tips when completing a transfer as vendor or purchaser in matters it is representing:

ING Bank
Macquarie
Teachers Mutual Bank
Qudos Bank
Bendigo and Adelaide Bank

Transfer - Sale (Mortgagee on Title)

How to initiate a Sale Request

Dentons requests that the practitioner sends the Discharge Authority directly to the Lender.
Note that the Lender is not part of the PEXA Workspace when Dentons is acting on their behalf.

Lender Contact Details:

ING
- (T) 133 464
- (E) mortgage.discharges@ing.com.au
Macquarie Bank
- (T) 1800 007 722
- (E) clientservices@mortgageinfo.com.au
Bendigo and Adelaide Bank
- (T) 1300 236 344
- Please return the signed and completed Discharge Authority to your local Bendigo Bank branch
Qudos Bank
- (T) 1300 747 747
- (E) loandischarge@qudosbank.com.au

PEXA Invitation Request

Please send as early as possible or at least 10-15 days prior to settlement
Settlement days set shorter than 15 days may impact settlement times

Requested information to include in the PEXA invitation:

Denton’s Reference (if available) z
Lender Reference (loan number)
Mortgagor Names
Address of property

Preferred Settlement times: (AEST/AEDT)

Dentons preferred settlement time is 12pm onwards

Settlement Date Acceptance

The requested settlement date will not be accepted until Dentons have received instructions and the security packet from the Lender. Please note: attaching the discharge authority to the workspace does not allow Dentons to formally accept the date unless instructions have been received.
Where security documents have not been received within 5 business days of settlement, Dentons may need to push the settlement date out.

DENTONS Payout Process

Dentons does not receive Indicative payout figures.
Final Payout Figures are confirmed on the morning of settlement by 11:30am
Please do not escalate unless final payouts are not in the PEXA workspace post 11:30am the day of settlement

Surplus Funds

Dentons preference is for the practitioner to manage any surplus funds in PEXA
Surplus funds can only be accepted if the Lender agrees to accept surplus funds
- ING –matter by matter basis

Transfer - Purchase (Incoming Mortgagee)

How to initiate a Purchase request:

Dentons will accept a workspace invitation once the lenders instructions have been confirmed.

Dentons cannot accept settlement date and time until all loan and mortgage documents have been received from the Borrower and all the Lender’s requirements have been met.

When all documents have been received by Dentons, we require four business days to book in the settlement date and time.

Dentons requests the following details on the PEXA invitation:

Dentons Reference (if available)
Lender name
Loan number/ Application number
Full name of the borrower
Security Address

Preferred Settlement Times (AEST/AEDT)

Dentons preferred settlement time is 3pm onwards.

Please note: On settlement day, Dentons requires lender funds to be cleared in their trust account to be able to verify for funds for settlement.

Transfer of Land (TOL)

Please ensure the TOL document is prepared as soon as possible, preferably at the time of workspace creation, or at least 5 business days prior to settlement.

Please notify Dentons if the TOL is changed, as we will need to seek clarification from the Lender prior to proceeding to settlement.

Funds Available for Settlement

The source funds are uploaded to the PEXA workspace when all relevant loan documents have been signed, completed and returned to Dentons; together with all pre-settlement conditions being met.

Requirements before Booking Settlements

All loan and mortgage documents must have been received from the Borrower and all the Lender’s requirements met before booking a settlement. Please refer to your individual initial letter for the Lenders settlement requirements.

Once the loan and mortgage documents and requirements are received – they will be processed by Dentons within 48 hours.

Total Funds Required for Settlement

Please provide total funds required for settlement as soon as possible or ideally 2 days prior to settlement
If the Lender has the capability to provide Borrower Funds for settlement and the Borrower has provided the required authority to debited the account, the account details will be updated in PEXA on the settlement date

Dentons provide the total funds for settlement.

PEXA Update December 2020: If a workspace is settling using the new Enhanced Settlement Summary (currently being rolled out via a phased deployment) TFRS will not be required. The alternative requirements are to agree funds due for settlement and select ready for shortfall or surplus. More details are available here: community.pexa.com.au/t5/Help-Centre/PEXA-s-Enhanced-Settlement-Summary/ba-p/20957. Dentons will be updating this checklist to reflect the new ESS process in early 2021.

Settlement Date Acceptance

Dentons will accept the settlement date and time when all pre-settlement conditions have been met.

Dentons require at least four business days' notice to book a settlement. Failure to meet this timeframe may impact Dentons’s ability to settle on the preferred settlement date and time.

Loan Proceeds

Loan Proceeds will be finalised and confirmed by Dentons at least 1hr prior to the scheduled settlement time unless otherwise indicated.

Note: Late receipt of documents, pre-settlement conditions and funds can impact this timeframe.

Shortfall of Funds

Dentons may not hold authority to debit a borrowers account for shortfalls of funds required for settlement.

If the borrower holds an existing account with the Lender, please contact their broker/Lender to discuss further options and/or provide the required completed and signed authority to Dentons.

Day of Settlement

Please have your documents and your adjustments on the financial settlement schedule finalised prior to 10am on the day of settlement.

Any amendments made to the financial settlement schedule (post Dentons or practitioner adjustments being signed off) will result in Dentons needing to re-confirm loan proceeds available which could cause settlement delays.

The financial settlement schedule in the workspace will only be verified and signed once funds have been received (usually after 1:30pm) from the Lender.

Please leave a comment or question below if you have found this useful, or if you would like further information.

Re: Bank Transfer Checklists (tips) | Help Centre

Kate_Camilleri — Thu, 05 Nov 2020 06:09:35 GMT

Hi Jackio,

Thanks for your post. As per the Transfer Guidelines, Banks are required to provide an indicative payout figure 16 business hours before settlement and a final payout figure by 10am on day of settlement. They receive weekly reporting on how wel they have aligned to this requirement. See here an earlier post by Westpac/St George on why payout figures are updated/finalised on the day of settlement.

Thanks,

Kate.

Re: Bank Transfer Checklists (tips) | Help Centre

jackio — Tue, 03 Nov 2020 06:30:58 GMT

A helpful tool

However,

Banks used to have to provide payout figures at least 48 hours prior to settlement not by 10am on the day of settlement. This is incredibly frustrating as the principals / partners who are required to sign off on matters are not always available during the time when the banks finally load payout figures and settlement times.

All financial institutions should be able to load information at least 12 - 24 hours prior to settlement to allow timely sign offs of matters

Re: Part Tenancy Transfer (SA) | Help Centre

AArace — Mon, 02 Nov 2020 04:08:07 GMT

HI, am I correct that if we sever joint tenancies due to separation then we only act for our client. how do you complete a sever of joint tenancy when we only act for one party? Thanking you in advance

Priority Notice | Help Centre

Saysa — Fri, 16 Oct 2020 02:35:08 GMT

A Priority Notice may be lodged in VIC, NSW and QLD to protect the interest of either an Incoming Proprietor or Incoming Mortgagee in either a PEXA or paper transaction and assist with fraud prevention.

Bank of Queensland | Transfer Checklist

Jarrod_McAleese — Tue, 13 Oct 2020 04:36:13 GMT

Transfer - Sale (Mortgagee on Title)

How to initiate a Sale Request

Please provide or advise the client to complete and send the completed Discharge Authority to BOQ.

Via email: BCSC.PEXAIncomingSetts@boq.com.au.
Attach a copy of the Discharge Authority into the PEXA Workspace when invitation is sent or as soon as possible

Note: Please advise your customers to contact their respective BOQ banker/relationship person to initiate the Release request. The Discharge Authority form must be completed in full and executed correctly.

PEXA Invitation Request

Please ensure the PEXA invitation is sent as early as possible or at least 15 days prior to settlement with Discharge Authority uploaded into PEXA.
Settlement days set shorter than 15 days may impact settlement time.

Accepting Settlement Date/Time

The requested settlement date will not be accepted until the discharge authority has been received and all pre-settlement conditions have been met.

Where documents or pre-settlement conditions have not been received before 5 business days of settlement, BOQ may push the settlement date out.

If the Discharge Authority (DA) is not received by BOQ >5 days out from proposed Settlement, then BOQ will be moved out by another 5 days to allow time for receipt and processing of the request.
If the Discharge Authority (DA) is received earlier and wish to move the date forward, this is to be agreed by both parties.

BOQ Payout Process

Indicative payout figures are provided by BOQ banker/relationship person.
Final Payout Figures are confirmed on the morning of settlement after 10:30am.
Please do not escalate unless final payouts are not in the PEXA workspace post 10:30am the day of settlement.

Surplus Funds

BOQ preference is for the practitioner to manage any surplus funds in PEXA

Transfer - Purchase (Incoming Mortgagee)

How to initiate a Purchase request:

To avoid settlement delays please ensure an invitation request has been sent as soon as possible or at least 15 days prior to settlement and all the relevant customer information is provided up front.

Information required on a PEXA invitation:

When sending an invitation please include as much information about the customer/transaction as possible and as a minimum include the following:

Full name of the customer
Address of property
Application number/reference number

Note: BOQ will accept all invitations by default and will request additional information via a conversation if a customer file cannot be located.

Accepting Settlement Date/Time

Spread equally across the day.

Transfer of Land (TOL)

Please ensure the TOL document is prepared as soon as possible, preferably at the time of workspace creation, or at least 5 business days prior to settlement and must be satisfactory to progress to booking stage.

Funds Available for Settlement

On day of Settlement BOQ will load funds available that BOQ hold to balance against the required Destinations. This amount will include all financed fees applicable to the transaction.

Shortfall of Funds

Shortfall position should be based on funds available vs funds required. Should there be a shortfall or discrepancy the standard shortfall email will be issued to the corresponding BOQ branches.

Settlement Date Acceptance

The requested settlement date will not be accepted until all customer documents have been returned and all pre-settlement conditions have been met. 2 clear business days’ notice required from when workflow is received.

Enhanced Settlement Summary workflow

Saysa — Mon, 12 Oct 2020 00:52:05 GMT

Overview

The Enhanced Settlement Summary (ESS) has been redesigned to reduce friction so that you can experience a simpler, more streamlined way to completing the financial settlement schedule.

As part of the redesign, you’ll notice a revamped interface that includes new features and panels. We have also introduced some calculations enabling practitioners and financial institutions to easily enter funds and complete the financial settlement schedule with more accuracy and less dependency. We have also streamlined some tasks to reduce manual data entry.

In this article, we’ve added a new ESS workflow that provides guidance on when financial tasks should be completed, and by which Workspace participant.

Please note, the timeframe in this ESS workflow should be used as a guide as it may be impacted by other factors.

ESS workflow

Steps

General ESS workflow

Five days from settlement

Accept the proposed settlement date and time
Enter & agree on the Balance due to Vendor amount
Assign shortfall responsibility
Enter loan proceeds
Confirm accounts

Three days from settlement

Assign Vendor surplus responsibilities
Enter line items
Complete purchaser funds

One day from settlement

Enter purchaser shortfall amount
Enter final loan payout figure
Complete vendor funds

Day of settlement

Enter vendor surplus funds
Check funds are balanced
Sign Financial Settlement Schedule

1. Accept the proposed settlement date and time

Role: All

All parties are required to accept the settlement date and time.

On the Settlement Summary tab, click Accept Settlement Time.
The settlement status changes from Pending to Accepted.

2. Enter the Balance due to Vendor amount

Role: Proprietor on Title and Incoming Proprietor

The Balance due to Vendor* is an agreed amount (between the Proprietor on Title and Incoming Proprietor) that the vendor will receive from the purchaser. This is calculated by purchase price, minus deposit paid, plus/minus net adjustments.

On the Vendor Funds panel, one proprietor (either the Proprietor on Title and Incoming Proprietor) clicks Add.
The Balance due to Vendor section is highlighted in yellow to indicate that you can edit or update this section.
Type in a Balance due to Vendor amount then click Save.
This Balance due to Vendor status is automatically set to Pending Others until it is confirmed by the responding participant.
After the Balance due to Vendor amount has been entered by a participant, the responding participant can either agree to or edit this amount:
- To agree to this amount, click Confirm on the Balance due to Vendor amount confirmation dialog (if settlement is within 5 days).
- To edit this amount, click Edit and enter another amount.
  This will prompt the first participant to review the updated amount and the Balance due to Vendor status is set to Pending Others until confirmed by the first participant.

3. Assign shortfall responsibility

Role: Incoming Mortgagee

The Incoming Mortgagee specifies who holds an authority to debit the Customer’s account for Purchaser’s Equity (shortfall).

On the Transfer Indicators panel, specify who holds client authority:
- Yes: The Incoming Mortgagee holds client authority.
- No: The Incoming Mortgagee does not hold client authority.
Optionally enter the last four-digits of the account that the shortfall will be drawn from.

4. Enter loan proceeds

Role: Incoming Mortgagee

Enter the loan proceeds in the Sources view of the Financial Settlement Schedule after the loan documents have been received.

5. Confirm accounts

Role: Incoming Mortgagee and Mortgagee on Title

The Financial Institutions participants are required to confirm the shortfall and surplus accounts outside of PEXA:

The Incoming Mortgagees confirms the shortfall account.
For Mortgagees on Title confirms the surplus account.

6. Assign Vendor surplus responsibilities

Role: Proprietor on Title or Mortgagee on Title

On the Transfer Indicators panel, click Assign to me to assign the responsibility for directing the vendor surplus to yourself.

7. Enter line items

Role: Proprietor on Title and Incoming Mortgagee

To enter payment destination line items:

Select the Destinations or Payments and Adjustments tab.
Click Add Destination.
Add destination line items or add adjustments.

To enter source line items:

Select the Sources tab.
Click Add Source.
Add source line items.

8. Complete purchaser funds

Role: Incoming Proprietor

Complete the purchaser funds to determine the Purchaser Funds Required to Settle amount, which is based on the agreed Balance Due to Vendor amount + Purchaser Payment Directions amount.

Depending on who holds client authority for shortfall, the Incoming Proprietor completes the purchaser line items:

Where the Incoming Mortgagee holds client authority for shortfall

On the Purchaser Funds panel, click Ready for shortfall to complete the purchaser line items.
This notifies the Incoming Mortgagee that the Incoming Proprietor has entered their financial line items and the Incoming Mortgagee may now add or update the shortfall amount in their source line items (step 10).

Where the Incoming Mortgagee does not hold client authority for shortfall

On the Purchaser Line Items panel, click Mark as complete to indicate you have completed the purchaser line items.
On the Purchaser Funds panel, click Add as shortfall or Update shortfall to add/edit the shortfall amount.
Upon clicking, you’ll be taken to the Add/Edit Source line item entry where you can review or edit the pre-populated shortfall amount.

When the purchaser’s line items have been completed, the Purchaser funds required to settle will be the amount required by the Incoming Mortgagee.

9. Enter purchaser shortfall amount

Role: Incoming Mortgagee or Incoming Proprietor

Where the Incoming Mortgagee holds client authority for shortfall

Where the Incoming Mortgagee is providing the purchaser’s equity (shortfall), and the Incoming Proprietor has clicked Ready for shortfall, the Incoming Mortgagee may go ahead to confirm the proceeds:

On the Purchaser Funds panel, click Add as shortfall or Update shortfall to add/edit the shortfall amount.
Upon clicking, they’ll be taken to the Add/Edit Source line item entry where they can review or edit the pre-populated shortfall amount.

Where the Incoming Mortgagee does not hold client authority for shortfall

On the Purchaser Funds panel, the Incoming Proprietor clicks Add as shortfall or Update shortfall to add/edit the shortfall amount.
Upon clicking, you’ll be taken to the Add/Edit Source line item entry where you can review or edit the pre-populated shortfall amount.

10. Enter final loan payout figure

Role: Mortgagee on Title

Enter the final loan payout figure in the Destinations view of the Financial Settlement Schedule.

11. Complete vendor funds

Role: Proprietor on Title

Complete the vendor line items where the Mortgagee on Title is directing the surplus funds; otherwise skip to the next step.

On the Vendor Line Items panel, click Ready for surplus.
This indicates to the Mortgagee on Title that the Proprietor on Title has entered their financial line items.

12. Enter vendor surplus funds

Role: Proprietor on Title or Mortgagee on Title

The participant responsible for directing the surplus funds completes this step.

On the Vendor Funds panel, click Add as vendor funds or Update vendor funds.
Upon clicking, they’ll be taken to the Add/Edit Destination line item entry where they can review or edit the pre-populated surplus amount.

13. Check funds are balanced

Role: Proprietor on Title and Incoming Proprietor.

On the Settlement Summary tab, check that the Total Sources and Total Payment Direction amounts are balanced, and the funds balance bar is green.

14. Sign Financial Settlement Schedule

Role: All

On the Settlement Summary screen, select Sign from the Actions cog.
Click Sign.

*The term 'Balance due to Vendor' differs based on your jurisdiction:

NSW—Amount due on Settlement
VIC—Balance due to Vendor
QLD—Balance due to Vendor
SA—Balance due to Vendor by Purchaser
WA—Balance due to effect Settlement
ACT—Amount due to Seller

Re: PEXA's Enhanced Settlement Summary

DMc — Wed, 18 Nov 2020 01:30:59 GMT

I would suggest for the sake of clarity at least for WA terminology... #WATranslation

wrote:
* Note: In this release notes, we’re referencing this amount as the ‘Balance due to Vendor’; however, the terminology differs in each jurisdiction:

NSW—Amount due on Settlement

ACT—Amount due to Seller

VIC—Balance due to Vendor

QLD—Balance due to Vendor

SA—Balance due to Vendor by Purchaser

WA—Balance due to effect Settlement

WA previously used the same terminology as SA i.e. Vendor (for POT) & Purchaser (for IP), but now refer to Seller (for POT) & Buyer (for IP) so most likely use either;

WA —'Balance of Purchase Price' -per 2018 REIWA Joint Form of General Conditions cl. 3.6 or
WA —Balance due to Seller(POT) by Buyer(IP) to Seller Settlement Agent (SSA)

Since the 'Balance due to effect settlement' would be different based on if you are talking to Buyer, Seller, or the Other Settlement Agent.

Cheers for the video.

Re: Withdraw a Caveat | Help Centre

karenm — Wed, 30 Sep 2020 02:02:10 GMT

Is it possible to lodge a NSW Withdrawal of Caveat where the Caveat is only over 1/100 share of the land in NSW?

Enhanced Settlement Summary | Support for banks

Jarrod_McAleese — Mon, 05 Oct 2020 00:38:42 GMT

Hi Community,

Over the past 12 months, PEXA has been developing new functionality to help streamline the completion of financial settlement in the platform.

Since April, banks and practitioners have piloted a new Enhanced Settlement Summary (ESS) – and we’re now excited to be proceeding with a phased deployment of this functionality.

Phase 1: From 12 October 2020 the new ESS will be live in selected Workspaces:

where Workspaces are created in relation to a South Australian property, or;
where the Subscriber has selected to have the new ESS switched on regardless of jurisdiction.

What changes will Phase 1 include for Financial Institutions?

Workspaces with the new ESS switched on, as per the above conditions, will have:

The ability to indicate Yes/No if your organisation is collecting Surplus funds (instead of a conversation and similar to the current indicator for providing Shortfall).
If providing Shortfall or collecting Surplus funds, the ability to access these amounts as calculated by the system and confirmed by the Practitioners (instead of the current "Total Funds Required to Settle" (TFRS) and Conversations).

Phase 2: Deployment to all Workspaces (targeting Feb 2021, with more information to follow when available)

Support

To help ensure a smooth transition, we’re providing a number of resources to support financial institutions and your operational teams.

Attached, you’ll find:

An Incoming Mortgagee help card
A Mortgagee on Title help card

FI webinar

Below you can watch our ESS webinar, run by our Training team.

Please also see below and attached FAQs.

Q: Would the Financial Institution receive a notification via email when practitioners hit the "Ready for shortfall" button?

A: The notification is currently generated on the new task within the Workspace. Email notifications are targeted for a November release.

Q: Will ‘Ready for Shortfall’ and ‘Ready for Surplus’ be included in PEXA Planner?

A: PEXA Planner’s ‘Get to Ready’ dashboard will have additional filters to manage the Ready for Shortfall/Surplus. Date to be confirmed.

Q: Will practitioners be trained to use ‘Ready for Shortfall’ and ‘Ready for Surplus’ buttons and will there be a time frame that they will need to notify Financial Institutions that they are ready for shortfall?

A: There is no set time frame, however, training campaigns including webinars, help cards, PEXA community posts, specifically related to confirmation of shortfall/surplus and timeframes have and will continue to be socialised with the practitioner market.

PEXA is also including interactive help in the workspace for all Subscribers. This will include various pop ups and banners prompting actions to confirm ready for shortfall/surplus prior to day of settlement when possible.

Q: Can the Incoming Mortgagee still load a source line for Lodgement Fees?

A: There is no change to the ability to add any source line items required.

Q: If ‘funds required’ is being auto calculated from figures input, do we anticipate seeing confirmation of shortfall/surplus happening later in the workspace?

Currently practitioners can know the total funds, however, may not have the individual figures to auto-calculate (e.g. stamp duty not assessed). Total funds required to settle can still be manually input.

A: PEXA will monitor this carefully and can make necessary changes if this becomes a new trend of late confirmations. One of the issues right now is the TFRS tends to get changed a few times leading up to settlement. The ESS was designed to provide greater accuracy and confidence in the figures confirmed.

Q: If the practitioner has marked ‘Ready for Shortfall’ or ‘Ready for Surplus’ and not all documents are created, i.e. Mortgage or Discharge, will the shortfall or surplus will not yet be finalised?

A: Correct. This process remains the same. If documents are not created and the lodgement verifications has not run, the fees will not be generated and included in the confirmed amount.

Q: Will loan documents received, be automatically updated when Incoming Mortgagee creates a Mortgage?

A: Correct, there is no change to existing functionality. The loan documents received tick box will be selected once the mortgage has been created.

Q: Is the last 4 digits of the account number shown to all participants in the workspace?

A: The last 4 digits of the account will be displayed and seen by all participants.

Q: On 12 October, will all work in progress in SA workspaces have the Enhanced Settlement Summary (ESS) feature?

From the 12 of October new workspaces in SA will be using the new ESS.

Inflight workspaces settling on or after 26 October will also be transitioned to the ESS.
Inflight workspaces settling between 12 Oct and 26 Oct will remain on the current
view.

Q: If there is a shortfall for MOT, will this also be actioned in the same way that surplus is?

A: If there is a Vendor shortfall i.e. purchase price is less than loan pay out, the ESS calculations will highlight a shortfall.

Re: Introducing PEXA Key

MorganConveyancing — Mon, 28 Sep 2020 02:00:28 GMT

Can we send more than one request for funds to be transferred to our trust account?

Julie

Re: Transition from SettleMe to PEXA Key

MorganConveyancing — Mon, 28 Sep 2020 01:58:26 GMT

Hi. Can we send more than one request for proceeds to be transferred to our Trust Account? Thanks

Re: Transmission Direct to Beneficiary (NSW) | Help Centre

sharond1 — Wed, 23 Sep 2020 05:03:40 GMT

JLees - yes

Re: Transmission Direct to Beneficiary (NSW) | Help Centre

JLees — Tue, 22 Sep 2020 00:14:16 GMT

In our matter, there are 2 executors and both are also beneficiaries of the estate. Is one transmission to beneficiary workspace able to be used for both beneficiaries?

Re: Completing a Simultaneous Settlement | Help Centre

PennyR — Fri, 18 Sep 2020 00:11:09 GMT

Hi fgbaxter

No I didn’t get a reply however the solicitors acting on the purchase joined the Workspace as a linked settlement. In the end however the property being purchased was unable to be settled simultaneously as the vendor on my clients’ purchase were not ready on the day.

I have never had to do this in the reverse situation – may be the help desk or your PEXA specialist could be of further assistance.

Cheers Penny

Re: Completing a Simultaneous Settlement | Help Centre

fgbaxter — Thu, 17 Sep 2020 23:12:50 GMT

did you ever get an answer to this? I have the same question!

PEXA's Enhanced Settlement Summary

Jarrod_McAleese — Tue, 16 Feb 2021 03:00:34 GMT

UPDATE

R13.1.1 Upcoming changes

Please note, this section provides a high-level description of upcoming changes and will be finalised on release date.

New setting to indicate if transaction is a Sale or Purchase

To change this setting, open up a Workspace then navigate to Workspace Settings > Transaction Settings then click Edit.

Ability for Mortgagee on Title to assign surplus handing

Set up surplus handling

Navigate to Administration Tools > Manage Subscriber Details.

Scroll down to the Surplus Handling section and select one option:

Field	Description
Allow me to handle surplus using the “Assign to me” option	The Mortgagee on Title selects this option when they want the ‘assign to me’ feature available for all Workspaces. (Click image to enlarge)
Display a message to other subscribers that I do not normally handle surplus, but retain the option to “Assign to me”	The Mortgagee on Title selects this option when they do not normally handle surplus, however, they may want the option to overwrite this in the Workspace.
I do not wish to handle surplus. Display a message to other subscribers , and remove the option to “Assign to me”	The Mortgagee on Title selects this option when they do not handle surplus in any Workspace. Choosing this option displays the below banner. (Click image to enlarge)

Save the changes.

One of the most critical steps in the settlement process is ensuring the Financial Settlement Schedule (FSS) is balanced and correct, ahead of time. This is one of the biggest contributing factors to a successful on-time settlement.

Leading up to settlement, late adjustments, unbalanced figures and last-minute Workspace conversations can all impact member experience – on both sides of the transaction.

In response to member feedback, we have developed an Enhanced Settlement Summary (ESS) that will provide a more intuitive experience for practitioners and financial institutions. The Financial Settlement Summary will still exist, but a new Summary will assist with the calculations to populate it.

To facilitate a smooth transition, this will be rolled out in stages nationally, across three phases, with the first of these set for a business go-live of Monday 12 October 2020 in South Australia.

Part 1 (South Australia: 12 October 2020 and National: February 2021 – TBC): Launching a new transfer indicator panel, providing improved transparency of key responsibilities in the Workspace for all parties. In addition, the enhancements will deliver a streamlined approach to calculating both Vendor Surplus and Shortfall for the Total Funds Required to settle.
Part 2 (National: TBC): Delivering functionality enabling the Proprietor on Title representative to finalise their entries in the FSS, including the Vendor Surplus, without waiting for the Mortgagee on Title to finalise their loan payout figure.
Part 3 (National: TBC): Providing more clarity regarding purchaser shortfall required for settlement – in matters where the financial institution is responsible.

Below you'll find an overview of the new functionality. Financial institutions, we've curated a support page for you here: https://community.pexa.com.au/t5/Help-Centre/Enhanced-Settlement-Summary-Support-for-banks/ba-p/21168

Functionality overview

Introducing the Enhanced Settlement Summary

The Enhanced Settlement Summary tab has been redesigned to reduce friction so that you can experience a simpler, more streamlined way to completing the financial settlement schedule.

A complete view of settlement funds

One of the notable improvements in the Enhanced Settlement Summary tab is the way the funds are displayed and laid out. There is a clear, side-by-side categorisation and itemised view of funds for both the incoming and outgoing parties, which replicates a balance sheet.

The Enhanced Settlement Summary gives you a complete picture of the purchaser’s and vendor’s funds, all on a single screen. The specific breakdown of funds in each category for each party gives everyone in the Workspace greater transparency on the settlement funds.

Information that is specific to your role will be automatically expanded, whilst items that belong to the other party will be automatically collapsed. To view or hide the itemised funds, you can expand or collapse the panels.

New Transfer Indicators panel

A new Transfer Indicators panel provides a summary view of all key tasks that relate to the financial settlement in the Workspace, giving you greater transparency over key responsibilities for Workspace parties.

The two new features in this panel include the ability to:

View who will be directing the vendor’s surplus funds. Either the Proprietor on Title or Mortgagee on Title can assign responsibility for this task to themselves.
View if the Balance due to Vendor* amount has been agreed by participants in the role of Incoming Proprietor and Proprietor on Title.

* Note: In this release notes, we’re referencing this amount as the ‘Balance due to Vendor’; however, the terminology differs in each jurisdiction:

NSW—Amount due on Settlement
VIC—Balance due to Vendor
QLD—Balance due to Vendor
SA—Balance due to Vendor by Purchaser
WA—Balance due to effect Settlement
ACT—Amount due to Seller

Balance due to Vendor

New to the Enhanced Settlement Summary tab is the mandatory Balance due to Vendor* amount. This is calculated by the purchase price, minus deposit paid, plus/minus net adjustments.

This figure is agreed by both the Proprietor on Title and Incoming Proprietor outside of the PEXA Workspace.

Either participant will have the ability to enter this amount into the PEXA Workspace. Providing the Balance due to Vendor into the Workspace provides PEXA the ability to:

Clearly indicate to all participants the amount of funds available for the Vendor to disburse, and
Use this figure to drive the Purchaser Funds Required to Settlement calculation (previously the Total Funds Required to Settle).

* Note: In this release notes, we’re referencing this amount as the ‘Balance due to Vendor’; however, the terminology differs in each jurisdiction:

NSW—Amount due on Settlement
ACT—Amount due to Seller
VIC—Balance due to Vendor
QLD—Balance due to Vendor
SA—Balance due to Vendor by Purchaser
WA—Balance due to effect Settlement

System calculations

As part of the Enhanced Settlement Summary, PEXA will calculate the vendor’s surplus, purchaser’s shortfall, and purchaser funds required to settle based on the line items entered by all participants and the Balance due to Vendor.

These calculated figures result in a more streamlined experience by providing a consistent way of calculating the vendor’s surplus funds and the funds required to settle by the purchaser.

Vendor’s funds:

Previously, the Mortgagee on Title and Proprietor on Title would initiate a Workspace Conversation where the outgoing Financial Institution was to collect all funds from settlement to confirm the amount to be disbursed. In the Enhanced Settlement Summary, the surplus amount is calculated by the system and agreed by the Practitioner, and the Mortgagee on Title is prompted to add the surplus amount into the Financial Settlement Schedule..
With the Enhanced Settlement Summary, the Unallocated Funds amount represents the remaining funds available to be disbursed to the Vendor. When the Proprietor on Title has completed entry of the Vendor’s line items, the Unallocated Funds calculation provides the Mortgagee on Title a clear indication of the remaining funds available. Once the Mortgagee on Title creates the loan payout(s) required, then the Unallocated Funds will be the amount required to be disbursed to the Vendor’s nominated account.

Purchaser funds required to settle:

Previously, the Incoming Proprietor had to manually calculate the Total Funds Required to Settle and enter this value into the PEXA Workspace.
With the Enhanced Settlement Summary, the Purchaser Funds Required to Settle (previously Total Funds Required to Settle) amount is now calculated by the system as the sum of the Balance Due to Vendor amount + Purchaser Payment Directions amount. When the Incoming Proprietor has completed entry of the Purchaser’s line items, the Purchaser funds required to settle will be the amount required by the Incoming Mortgagee.

Note: The system calculations are only available where there is a single Transfer, no more than one Discharge, and/or no more than one Mortgage in the Lodgement Case. In scenarios where there is more than one Transfer, Discharge, or Mortgage document within the same Workspace, PEXA is unable to determine the nature of the transaction. Therefore, the Incoming Proprietor is required to manually calculate and enter the Total Funds Required to Settlement amount into the Workspace.

Other improvements

Signing Status

The improved Settlement Signing Status panel now clearly shows the signing status of each participant in the Workspace. Adding the signing status provides more meaningful context where dual signatures are required (visible only to the Subscriber who has dual signing enabled).

Completing line items

Participants in the role of Incoming Proprietor are required to click the Ready for shortfall button (where the Incoming Mortgagee is handling shortfall) after they have completed entering their line items. This notifies the Incoming Mortgagee via a task and an on-screen button that they may now enter or update the shortfall amount.

Participants in the role of Proprietor on Title are required to click the Ready for surplus button (where the Mortgagee on Title is handling surplus) after they have completed entering their line items. This notifies the Mortgagee on Title via a task and an on-screen button that they may now enter or update the surplus amount.

Entering shortfall amount

If the Incoming Proprietor is responsible for providing shortfall funds, a button will appear on the Purchaser Funds panel, enabling them to either:

Add as shortfall where the Purchaser’s Equity line item has not been created, or
Update shortfall where an existing Purchaser’s Equity line item already exists.

When they click this button, they’ll be directed to the Add/Edit source line item entry screen with the shortfall amount pre-populated based on the new calculations built by PEXA.

Similarly, if the Incoming Mortgagee is handling shortfall, they will be presented with a task and either button above, after the Incoming Proprietor has clicked Ready for shortfall.

Entering surplus amount

If the Proprietor on Title is responsible for directing the vendor surplus funds, a button will appear on the Vendor Funds panel, enabling them to either:

Add as vendor surplus where the Vendor’s Funds line item has not been created, or
Update vendor surplus where an existing Vendor’s Funds line item already exists.

When they click this button, they’ll be directed to the Add/Edit Destination line item entry screen with the surplus amount pre-populated based on the new calculations built by PEXA.

Similarly, if the Mortgagee on Title is handling surplus funds, they will be presented with a task and either button above, after the Proprietor on Title has clicked Ready for surplus.

More details will come over the coming days, but in the meantime, please visit the Enhanced Settlement Summary site to learn more about this feature or join the pilot group.

Enhanced Settlement Summary workflow

View instructions

Navigating the Enhanced Settlement Summary tab

The Enhanced Settlement Summary tab has been redesigned to reduce friction so that you can experience a simpler, more streamlined way to completing the financial settlement schedule.

Here's a closer look:

New icons have been added to make it easier for you to visually ascertain the status of the financial settlement schedule.
Information that is specific to your role is automatically expanded, whilst items that belong to the other party are automatically collapsed so you can focus on your tasks.
Tasks that are applicable to your role are highlighted in yellow to draw attention to what's relevant to you.

1. Funds balance bar

A new bar with a visual indicator enabling you to quickly see if the purchaser’s and vendor’s funds are balanced.

2. Transfer Indicators panel

A new panel showing a summary of key indicators that relate to the financial settlement in the Workspace, giving you greater transparency over key responsibilities for Workspace participants.

3. Purchaser summary column

A new column showing the amounts payable by the purchaser. It shows all purchaser related line items on one screen and comprises of two panels:

3a—Purchaser Funds: Shows a high-level breakdown of funds required from the purchaser to settle the transaction.
3b—Purchaser Line Items: Shows a detailed breakdown of the purchaser’s funds.

4. Vendor summary column

A new column showing the amounts payable by the vendor. It shows all vendor related line items on one screen and comprises of two panels:

4a—Vendor Funds: Shows a high-level breakdown of funds required from the vendor to settle the transaction.
4b—Vendor Line Items: Shows a detailed breakdown of the vendor’s funds.

5. Stamp Duty panel

The Stamp Duty panel (or Transfer Duty panel in QLD and WA) shows the stamp duty status within the Workspace.

Note: This panel does not display in an ACT Workspace as Stamp Duty is not applicable in ACT.

6. Settlement Signing Status

An improved settlement signing panel that incorporates new icons to show the signing status of each participant in the Workspace.

FUNDS BALANCE bar

A new bar giving you a quick visual indicator of the purchaser’s and vendor’s balance of funds.

Funds balance bar

These figures in this bar represent the sum of the Sources and the Payment Directions, based on the line items entered for Sources and Destinations/Adjustments and Payments. When the funds are balanced, the bar will turn green.

Print function (NEW)

A new function enabling you to conveniently print the settlement summary so you can share it with your client as a document. Details such as key Workspace data and an outline of the purchaser and vendor funds are included in the document; whilst the Stamp Duty and Settlement Signing Status panels are excluded from the printed document.

TRANSFER INDICATORS PANEL

This new panel shows key indicators that relate to the financial settlement in the Workspace, giving you greater transparency over key responsibilities for Workspace participants.

a. Indicates if loan documents have been received

The Incoming Mortgagee indicates if they have received the loan documents.

b. Identifies who is providing the shortfall

The Incoming Mortgagee selects who will be responsible for providing the shortfall amount.

c. Displays the last four digits of the purchaser's account

As an identifier, the last four digits of the purchaser’s account is displayed. Entering the last four digits is optional and the FSS can be saved without this information.

d. Indicates if discharge authority has been received

The Mortgagee on Title indicates if they have received the discharge authority.

e. Identifies who is directing the vendor surplus (NEW)

The Mortgagee on Title or Proprietor on Title assigns responsibility for who will be directing the vendor surplus. Either participant can assign responsibility of this task to themselves.

f. Displays the Balance due to Vendor status (NEW)

Shows the status of the Balance due to Vendor* amount.

Pending – No amount has been entered (default status).
Pending Others – An amount has been entered by the Incoming Proprietors or Proprietors on Title in the Workspace but has not been confirmed by all Incoming Proprietors and Proprietors on Title.
Note: This status is displayed to participants in the role of Incoming Mortgagee or Mortgagee on Title as they are not required to action this task.
Agreed – The amount entered has been confirmed by all Incoming Proprietor and Proprietor on Title participants either via a confirmation dialog in the Workspace or by signing the financial settlement schedule.

*This terminology differs based on your jurisdiction:

NSW—Amount due on Settlement
VIC—Balance due to Vendor
QLD—Balance due to Vendor
SA—Balance due to Vendor by Purchaser
WA—Balance due to effect Settlement
ACT—Amount due to Seller

PURCHASER summary column

The Purchaser Summary column is new to the Enhanced Settlement Summary and shows the amounts payable by the purchaser; as line items are added or edited and saved, this panel is updated upon refreshing the page. This column consists of two panels: Purchaser Funds and Purchaser Line Items, and will auto-expand for participants in the role of Incoming Proprietor or Incoming Mortgagee.

Purchaser Summary column

Purchaser Funds

Displays a high-level breakdown of funds required from the purchaser to settle the transaction. These amounts are calculated based on the line items and the Balance due to vendor entered.

Balance due to Vendor
An agreed amount (between the Proprietor on Title and Incoming Proprietor) that the vendor will receive from the purchaser. This is calculated by purchase price, minus deposit paid, plus/minus net adjustments. This amount is entered by either the Proprietor on Title or Incoming Proprietor.
Purchaser Payment Directions
This amount represents the sum of destinations/disbursements.
Purchaser funds required to settle
The amount required by the Incoming Mortgagee for settlement. Previously known as the ‘Total funds required to settle’, this amount is now calculated by the system as a sum of the Balance due to Vendor amount + Purchaser Payment Directions amount.
Incoming Mortgagee Sources
The funds disbursed by the Incoming Mortgagee, such as a loan proceeds.

Purchaser Line Items

Displays a detailed breakdown of the purchaser’s funds, as per line items entered in the Sources and Destinations/Payments and Adjustments tabs.

Buttons on the purchaser's panels

Depending on who is assigned responsibility for providing the shortfall funds, the buttons available on these panels will vary according to your role.

Incoming Proprietor is responsible for providing shortfall

This view displays to participants in the role of Incoming Proprietor if they are responsible for providing the shortfall.

In this scenario, the Incoming Proprietor:

Clicks Mark as Complete (1) after they have completed entering all their line items.
Clicks on Add as shortfall (2) and they will be directed to the Add/Edit Source line item entry screen with the shortfall amount pre-populated based on the new calculations built by PEXA.
Note: If the Incoming Proprietor has previously entered a shortfall amount and source amounts changes, they will see an Update shortfall button here instead.

Incoming Mortgagee is responsible for providing shortfall

This view displays to participants in the role of Incoming Proprietor if the Incoming Mortgagee is responsible for providing the shortfall.

In this scenario, the Incoming Proprietor clicks the Ready for shortfall button to finalise entering their line items. This notifies the Incoming Mortgagee that they may now enter or update the shortfall amount.

Incoming Mortgagee is responsible for providing shortfall

This view displays to participants in the role of Incoming Mortgagee if they are responsible for providing the shortfall.

In this scenario, the Add as shortfall button displays to the Incoming Mortgagee after the Incoming Proprietor finalises their line items and has clicked Ready for Shortfall. The Incoming Mortgagee clicks the Add as shortfall button to enter or update the shortfall amount.

VENDOR summary column

The Vendor Summary column is new to the Enhanced Settlement Summary and shows the amounts payable by the vendor; as line items are added or edited and saved, this panel is updated upon refreshing the page. This column consists of two panels: Vendor Funds and Vendor Line Items and will auto-expand for participants in the role of Proprietor on Title or Mortgagee on Title.

Vendor Summary column

Vendor Funds

Displays a high-level breakdown of funds required from the vendor to settle the transaction.

Balance due to Vendor
An agreed amount (between the Proprietor on Title and Incoming Proprietor) that the vendor will receive from the purchaser. This is calculated by purchase price, minus deposit paid, plus/minus net adjustments. This amount is entered by either the Proprietor on Title or Incoming Proprietor.
Proprietor on Title Destinations
This amount represents the sum of destinations/disbursements.

Mortgagee on Title Destinations
This amount represents the funds disbursed by the Mortgagee on Title, such as a loan payout.

Vendor Line Items

Displays a detailed breakdown of the vendor's funds, as per line items entered in the Sources and Destinations/Adjustments tabs. The destination amounts here are used to calculate the Unallocated Funds on the Vendor Funds panel.

Buttons on the vendor's panels

Depending on who is directing the vendor surplus, the available buttons available on these panels will vary according to your role.

Proprietor on Title is responsible for directing vendor surplus

This view displays to participants in the role of Proprietor on Title if they are responsible for directing the vendor surplus.

In this scenario, the Proprietor on Title clicks on Add as vendor surplus and they will be directed to the Add/Edit Destination line item entry screen with the surplus amount pre-populated based on the new calculations built by PEXA.

NOTE: If the line items are updated and the surplus amount changes, this button changes to 'Update vendor surplus'.

Mortgagee on Title is responsible for directing vendor surplus

This view displays to participants in the role of Proprietor on Title if the Mortgagee on Title is responsible for directing the vendor surplus.

In this scenario, the Proprietor on Title clicks on Ready for surplus to finalise entering their line items. This notifies the Mortgagee on Title (via a task and an on-screen button) that they may now enter or update the surplus amount.

Mortgagee on Title is responsible for directing vendor surplus

This view displays to participants in the role of Mortgagee on Title if they are responsible for directing the vendor surplus.

In this scenario, the Add as vendor surplus button displays to the Mortgagee on Title after the Proprietor on Title has finalised their line items and clicked Ready for surplus. The Mortgagee on Title clicks the Add as vendor surplus button to enter or update the surplus amount.

Note: If a surplus amount has already been entered, the Mortgagee on Title will see an Update vendor surplus button here instead.

STAMP DUTY PANEL

The Stamp Duty panel (or Transfer Duty panel in QLD and WA) shows the stamp duty verification and assessment status.

The Stamp Duty panel remains unchanged and displays the following information:

Document ID

A unique ID generated by PEXA for the Transfer document in the Workspace.

Verification Status

The duty amount payable has been verified to be correct via a stamp duty verification process in PEXA. The possible statuses are Successful or Unsuccessful.

OSR status advice

The status of the Stamp Duty case in the Revenue Office system.

Duty amount payable

The amount of duty payable for the property.

SETTLEMENT SIGNING STATUS

The Settlement Statement Signing panel has been improved to include new icons to visually indicate the signing status of each participant in the Workspace. This provides more meaningful context where dual signatures are required (visible only to the Subscriber who has dual signing enabled).

New icons

New icons have been added allowing you to visually ascertain a participant's signing status. When a participant successfully signs the financial settlement schedule, the icons for that participant turns green and a time stamp of when they signed will be recorded in the Date and time column.

FAQs

Why is PEXA revamping the Financial Settlement Schedule (FSS)?: PEXA is committed to continuously enhancing member experience – with your feedback playing a key role in driving our technical prioritisation.
Member feedback has indicated that the FSS is an area the network has wanted to see us innovate and streamline for some time now.
Ultimately, by delivering an Enhanced Settlement Summary to the network, our aim is to enable you to complete your required tasks on the day of settlement, without relying on other Workspace parties to first complete theirs – eliminating interdependencies and encouraging timely settlements.

Which PEXA members will see the ESS from 12 October?: The Enhanced Settlement Summary will be switched on for all South Australian members on 12 October, as part of a gradual, national roll-out plan over the coming months, to help ensure a smooth transition for industry.
The ESS will apply to any Workspaces opened related to a South Australian property.
We have been piloting Part 1 of the new Enhanced Settlement Summary with practitioners, panel law firms and financial institutions over the last six months and have refined the functionality in line with their feedback.
Feedback has been positive, with peers noting the new view assists with getting the Workspace ‘Ready Ready’ more easily.

Can other members opt in?: Yes, members from other jurisdictions are able to opt in to have the new view activated. Please reach out to a member of the PEXA team should you wish to do so and we’ll kindly assist.

What is PEXA doing to support members through this change?: We recognise this is a significant change to your PEXA experience. As such, we’ve developed an extensive suite of learning resources to help you navigate this change. Information on the rollout can be found here: https://www.pexa.com.au/sites/ess.
Full Release Notes on Part 1 can be found here: https://community.pexa.com.au/t5/PEXA-Product-Releases/PEXA-Release-12-1-2-05-October-2020/ba-p/20967#ess.
Further material (help cards etc) can be found here: https://community.pexa.com.au/t5/Help-Centre/PEXA-s-Enhanced-Settlement-Schedule/ba-p/20958.
From 23 September, our Training team will hold 7 South Australian webinars for practitioners and 2 individual webinars for financial institutions on the Enhanced Settlement Summary to ensure all members have an opportunity to see a live demonstration of the functionality and ask their questions to the experts.
Sessions will continue to be delivered by the team, as well as our PEXA Partners, in the months ahead.
In addition, as always, our PEXA Partner team and Member Support Centre are here to support you.
Sessions will be held in the different states as we roll out ESS nationally.

What are the benefits of this for practitioners?: As an Incoming Proprietor representative, practitioners will benefit from not having to calculate and enter the Total Funds Required to Settle (TFRS), have better co-ordination with the Incoming Mortgagee, see a reduction in keying of data and have less reliance on conversations to clarify responsibilities.
Where the Incoming Mortgagee is responsible for providing all funds, practitioners can generate a task to the bank to finalise their source funds required for settlement when they’ve completed entry of your line items.
Similarly, when acting for the Proprietor on Title, practitioners will have more visibility over key responsibilities in the Workspace and will also benefit from the system calculations for the Vendor Surplus line items. This should reduce the number of conversations with the client’s bank in the Workspace.
Where the Mortgagee on Title is responsible for the Vendor’s surplus, practitioners can generate a task to the bank to finalise the Vendor’s funds when they’ve completed entry of your line items.

What are the benefits of this for financial institutions?: Financial institutions will see a reduction in errors and more Workspace clarity, in addition to greater certainty over the final settlement figures, reduced reliance on conversations and greater visibility of the status of the completion of the FSS.

What changes are being made?

Part 1 (South Australia: 12 October 2020 and National: February 2021 – TBC): Launching a new transfer indicator panel, providing improved transparency of key responsibilities in the Workspace for all parties. In addition, the enhancements will deliver a streamlined approach to calculating both Vendor Surplus and Shortfall for the Total Funds Required to settle.
Part 2 (National: February 2021 – TBC): Delivering functionality enabling the Proprietor on Title representative to finalise their entries in the FSS, including the Vendor Surplus, without waiting for the Mortgagee on Title to finalise their loan payout figure.
Part 3 (TBC): Providing more clarity regarding purchaser shortfall required for settlement – in matters where the financial institution is responsible.
For more detailed information and screenshots of Part 1, refer to our Release 12.1.2 notes: https://community.pexa.com.au/t5/PEXA-Product-Releases/PEXA-Release-12-1-2-05-October-2020/ba-p/20967#ess.

What happens if my Workspace is uploaded via PEXA Projects?: The Proprietor on Title does not need to enter or sign off on the Balance Due to Vendor. The Incoming Proprietor will be expected to enter this figure to drive the ‘Total Funds Required to Settle’ calculation, especially where the Incoming Mortgagee is handling shortfall funds. The ‘Ready for Surplus’ button will still be available for the Proprietor on Title to click (on a per workspace basis), however as the POT is usually in control of directing their own funds, then this shouldn’t be an issue.

Why is this being delivered in stages?: As with any change, we want to ensure the process causes minimal disruption to your organisation’s day-to-day operations. By rolling this out in stages, we hope this will make the changes as seamless as possible and enable us to quickly implement additional feedback from the network.

Re: Introducing PEXA Planner

Saysa — Fri, 11 Sep 2020 03:30:54 GMT

PEXA Planner Release 3.1

PEXA is pleased to present PEXA Planner Release 3.1, scheduled for business go-live on 10 September 2020.

In this release, PEXA has made several enhancements to the Get to Ready dashboard.

Feature updates

Renamed a task on the task filter
Updated filter logic where a Consent exists (NSW only)
Signing the financial settlement as the Incoming Mortgagee

Renamed a task on the task filter

On the Get to Ready dashboard, we have renamed a task relevant for a MORTGAGEE ON TITLE. What was previously labelled as Sign discharge document has now been renamed to Sign PEXA documents.

New filter–Transfer document status

We have updated the filtering logic for the Transfer document status filter on the Get to Ready dashboard. This change is applicable to NSW Workspaces where a Consent document exists.

Previously, in a Workspace where a Transfer document had just been created and a Consent exists, the Transfer document status in PEXA Planner was In Preparation. We have updated the logic so that the Transfer document status is now Prepared, which will allow users to identify when both the Discharge and Consent documents are ready to be signed.

This doesn’t affect other jurisdictions, whose Transfer document status will still be In Preparation.

Signing the financial settlement as the Incoming Mortgagee

Loan Proceeds has been added as a condition for the Incoming Mortgagee being able to sign the Financial Settlement Schedule (FSS) on Get to Ready dashboard.

Currently the conditions that must be met are:

The pay-out figure has been entered into the FSS.
All Transfer, Discharge, and Mortgage documents status are at minimum in Prepared status (if created).

In this release, we have added a third condition that governs this filter:

Loan proceeds has been added as a line item in the FSS.

When all three conditions are met, the Workspace will be listed on the Get to Ready dashboard.

Re: Welcome to PEXA - State Requirements | Help Centre

SharronKardinaal — Fri, 28 Aug 2020 00:19:49 GMT

Hi Team

Can this be updated to include ACT now?

Re: Transmission Application (APR) (VIC) | Help Centre

ThanhHa — Wed, 26 Aug 2020 22:43:38 GMT

Hi ,

I was hoping to be able to come back with more, but unfortunately we still don't have a date for this. I post an update here once I have more to share.

Thanh

Re: Introducing PEXA Planner

Saysa — Wed, 12 Aug 2020 23:52:26 GMT

PEXA Planner Release 3.0

PEXA is pleased to present PEXA Planner Release 3.0, scheduled for business go-live on 13^th August 2020.

Feature updates:

Beta version: ‘Get to Ready’ dashboard
Added PEXA Planner to the apps menu

Beta version: ‘Get to Ready’ dashboard

We’re rolling out a beta version of the Get to Ready dashboard. Designed for Financial Institutions, the Get to Ready feature allows users to filter for Workspaces with outstanding actions that are ready to complete.

You can filter by:

Role:
- Incoming Mortgagee
- Mortgagee on Title
Action:
- Create mortgage document
- Sign PEXA document
- Sign FSS
- Sign Discharge document (Mortgagor on Title only)

The actions listed for each role will search for Workspaces that match the following conditions:

Action	Workspace conditions
Create mortgage document	Incoming proprietor’s names have been added as a party in the Workspace
Sign PEXA documents	The transfer is in Prepared status Payout entered
Sign the FSS	The payout figure has been entered into the FSS All Transfer, Discharge and Mortgage document status is in Prepared status
Sign Discharge document	The transfer document has been created (In Preparation status)

By default, the beta version of the Get to Ready dashboard is accessible to everyone but only Financial Institution users in the role of Incoming Mortgagee or Mortgagee on Title will have full applicable functionality. If you’re a Subscriber in another role, this functionality with be limited.

To access the new dashboard, click the Get to Ready link on the left hand menu then refine actionable Workspaces by using the Filter.

Added PEXA Planner to the apps menu

We’ve added PEXA Planner to the apps menu in PEXA Exchange, allowing you to seamlessly move between PEXA Exchange and PEXA Planner.

Clicking on the PEXA Planner link opens the PEXA Planner landing page in a new tab where you can then enter your credentials to log in to PEXA Planner.

The landing page also includes a new link that directs you to the PEXA Planner Community home page, which opens up in a new tab. This Community page contains information and release updates where you can learn more about PEXA Planner.

A special shout out to Matt Kerr from Westpac and Carmen Avram from BankWest who suggested the new ‘Get to Ready’ name for the dashboard.

Re: PEXA Projects help articles

rbell — Wed, 05 Aug 2020 06:27:13 GMT

Hi,

Please see the below link to the page that includes the Help card relating to the Proprietor on Title in PEXA Projects.

https://community.pexa.com.au/t5/Help-Centre/Projects-PEXA-Projects/ba-p/8239

Any questions please let me know,

Kind Regards,

Rachael

Re: Settlement Notification | Help Centre

DMc — Wed, 05 Aug 2020 04:23:19 GMT

With PEXA Release 12.1.0 | 03 August 2020

https://community.pexa.com.au/t5/PEXA-Product-Releases/PEXA-Release-12-1-0-03-August-2020/bc-p/20701#M298

YIPPEE Attach PDF to Notifications -Thanks for listening!

In the provided example will each party be notified as CC recipient, then by extension- if Private Notification is ticked then each party is BCC'd?

Re: PEXA Projects help articles

kbalaba — Tue, 04 Aug 2020 06:12:19 GMT

Where can I find the downloadable help card for Proprietor on Title? Can only see MoT.

Subscriber Review Process: Guidance Notes 2.2

ohunter — Fri, 05 Feb 2021 00:38:30 GMT

The Australian Registrars' National Electronic Conveyancing Council (ARNECC) is the body established to facilitate the implementation and ongoing management of the regulatory framework for electronic conveyancing of real property in Australia.

Operating Requirement 14.7 of the ARNECC’s Model Operating Requirements (MOR) requires PEXA to establish, implement, review and keep current a Subscriber Review Process (SRP) to ensure Subscribers are complying with the Participation Rules.

Accordingly, Primary Subscriber Managers from all eligible Subscribers will be selected to participate in the SRP periodically. When your organisation is selected, you will have 30 days to complete the review. Completion of the SRP is a requirement of your organisation’s Participation Agreement with PEXA.

The process for selecting recipients of the SRP is random and based upon criteria previously agreed with ARNECC. Recipients include, but are not limited to Financial Institutions, Legal Practitioners and Conveyancers.

Primary Subscriber Managers will be notified via email if their organisation has been selected to complete the SRP questionnaire. The email will not include a link to the Subscriber review portal as PEXA will never send a link to a login page in an email to its Subscribers. Instructions for accessing the portal are included in the notification email and outlined on the page 4 of these Guidance Notes.

If you have any questions please contact Member Support on 1300 084 515 or please send an email to subscriberreviewprocess@pexa.com.au

Subscriber Review Process Structure

The SRP focuses on the following categories of the Participation Rules/Participation Agreement:

Eligibility Criteria;
General Obligations;
System Security and Integrity; and
Privacy.

These Guidance Notes are designed to assist PEXA Subscribers with answering the SRP questions.

For each SRP question, you will see the following guidance structure:

Question
The question as it appears in the SRP questionnaire.
Requirement
Your obligation under the Participation Rules/Participation Agreement.
Compliance demonstration
How you can demonstrate your compliance in response to the question.

Whilst completing the SRP questionnaire, it is recommended that you have these Guidance Notes readily available in addition to the following documentation:

Participation Rules; and
PEXA Subscriber Security Policy
Your organisation’s PEXA Participation Agreement.

Further questions regarding the questionnaire or the Subscriber Review Process can be directed to: SubscriberReviewProcess@pexa.com.au

Accessing the Questionnaire

To access the Subscriber review portal, Primary Subscriber Managers will need to log into the PEXA Exchange and click on the ‘Subscriber Review’ button located on the right-hand side of their Dashboard.

Alternatively, Primary Subscriber Managers can access the portal by navigating to www.pexa.com.au/srp, scrolling down to the Subscriber review portal section and clicking on the link included on the page. Upon clicking the ‘Subscriber Review’ button or the link from PEXA’s website, Primary Subscriber Managers will be directed to the Subscriber review portal where the questionnaire link will appear as highlighted by the light purple oval object as per Diagram 2. Primary Subscriber Managers will need to click on the “SRP ” link to access the SRP questionnaire.

Note: If additional information is required after the review is initially submitted, this can be provided by clicking on ‘Tasks’ (located next to ‘Assessment’ in the portal)

Question 1

Question

Are all your organisation’s principals, directors, partners, officers and Subscriber Administrators deemed to comply with the good character and reputation matters listed in Participation Rule 4.3.1(b)?

Requirement

Many Individuals are deemed to comply with this rule, including Australian Legal Practitioners, Licensed Conveyancers and officers or employees of Authorised Deposit-Taking Institutions. For a full list of those deemed to comply, please refer to Participation Rule 4.3.3.

Your organisation has an obligation to ensure its principals, directors, partners, officers and Subscriber Administrators are of good character and reputation, where they are not deemed to comply.

(Participation Rules: Section 4.3.1(b))

Compliance demonstration

If all relevant Individuals within your organisation are deemed to comply with this rule, select Yes, and move on to Question 2.

Where one or more of the relevant Individuals within your organisation are not deemed to comply, select No. If you select No, you will be prompted with a supplementary question:

Supplementary question only applicable if you selected No

What steps has your organisation taken to ensure all principals, directors, partners, officers and Subscriber Administrators are not and have not been subject to any of the good character and reputation matters as listed in Participation Rule 4.3.1(b)?

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to provide this assurance.

The following options will then be available for you to select: (select if applicable)

Background checks are conducted prior to onboarding and on a regular basis covering the matters as listed in Participation Rules 4.3.1(b)
Other steps are taken to provide this assurance
No steps are taken to provide this assurance

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to provide this assurance. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to provide this assurance. A text box will appear for you to outline the steps you will take to provide the necessary assurance, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 2

Question

How do you ensure all persons who use the PEXA Exchange in your organisation are aware of the terms of the Participation Rules as appropriate to their use of the PEXA Exchange?

Requirement

Your organisation has an obligation to ensure that each User is aware of the terms of the Participation Rules as appropriate to their use of the PEXA Exchange.

(Participation Rules: Section 6.1.1)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to ensure User awareness of the Participation Rules as appropriate to their use of the PEXA Exchange.

The following options are available for you to select from: (select all that apply)

An induction process for new starters that covers the Participation Rules
Regular review of the Participation Rules and any updates on the ARNECC website
Nominated internal ‘expert’ provides others guidance on Participation Rules as required
Other steps are taken to ensure User awareness of the Participation Rules as appropriate to their use of the PEXA Exchange
No steps are taken to ensure User awareness of the Participation Rules as appropriate to their use of the PEXA Exchange

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to ensure User awareness of the Participation Rules as appropriate to their use of the PEXA Exchange. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to ensure User awareness of the Participation Rules as appropriate to their use of the PEXA Exchange. A text box will appear for you to outline the steps you will take to ensure the necessary awareness, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 3

Question

How do you ensure yourself and any other Users in your organisation receive appropriate training in the use of the PEXA Exchange?

Requirement

Your organisation has an obligation to ensure that each User has received training appropriate to their use of the PEXA Exchange.

(Participation Rules: Section 7.2.1(b))

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to ensure appropriate training is received.

The following options are available for you to select from: (select all that apply)

Regular training received from an external provider (e.g. from a registered training organisation or industry body)
Regular contact with PEXA representatives and Member Support personnel
Nominated internal ‘expert’ provides others guidance on use of the PEXA Exchange as required
Utilise PEXA training resources such as the Help menu
Users have been trained by PEXA personnel
Training manuals cover the use of PEXA Exchange
Induction / buddy programs cover the use of the PEXA Exchange
Completion of the PEXA Certified program
Other steps are taken to ensure appropriate training is received
No steps are taken to ensure appropriate training is received

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to ensure appropriate training is received. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to ensure appropriate training is received. A text box will appear for you to outline the steps you will take to ensure the appropriate training is received, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 4

Question

How does your organisation protect physical and electronic information provided by other Subscribers, the Registrar or by the PEXA Exchange from unauthorised use, reproduction or disclosure?

Requirement

Your organisation has an obligation to ensure all information provided by another Subscriber, any Client, the Registrar or PEXA is protected from unauthorised use, reproduction or disclosure.

(Participation Rules: Section 6.10)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to ensure information is protected from unauthorised use, reproduction or disclosure.

The following options are available for you to select from: (select all that apply)

Documents are shredded when no longer needed
Documents are archived when appropriate
An induction process for new starters that covers privacy obligations relating to information provided by other Subscribers, the Registrar or by the PEXA Exchange
Periodic refresher training process that covers privacy obligations relating to information provided by other Subscribers, the Registrar or by the PEXA Exchange
Work files and personal documents are locked away in a secure place
Computer screens are locked
Computers are securely stored (e.g. locked away in a drawer)
A formal policy is in place to ensure desks are regularly cleared of sensitive information (e.g. a Clean Desk Policy)
Secure printing practices are in place
Other steps are taken to ensure information is protected from unauthorised use, reproduction or disclosure
No steps are taken to ensure information is protected from unauthorised use, reproduction or disclosure

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to ensure information is protected from unauthorised use, reproduction or disclosure. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to ensure information is protected from unauthorised use, reproduction or disclosure. A text box will appear for you to outline the steps you will take to ensure information is appropriately protected, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Further guidance

Additional information on what may constitute reasonable steps to protect information is available through the Office of the Australian Information Commissioner (OAIC) website: https://www.oaic.gov.au/agencies-and-organisations/guides/guide-to-securing-personal-information

Question 5

Question

Did your organisation enter into a Participation Agreement directly with PEXA (and it was not otherwise assigned, Novated, transferred or dealt to you from another entity)?

Requirement

Your organisation has an obligation to maintain its own subscription to the PEXA Exchange, and a subscription cannot be assigned, Novated, transferred or otherwise dealt with.

(Participation Rules: Section 6.12)

Compliance demonstration

If your organisation has entered into a Participation Agreement directly with PEXA (and it was not otherwise assigned, Novated, transferred or dealt to you from another entity), select Yes.

If your organisation has not entered into a Participation Agreement directly with PEXA (or it was otherwise assigned, Novated, transferred or dealt to you from another entity), select No.

If you select No, a text box will appear for you to outline the steps you are taking to appropriately register your organisation to operate on the PEXA Exchange, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 6

Question

Does your organisation comply with state- and territory-based practitioner regulatory requirements regarding who is entitled to electronically sign Registry Instruments, for all Signers?

Requirement

This is only applicable to practitioners, such as Australian Legal Practitioners or Law Practices and Licensed Conveyancers including Conveyancing Practices.

For all other Subscribers, this requirement is not applicable.

There is an obligation for applicable organisations to ensure that each Signer complies with the laws of the Jurisdiction regarding who can Digitally Sign Registry Instruments within the relevant states and territories.

(Participation Rules: Section 6.15(b))

Compliance demonstration

Please refer to the below link for current guidance on who is eligible to sign: https://www.arnecc.gov.au/resources/guidance-practitioner-regulators

If this requirement is not applicable to your organisation, select N/A – This requirement is not applicable to my organisation.

If your organisation does comply with these state- and territory-based practitioner regulatory requirements, select Yes.

If your organisation does not comply with these state-and territory-based practitioner regulatory requirements, select No.

If you select No, a text box will appear for you to outline the steps you are taking to ensure compliance with these requirements, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 7

Question

How do you ensure yourself and any other Users of the PEXA Exchange in your organisation are aware of and understand the terms of PEXA’s Subscriber Security Policy?

Requirement

Your organisation has an obligation to provide a copy of the PEXA Subscriber Security Policy to Users, as well as to take reasonable steps to ensure they understand this Policy prior to allowing them access to the PEXA Exchange.

(Subscriber Security Policy: Sections 4.4.1 & 4.4.4)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to ensure awareness and understanding of the Subscriber Security Policy.

The following options are available for you to select from: (select all that apply)

All Users (whether one User or many Users) are provided a copy of the Subscriber Security Policy and are required to read the document and acknowledge they understand and will comply with the Subscriber Security Policy prior to accessing the PEXA Exchange
Updates to Subscriber Security Policy are regularly reviewed
Nominated internal ‘expert’ provides others guidance on Subscriber Security Policy as required
Other steps are taken to ensure awareness and understanding of the Subscriber Security Policy
No steps are taken to ensure awareness and understanding of the Subscriber Security Policy

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to ensure awareness and understanding of the Subscriber Security Policy. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to ensure awareness and understanding of the Subscriber Security Policy. A text box will appear for you to outline the steps you will take to ensure the necessary awareness, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Question 8

Question

Does each Signer in your organisation have their own Digital Certificate and only sign documents using their allocated Digital Certificate?

Requirement

Your organisation has an obligation to ensure each Signer has their own Digital Certificate and only sign documents using their allocated Digital Certificate.

(Subscriber Security Policy: Section 4.2.1)

Compliance demonstration

If your organisation does comply with this requirement, select Yes.

If your organisation does not comply with this requirement for each Signer to have their own Digital Certificate and only sign documents using their allocated Digital Certificate, select No.

If you select No, a text box will appear for you to outline the steps you are taking to ensure compliance with the requirements regarding Digital Certificate use, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Question 9

Question

What measures does your organisation take to ensure PEXA Access Credentials, User profiles and Digital Certificates for the PEXA Exchange are not 1) used by more than one Individual or 2) subject to unauthorised access and use?

Requirement

Your organisation has an obligation to have measures in place to protect Access Credentials, User profiles and Digital Certificates from 1) use by more than one Individual or 2) unauthorised access and use.

(Subscriber Security Policy: Sections 4.3.1, 4.3.2, 4.5.1 & 4.7)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to ensure PEXA Access Credentials, User profiles and Digital Certificates for the PEXA Exchange are not used by more than one Individual or subject to unauthorised access and use.

The following options are available for you to select from: (select all that apply)

Use and disclosure of the same PEXA Access Credentials, User profiles and Digital Certificates by more than one individual, including colleagues, family or friends is explicitly prohibited in your organisation (i.e. as outlined by a policy or guidance).
Any device used to receive verification codes that enable a User to login to the PEXA Exchange is not accessible by more than one Individual
PEXA Access Credentials are immediately changed if they are suspected of being Compromised
PEXA Access Credentials include a strong password that could not be easily guessed by others (i.e. passwords do not include a User’s date of birth, name, phone number or similar)
Digital Certificates are stored in a safe location and removed from a User’s computer when no longer accessing the PEXA Exchange
PEXA is immediately notified of any instance of theft, unauthorised disclosure or improper use of PEXA Access Credentials, User profiles or Digital Certificates
Other steps are taken to ensure PEXA Access Credentials, User profiles and Digital Certificates for the PEXA Exchange are not used by more than one Individual or subject to unauthorised access and use
No steps are taken to ensure PEXA Access Credentials, User profiles and Digital Certificates for the PEXA Exchange are not used by more than one Individual or subject to unauthorised access and use

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to ensure PEXA Access Credentials, User profiles and Digital Certificates for the PEXA Exchange are not used by more than one Individual or subject to unauthorised access and use. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to ensure PEXA Access Credentials, User profiles and Digital Certificates for the PEXA Exchange are not used by more than one Individual or subject to unauthorised access and use. A text box will appear for you to outline the steps you will take to remedy the situation, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Question 10

Question

Has your organisation created a User account within PEXA that can be accessed by more than one Individual, such as a shared account for the office?

Requirement

Your organisation has an obligation to take reasonable steps to ensure that only Users (natural persons) access the PEXA Exchange.

In the Participation Rules, a User means “an Individual authorised by a Subscriber to access and use the ELN on behalf of the Subscriber.”

An Individual means “a natural person” according to the Electronic Conveyancing National Law (ECNL).

(Participation Rules: Section 7.2.1(a))

Compliance demonstration

If your organisation has not created a User account within PEXA that can be accessed by more than one Individual, select No.

If your organisation hascreated a User account within PEXA that can be accessed by more than one Individual, select Yes.

If you select Yes, a text box will appear for you to outline the steps you are taking to remove this User account, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 11

Question

Does your organisation have Anti-Virus Software installed on all computers that meets the following requirements?

The ability to identify and remove viruses
The ability to identify and remove other types of harmful computer software, generally referred to as Malware (or malicious software)
The ability to automatically receive anti-virus updates from the relevant Anti-Virus Software vendors
The ability to automatically scan for viruses and Malware in documents, on servers and workstations

Requirement

Viruses and Malware are forms of malicious software introduced into an electronic device such as your computer or mobile device with the intent of causing harm to compromise the confidentiality, integrity or availability of your systems and computer networks or data held on these systems.

Your organisation has an obligation to provide anti-virus protection against any unauthorised or uncontrolled access to IT systems and access points that are used by you to access the PEXA Exchange. This anti-virus protection must meet the criteria outlined in the review question and the Subscriber Security Policy.

(Subscriber Security Policy: Section 4.2.3)

Compliance demonstration

If your organisation outsources the management of your IT environment, you may need to engage your service provider to confirm that Anti-Virus Software in place is compliant with these obligations.

If your organisation does have Anti-Virus Software installed on all computers that meets the requirements outlined, select Yes.

If your organisation does not have Anti-Virus Software installed on all computers that meets the requirements outlined, select No.

If you select No, a text box will appear for you to outline the steps you will take to implement compliant Anti-Virus Software, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Question 12

Question

What steps does your organisation take to ensure security vulnerabilities in IT operating systems and applications are Patched and updated as necessary?

Requirement

Your organisation has an obligation to keep your IT operating systems and applications up to date by taking reasonable steps to install Patches and updates (including security specific updates).

The purpose of Patching and operating system updates is to address vulnerabilities discovered after the release of software. Patches apply to many different parts of an information system including operating systems, servers, routers, desktops, email clients, office suites, mobile devices, firewalls, and other components which exist within a computer network.

Your organisation is required to have a software Patching schedule or procedure which is run frequently. This must include IT infrastructure such as operating systems, web browsers, endpoint devices that support your ability to access the PEXA Exchange.

To ensure Patches and updates are correctly installed, please ensure you restart all computers on a regular basis.

(Subscriber Security Policy: Sections 4.2.3, 4.2.4 & 4.2.5)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to ensure security vulnerabilities in IT operating systems and applications are Patched and updated as necessary. If your organisation outsources the management of your IT environment, you may need to engage your service provider to confirm the frequency of Patch and update installation.

The following options are available for you to select from: (select all that apply)

Patches and updates are installed automatically, and all computers are restarted following the installation
Patches and updates are installed on at least a quarterly basis, and all computers are restarted following the installation
Patches and updates are installed less frequently than once a quarter
Other steps are taken to ensure security vulnerabilities in IT operating systems and applications are Patched and updated as necessary
Patches and updates are not regularly installed

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to ensure security vulnerabilities in IT operating systems and applications are Patched and updated as necessary. A text box will appear for you to specify these steps.

Where your organisation installs Patches and updates less frequently than once a quarter, select Patches and updates are installed less frequently than once a quarter. A text box will appear for you to outline the steps you will take to ensure Patches and updates are installed more frequently.

Where your organisation does not take any relevant steps, select Patches and updates are not regularly installed. A text box will appear for you to outline the steps you will take to remedy the situation, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Further guidance

It is considered good practice to align your organisation’s Patching processes to those recommended by the Australian Signals Directorate’s ‘Essential Eight’. This guidance recommends ‘extreme risk’ vulnerabilities be Patched within 48 hours. Further information on the ‘Essential Eight’ can be found at https://www.cyber.gov.au/publications/essential-eight-explained.

To determine the severity of a vulnerability in need of Patching, the Common Vulnerability Scoring System (CVSS) is an accepted industry standard. Further information on CVSS can be found at https://www.first.org/cvss/.

Question 13

Question

How does your organisation detect and prevent any unusual or suspicious activities within the PEXA Exchange?

Requirement

Your organisation has an obligation to take reasonable steps to monitor the usage of systems and activities of Users who are accessing the PEXA Exchange to identify unusual or suspicious activities.

(Subscriber Security Policy: Section 4.4.3)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to detect and prevent any unusual or suspicious activities within the PEXA Exchange.

The following options are available for you to select from: (select all that apply)

Confirm open and completed Workspaces are valid on a regular basis
Undertake an additional check of financial line items prior to Workspace signing
Review of information entered into Workspace prior to settlement
Monitor the signing of documents and financial line items outside of normal hours
Regular review of “Manage Users” in PEXA Exchange to confirm legitimacy of User access privileges
Other detection / prevention measures are currently in place
No detection / prevention measures are currently in place

Where the steps taken by your organisation are not included in the options listed, select Other detection / prevention measures are currently in place. A text box will appear for you to specify these measures.

Where your organisation does not take any relevant steps, select No detection / prevention measures are currently in place. A text box will appear for you to outline the steps you will take to implement appropriate detection / prevention measures, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Question 14

Question

How does your organisation take reasonable steps to verify the accuracy of account details provided by or to clients?

Requirement

The use of email to exchange financial information can be insecure, with the potential for interception by a third party without the knowledge of the sender or receiver. This can result in fraudulent payments and the loss of funds.

It is recommended that organisations involved in exchanging bank account details with clients take reasonable steps to verify the accuracy of account details provided by or to clients.

(Subscriber Security Policy: Section 4.2.6)

This requirement is only applicable to organisations that exchange account details with clients.

Compliance demonstration

You must specify the steps taken to verify the accuracy of account details provided by or to clients.

The following options are available for you to select from: (select all that apply)

Bank account details are sent and received via PEXA Key
Bank account details are verified in person or over the phone if sent or received via any other means
My organisation does not exchange account details with clients
Other steps are taken to verify the accuracy of account details
No steps are taken to verify the accuracy of account details

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to verify the accuracy of account details. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to verify the accuracy of account details. A text box will appear for you to outline the steps you will take in future to verify the accuracy of account details to reduce the risk of a fraudulent payment or the loss of funds.

If your organisation does not exchange bank account details with clients, select My organisation does not exchange account details with clients.

Question 15

Question

How does your organisation manage PEXA Exchange User access?

Requirement

Your organisation has an obligation to perform User access reviews on at least an annual basis.

Your organisation also has an obligation to promptly modify User access privileges when you no longer want a User to access the PEXA Exchange at all, or in a particular capacity (such as removal of privileges to act as a Signer or Subscriber Administrator).

Reviewing the list of Users and Signers within the PEXA Exchange includes performing actions such as:

Confirming only authorised Users continue to retain access to the PEXA Exchange
Confirming only authorised Signers continue to hold a valid Digital Certificate
Confirming PEXA Exchange permissions are still appropriate for each User

For large organisations, it is good practice to embed changes to PEXA Exchange access privileges in your human resource offboarding processes.

If a User’s Digital Certificate is no longer required, you are required to advise PEXA. To do this, please email registration@pexa.com.au advising the Digital Certificate that is to be cancelled.

(Subscriber Security Policy: Sections 4.5.2 & 4.6.1)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to monitor and manage PEXA Exchange User access.

The following options are available for you to select from: (select all that apply)

Regular review of the list of Users (whether one User or many Users) and Signers within the PEXA Exchange (at least annually)
Modify User access privileges promptly when circumstances change (i.e. a staff member leaves the organisation, a staff member no longer requires access to PEXA or a staff member is away on extended leave)
Disabling of Digital Certificates when no longer required
Other steps are taken to monitor and manage PEXA Exchange User access
No steps are taken to monitor and manage PEXA Exchange User access

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to monitor and manage PEXA Exchange User access. A text box will appear for you to specify these steps.

Where your organisation does not take any relevant steps, select No steps are taken to monitor and manage PEXA Exchange User access. A text box will appear for you to outline the steps you will take in future to monitor and manage PEXA Exchange User access, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Question 16

Question

Does your organisation immediately notify PEXA if yourself or any other User becomes aware of a suspected or actual breach of the PEXA Subscriber Security Policy?

Requirement

Your organisation has an obligation to immediately, upon becoming aware, notify PEXA of any breach of the PEXA Subscriber Security Policy that may affect the PEXA Exchange or the integrity or security of the Electronic Lodgement Network (ELN).

(Subscriber Security Policy: Section 6)

Compliance demonstration

If your organisation immediately notifies PEXA when yourself or any other User becomes aware of a suspected or actual breach of the PEXA Subscriber Security Policy, select Yes.

If your organisation is aware of the obligation to immediately notify PEXA but has not had to provide such a notification, select Organisation is aware of the obligation but has not had to provide such notification.

If your organisation does not immediately notify PEXA if yourself or any other User becomes aware of a suspected or actual breach of the PEXA Subscriber Security Policy, select No.

If you select No, a text box will appear for you to outline the steps you will take in future to notify PEXA of suspected or actual breaches, as required in the Subscriber Security Policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Subscriber Security Policy.)

Question 17

Question

Are your organisation’s PEXA Signers deemed to comply with the good character and reputation matters listed in Participation Rule 7.4.1(b)?

Requirement

Your organisation has an obligation to ensure its Signers are of good character and reputation, where they are not deemed to comply.

Many Signers are deemed to comply with this rule, including Australian Legal Practitioners, Licensed Conveyancers and Public Servants acting on behalf of the Crown in right of the Commonwealth, a State or a Territory.

For a full list of those deemed to comply, please refer to Participation Rule 7.4.2.

(Participation Rules: Section 7.4.1)

Compliance demonstration

If all Signers within your organisation are deemed to comply with this rule, select Yes, and move on to Question 18.

Where one or more of the Signers within your organisation are not deemed to comply, select No. If you select No, you will be prompted with a supplementary question:

Supplementary question only applicable if you selected No

What steps has your organisation taken to ensure Signers are not and have not been subject to any of the good character and reputation matters as listed in Participation Rule 7.4.1(b)?

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must specify the steps taken to provide this assurance.

The following options will then be available for you to select from: (select all that apply)

Background checks are conducted prior to onboarding and on an ongoing basis, covering matters as listed in Participation Rule 7.4.1(b)
Other steps are taken to provide this assurance
No steps are taken to provide this assurance

Where the steps taken by your organisation are not included in the options listed, select Other steps are taken to provide this assurance. A text box will appear for you to specify these steps.

Question 18

Question

Have there been any instances where a Conveyancing Transaction involving your organisation has been Jeopardised?

Requirement

Where a Conveyancing Transaction has been Jeopardised to your knowledge, information or belief, you must:

Unsign any electronic Registry Instruments and other Documents relating to the Conveyancing Transaction immediately, where possible.
Immediately notify PEXA and the Registrar of the situation.
Immediately notify the other Participating Subscribers of any information about the Conveyancing Transaction that it believes to be incorrect, omitted, false or misleading or that the Conveyancing Transaction has been Jeopardised.

In the Participation Rules, Jeopardised means "put at risk the integrity of the Titles Register by fraud or other means" (e.g. any activity that has resulted in a fraudulent change to Documents electronically lodged to the Titles Register).

(Participation Rules: Section 7.7.1)

Compliance demonstration

If there have been no instances where a Conveyancing Transaction involving your organisation has been Jeopardised, select No, there have been no such instances involving my organisation, and move on to Question 19.

If there have been any instances where a Conveyancing Transaction involving your organisation has been Jeopardised, select Yes. If you select Yes, you will be prompted with a supplementary question:

Supplementary question only applicable if you selected Yes

Did you undertake the required actions upon discovery of the situation?

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must confirm if you undertook the required actions upon discovery of the situation.

If your organisation did undertake the required actions, select Yes, these actions were taken.

If your organisation did not undertake the required actions, select No, these actions were not taken.

If you select No these actions were not taken, a text box will appear for you to outline the steps taken in response to the Jeopardised transaction(s) and how your organisation will ensure appropriate steps are always taken in future, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 19

Question

Have there been any instances where your organisation’s Security Items have been or likely to have been Compromised?

Requirement

Where a User's Security Items have been or are likely to be Compromised, you must:

Immediately revoke the User’s authority to access and use PEXA and prevent the User from accessing and using PEXA.
For a Digital Certificate:
Immediately check all Workspaces where the Digital Certificate has been used. Where possible, unsign any Registry Instruments and other Documents you are aware or suspect have been signed without appropriate authorisation. Where it is not possible to unsign the Registry Instruments and other Documents, you must immediately notify PEXA of the situation.
Promptly notify the Certification Authority (provider of the Digital Certificate) and revoke or cancel the Digital Certificate (including doing everything reasonably necessary to cause the Certification Authority to revoke or cancel it).
Promptly notify PEXA.

In the Participation Rules, Compromised means "lost or stolen, or reproduced, modified, disclosed or used without proper authority", such as historic credential sharing Subscriber Security Policy breaches.

Security Item means "User Access Credentials, passphrases, Private Keys, Digital Certificates, Electronic Workspace identifiers and other items as specified from time to time."

(Participation Rules: Section 7.9.1)

Compliance demonstration

If there have been no instances where your organisation’s Security Items have been or likely to have been Compromised, select No, there have been no such instances involving my organisation, and move on to Question 20.

If there have been any instances where your organisation’s Security Items have been or likely to have been Compromised, select Yes. If you select Yes, you will be prompted with a supplementary question:

Supplementary question only applicable if you selected Yes

Did you undertake the required actions upon discovery of the situation?

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must confirm if you undertook the required actions upon discovery of the situation.

If your organisation did undertake the required actions, select Yes, these actions were taken.

If your organisation did not undertake the required actions, select No, these actions were not taken.

If you select No these actions were not taken, a text box will appear for you to outline the steps taken to address the Compromised Security Items and how your organisation will ensure appropriate steps are always taken in future, as required under the Participation Rules. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Rules.)

Question 20

Question

Does your organisation seek consent from the relevant individual(s) to the matters listed in clause 11.2 of the Participation Agreement before providing any Personal Information to PEXA or within an Electronic Workspace?

Requirement

Where a relevant individual’s Personal Information is provided to PEXA or within an Electronic Workspace, you must have first obtained the consent of the relevant individual to whom the Personal Information relates, as per the below matters:

The disclosure of that Personal Information to PEXA and for use in connection with an Electronic Workspace.
The disclosure of that Personal Information to other participants in the ELN (including through mobile applications provided by PEXA), an Electronic Workspace or in a Conveyancing Transaction the subject of an Electronic Workspace.
The use and disclosure of that Personal Information by PEXA and the other participants in an Electronic Workspace or in a Conveyancing Transaction the subject of an Electronic Workspace.
To the collection, use, handling and disclosure of their Personal Information, at least to the extent necessary to enable PEXA to provide the Services in accordance with the requirements of this Participation Agreement.
To the disclosure of their Personal Information to a Registrar or Duty Authority.

This requirement does not apply to Financial Institutions and/or Australian Credit License holders. Please refer to your organisation's Participation Agreement with PEXA for additional information and to confirm if this requirement applies in your circumstances.

(Participation Agreement: Section 11.2)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must confirm that consent is received from the relevant individual before providing any Personal Information to PEXA or within an Electronic Workspace.

If your organisation does comply with this requirement, select Yes.

If your organisation does not comply with this requirement for consent to be received from the relevant individual before providing any Personal Information to PEXA or within an Electronic Workspace, select No.

If you select No, a text box will appear for you to outline the steps you will take to ensure compliance regarding the requirement to seek consent from relevant individuals. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Agreement.)

If your organisation is a Financial Institution and/or Australian Credit License holder, select N/A – This requirement is not applicable to my organisation and move to the Declaration.

Question 21

Question

Does your organisation refer the relevant individual(s) to PEXA’s privacy policy before providing any Personal Information to PEXA or within an Electronic Workspace?

Requirement

Where a relevant individual’s Personal Information is provided to PEXA or within an Electronic Workspace, you must refer the individual to PEXA’s privacy policy (currently available at http://www.pexa.com.au/privacy) before providing any Personal Information to PEXA or within an Electronic Workspace.

(Participation Agreement: Section 11.2)

Compliance demonstration

To demonstrate your organisation’s compliance with this requirement, you must confirm that relevant individuals are referred to the PEXA privacy policy before providing any Personal Information to PEXA or within an Electronic Workspace.

If your organisation does comply with this requirement, select Yes and move to the Declaration

If your organisation does not comply with this requirement for the PEXA privacy policy to be referred to the relevant individual(s) before providing any Personal Information to PEXA or within an Electronic Workspace, select No.

If you select No, a text box will appear for you to outline the steps you will take to ensure compliance regarding the requirement to refer relevant individuals to PEXA privacy policy. (Refer to the Declaration and Submission section for further information on cases where your organisation is in breach of the Participation Agreement.)

Declaration and Submission

Following completion of responses to the questionnaire, you will be presented with the following statement:

Failure to accurately complete PEXA’s Subscriber Review Process is a breach of my obligations under Schedule 7 of the Model Participation Rules. Knowingly providing false or inaccurate responses may result in the suspension of my Subscriber account.

To submit your responses, you are required to confirm that I acknowledge the above statement and confirm all responses provided are accurate.

If you wish to change any of your responses prior to submission, click on the Previous button to return to the questionnaire. Once you are ready to submit your responses, navigate back to the declaration.

Cases where a breach is identified

Throughout the questionnaire, you are provided an opportunity to outline what steps you will take to address any breaches of the Participation Rules, Subscriber Security Policy or Participation Agreement that are immediately apparent from your responses. PEXA’s Subscriber Review Team will review the responses provided in these cases and work with you to ensure you are in a position to action these steps and demonstrate your compliance.

Glossary

Capitalised terms used in these guidance notes have the meanings referenced or set out here or the meanings given to them in the Participation Rules, ECNL or by the industry regulator ARNECC.

Term	Definition
Anti-Virus Software	Software utility that detects, prevents, and removes viruses, and other Malware from a computer. Most anti-virus programs include an auto-update feature that permits the program to download profiles if new viruses, enabling the system to check for new threats.
Malware	Also known as malicious software, is any program or file that is harmful to a computer user. Types of Malware can include computer viruses, worms, Trojan horses and spyware.
Novated	Substitution of an original party to a contract with a new party, or substitution of an original contract with a new contract
Participation Agreement	The Participation Agreement (PA) is the overarching agreement between PEXA and each Subscriber. The PA includes: Obligations of both parties including privacy, confidentiality, liability, suspension, termination, insurance, disputes and change management. The PEXA Service Charter, PEXA Pricing Policy and PEXA Security Policy. The terms and conditions governing Financial Settlement in PEXA. A commitment by each Subscriber to comply with the Model Participation Rules, as outlined by ARNECC.
Patch	A set of changes to a computer program or its supporting data designed to update, fix, or improve it. This includes fixing security vulnerabilities and other bugs, and improving the usability or performance.
Primary Subscriber Manager	The nominated PEXA contact of the Subscriber. The Primary Subscriber Manager holds the highest level of access to the PEXA Exchange. They have the ability to: Create and edit Subscriber details Setup and verify Financial Account information Create and edit Users Create and edit Workgroups
Subscriber Administrator	Does not have access to Subscriber details or financial account information. They do have the ability to: Create and edit Users Create and edit Workgroups
Subscriber Security Policy	Sets out the security requirements that Subscribers must ensure that they and their Users adhere to when using the PEXA Exchange in order to maintain the overall security of the PEXA Exchange.
Workspace	A shared area in PEXA where Subscribers prepare property instruments and settlement documents for a property exchange transaction to effect lodgement and or settlement.

Re: Fee Schedule | Help Centre

Annette990 — Thu, 30 Jul 2020 00:50:26 GMT

Hello, can you please assist me to print a document showing all fees pertaining to each workspace?

Thank you very much,

Annette

Re: Residual Documents | Help Centre

Ashleigh — Wed, 29 Jul 2020 01:03:14 GMT

I am in the process of lodging a Section 58 application - Change Proprietorship - Vesting – Trust on Pexa. When I create the document, I receive an error message “There are currently no Applicant available.” and “The total shareholding for all Applicant does not sum to 1” when selecting the Tenancy Type as Sole Proprietor, which is the correct tenancy type based on the Certificate of Title, and the applicant has been created.

Can someone please advise on how to fix this? Appreciate your assistance.

Re: Notice of Death (NSW) | Help Centre

Annette990 — Tue, 28 Jul 2020 05:13:17 GMT

Thanks Saysa!

Re: Notice of Death (NSW) | Help Centre

Saysa — Tue, 28 Jul 2020 04:58:03 GMT

Hi ,

In SA, you can lodge a Survivorship (aka an Application to Register Death by Survivor) instead:

Hope this helps.

Thanks,

Saysa

Re: Notice of Death (NSW) | Help Centre

Annette990 — Tue, 28 Jul 2020 02:18:46 GMT

Hello Saysa,

Can you please provide me with Notice of Death instructions for South Australia, in the same manner as you have for NSW above? Your assistance is appreciated.

Kind regards

Annette

Re: Settlement Notification | Help Centre

Settlement — Thu, 23 Jul 2020 06:23:46 GMT

I'm using Flash Paste to store my frequently used emails which is great.

didn't know I could store templates as well? will try it,

Re: Justify a Mortgagors Name using the National Mortgage

AdamR — Tue, 21 Jul 2020 04:53:41 GMT

I have a scenario where a Mortgagors name is to be justified when lodging a National Mortgage in SA through PEXA.

In this case however there is already a mortgage registered. We are registering a second mortgage.

Can this be done through PEXA?

Thanks

Re: Using the Conversations Tool | Help Centre

DMc — Mon, 20 Jul 2020 07:53:58 GMT

OK Since we all know that PEXA is already different, How about we apply some common standards.

Especially with the Conversations order;

Anyone that has used a mobile phone chat/sms program for the past 20 years or so, would know that the latest messages are at the bottom because the reply box is at the bottom.

These are currently reversed in the PEXA browser.

This could and does have other ramifications to using conversations via the API which would have adopted the common chat standard. Allowing confusion to reign especially when conversations refer to "below" messages which depending on how viewed may be displayed "above".

Hope that makes some common sense. Cheers for listening!

Re: Introducing PEXA Key

DMc — Mon, 13 Jul 2020 06:43:00 GMT

The word "registry" is missing in end of first paragraph "What happens on settlement day?"

with the land... ...registry.

Any way to tweak, the mentioned timing under "Generally, it takes 15 to 45 minutes..." have been trying to manage client expectations to say ~1hr this is especially true in Bankwest trust accounts are involved.

Then funds can take ~3-24 business hours to be disbursed, per support line recommendations.

Often Sellers expect and want to know when funds will be in their account once settled too... suggest a notice for once funds have actually been disbursed too. 😉

Mentioned timing differs from reality.:/

Re: Introducing PEXA Planner

Saysa — Tue, 23 Jun 2020 22:43:03 GMT

PEXA Planner Release 2.2

PEXA is pleased to present PEXA Planner Release 2.2, scheduled for business go-live on 24 June 2020.

Feature updates

Reordered Dashboard menu links
New filter–Transfer document status

Reordered Dashboard menu links

The next time you access PEXA Planner, you’ll notice that we’ve reordered the Dashboard menu links so that Time Slot Planner appears as the third item (previously the fourth) on the navigation menu.

New filter–Transfer document status

We’ve added a new filter to PEXA Planner, allowing you to view and filter Workspaces based on the Transfer document status:

Not created
Transfer Workspaces where Transfer document hasn’t been created.
In preparation
Transfer Workspaces where Transfer document has been created but not verified with the Land Registry.
Prepared
Transfer Workspaces where Transfer document has been successfully verified.
Signed
Transfer Workspaces where Transfer document has been successfully signed by all relevant party(s).
Not applicable
Non-transfer Workspaces.

A special shout out to CBA, Vicki Philipoff Settlements, Maddocks and Stockland for their feedback!

Re: PEXA Fees and Lodgement Fees - FAQs

HeatherC — Mon, 15 Jun 2020 02:50:32 GMT

Hi ,

PEXA has opted to defer reviewing fees until January 2021 (see here for further information), but please note that land registries in some jurisdictions will be increasing their fees, so while you won't see an increase in PEXA fees, you may see one for lodgement fees.

Heather

Re: Fee Schedule | Help Centre

PrueHUTCHINSON — Mon, 15 Jun 2020 01:47:27 GMT

Only the relevant fees of course, not the whole thing.

Re: Fee Schedule | Help Centre

PrueHUTCHINSON — Mon, 15 Jun 2020 01:46:50 GMT

Please let me know where I can find a PEXA fee schedule for 2020-2021 - I wish to provide those details in my Cost Disclosure to clients.

Re: PEXA Fees and Lodgement Fees - FAQs

PrueHUTCHINSON — Mon, 15 Jun 2020 01:35:28 GMT

Looking for PEXA fee schedule for 2020-2021 - where do I find that?

Re: Introducing PEXA Planner

Jarrod_McAleese — Fri, 05 Jun 2020 07:00:53 GMT

How can PEXA Planner help your organisation?

PEXA Planner is an application built for high settlement volume organisations, aiming to assist with the management of Workspaces that are settling and are not yet in Ready/Ready status.

It uses easy-to-read dashboards to provide greater detail on upcoming settlements, enabling users to quickly assess what actions must be taken in order to move the file to Ready/Ready status and to assist with overall task prioritisation, leading to better outcomes for staff and clients.

The numbers

We’re currently in the process of rolling out PEXA Planner more widely to the industry, but initial results with our currently partnered organisations have outlined some very encouraging trends in key metrics.

Below are statistics comparing pre-PEXA Planner status and post-implementation growth for different organisations.

7% increase in Transfer Guideline #2: Invitation Response rate
6% increase in Transfer Guideline #4: Conversation Response rate
6% increase in settlements being completed without rolling
Uplift in the percentage of settlements signed on time (multiple cases)

We recognise that Transfer Guideline adherence and on-time settlements are of high importance to the financial institutions and it’s been wonderful to see how PEXA Planner has begun to help enable teams to more effectively balance their significant volume.

Recently, one of our PEXA Planner users kindly shared feedback with us, and outlined three key takeaways:

Visibility: PEXA Planner give us more visibility than we ghad previously.
Planning ahead: Manage the team’s time – manage staff breaks and days off based on how many settlements are scheduled for the day.
Signing: View what matters are coming up and at what time. This helps manage the time of solicitors who need to sign in PEXA.

If you’d like to learn more about PEXA Planner, check out our product overview here, or alternatively, please reach out to your PEXA Account Manager or email plannerinfo@pexa.com.au.

Re: Lease (NSW) | Help Centre

kristie1 — Thu, 04 Jun 2020 04:32:43 GMT

thank you Saysa

Re: Lease (NSW) | Help Centre

Saysa — Thu, 04 Jun 2020 04:16:42 GMT

Hi ,

No, it's not compulsory in NSW as it's not mandated yet. We don't have a date on when it will be mandated, but when we do we'll make an announcement on Community.

Re: Lease (NSW) | Help Centre

kristie1 — Thu, 04 Jun 2020 03:20:49 GMT

Is it compulsory for all leases in NSW to be registered via PEXA yet? If not is there a cut off date ?

Re: Withdraw a Caveat | Help Centre

Mez — Thu, 28 May 2020 06:12:32 GMT

Thanks for this explanation.

Does a caveat lodged by a purchaser between exchange and settlement need to be withdrawn after settlement?

Re: PEXA Help Cards

JessRiddell — Tue, 26 May 2020 06:19:38 GMT

Hi there,

Is there any information about lodging a charge over a title in Victoria?

Re: Transmission Application (APR) (VIC) | Help Centre

ThanhHa — Tue, 26 May 2020 02:23:15 GMT

- that is still the case in Victoria for now. I hope to be able to come back with more information soon.

Thanh

Re: Transmission Application (APR) (VIC) | Help Centre

CherieBrumley — Fri, 22 May 2020 04:16:04 GMT

Hi @ThanhHa

Just referring to your post dated 30-04-2018 (copy below) and wondering if this is still the case in Victoria now or if there is a way to lodge the APR for Mortgagee in PEXA now?

30-04-2018:

"The Transmission document currently only supports Proprietors on Titles. Transmission of an Interest Holder such as a Mortgagee will still need to be lodged via paper."

Look forward to hearing from you.

Thanks, Cherie

Re: Introducing PEXA Planner

ohunter — Fri, 01 May 2020 06:13:54 GMT

PEXA Planner Release 2.1

PEXA is pleased to present PEXA Planner Release 2.1, scheduled for business go-live on 08^th April, 2020.

Feature updates:

PEXA Planner now available to practitioners
New filters

PEXA Planner now available to practitioners

Since launching PEXA Planner to financial institutes in 2019, many banks have been able to successfully view and manage upcoming settlements across different Workspaces from a single Dashboard. We’re pleased to announce that we’re now making PEXA Planner available to practitioners. By extending this product to the practitioner market, practitioners who manage multiple transactions or projects can easily monitor and prioritise upcoming settlements.

Practitioners will have access to the same great benefits offered to financial institutions:

Ability to view and manage a list of Workspaces that are not in Ready/Ready status.
Receive continuous updates on Workspace statuses to prepare for high-volume upcoming settlements.
Filter based on requirements to narrow down on relevant Workspaces.

Additionally, the Workspace Role filter has been updated so that you can select roles that are relevant to practitioners.

New filters

We’ve added new filters to help you further narrow down your search results. These filters are available to both financial institutes and practitioners and can be applied to any Dashboard.

Project Name: Enables you to filter by the project name defined in PEXA Project and is relevant to subscribers who use PEXA Projects.
Assignee Name: Enables you to filter based on an allocated assignee and is relevant to subscribers who use PEXA Manager. Once a Workspace has been allocated in PEXA Manager, the assignee or the team lead can view the outstanding tasks of the User in PEXA Planner (thanks ANZ & Westpac for this feedback!).

Re: Creating a National Mortgage | Help Centre

Jgal3 — Wed, 22 Apr 2020 07:15:54 GMT

When we create this mortgage it is only signed by the Mortgagee, is that correct?

I understand for a mortgage to be a valid instrument it needs to be signed by the Mortgagor as well so as to indicate their acceptance of the terms of the mortgage.

Or do we do the normal National Mortgage form v1.5, have it signed by mortgagor and mortgagee, and upload it to the workspace?

Re: Residual Documents | Help Centre

JonTeh — Wed, 15 Apr 2020 21:47:48 GMT

Hi ,

Good question, this was recently mentioned in the latest CIB 200 from Land Use Victoria.

In short, yes a previous paper SPEAR lodgement can now be lodged via the new generic residual document, extract below:

The new Generic Residual dealing is available for PEXA subscribers that are not subscribers to SPEAR, however this method will have longer turnaround timeframes. For dealings available in SPEAR website (https://www.spear.land.vic.gov.au/spear/pages/about/what-is-spear/spear-dealing-types.shtml)

Re: Residual Documents | Help Centre

cdwong — Wed, 15 Apr 2020 02:53:01 GMT

Hi there, we have received advice from the Land Registry that plans of subdivision can be lodged via PEXA as an alternative to SPEAR. The Guide to Residual Documents, published by DELWP, does not however indicate that the plans of subdivision are part of the suite of residual documents that can be lodged on PEXA. The Guide to Residual Documents can be found here: https://www.propertyandlandtitles.vic.gov.au/forms-guides-and-fees/electronic-lodgment/key-documentation

Can you please let us know if plans of subdivision can be lodged via PEXA under the Residual Documents functionality?

PEXA Tracker FAQ

ohunter — Fri, 27 Mar 2020 03:16:57 GMT

What is PEXA Tracker?

PEXA Tracker is a search tool that produces a view-only summary of a Workspace. It is available to Financial Institutions who are PEXA Exchange Subscribers.

Why should I use PEXA Tracker?

If you are not a user of PEXA Exchange, it can be difficult to obtain updates on the status of a client’s PEXA settlement. PEXA Tracker provides you with a view-only summary of a Workspace, helping provide you with greater visibility of a matter. This enables you to monitor the progress of upcoming settlements and verify the status of Workspaces from the convenience of your desktop or mobile device.

Who do I contact if I want access to PEXA Tracker?

For more information about PEXA Tracker, or to inquire about gaining access, please contact us at trackerinfo@pexa.com.au

Can I view PEXA Tracker on multiple devices?

Yes. PEXA Tracker is available on PCs, Macs, mobile devices and tablets by logging on through a web browser.

Who can use PEXA Tracker?

Staff of a financial institution which is a subscriber of PEXA Exchange who do not have access to PEXA Exchange i.e. Relationship Manager, BDM.

What information does PEXA Tracker provide?

PEXA Tracker provides high level information contained in a Workspace that your organisation is a party to.

How do I look up a Workspace?

Workspaces can be searched using either the land title reference, subscriber reference or Workspace ID by inputting the details into the search bar and selecting ‘Search.’ Search results should appear for any workspace containing the characters entered in the search bar.

Workspace information
The Workspace screen contains 3 main sections beneath workspace search bar. To see tips about what each heading means, hover your mouse or tap over it to see explanatory information.

Workspace Summary Panel

This section includes the Workspace reference for your organisation (eg. ‘Grant-12238MatterTFR’ in the screenshot), PEXA workspace ID number, land title reference, Workspace status, settlement date and time, transaction type, the state or jurisdiction of the title, and if it is part of a multi-lot development, the project reference.

Workspace Statuses:

In Preparation	Documents and finances are still being prepared by participants
Prepared	Documents have been prepared and are ready to be signed. Stamp Duty verification and Lodgement verification are successful
Ready	All documents have been digitally signed by the required parties and lodgement verification is successful
Settling	Documents are being lodged with the land registry and financial settlement has been initiated
Settled	Documents are lodged with the land registry and financial settlement is complete

Activity panel

Just below the Workspace information panel, key activities are listed with a row for each participant. The participant’s role in the settlement is followed by their subscriber name (their organisation), whether or not they have accepted the settlement time, the documents they are required to sign along with their status, and whether or not they have signed the Financial Settlement Statement. To give clarity to what each participant should focus on, extra information is included with many of the ‘not signed’ statuses.

Outstanding Invitations

The final section of the Workspace page shows participants who have been invited, but have not yet joined, the Workspace.

What if the Workspace I’m looking for is not appearing in the search results?

Check that the information you have entered into the search bar is correct. Alternatively, try another method of search i.e. land title instead of workspace ID.

Why can’t I login to PEXA Tracker?

If a you have forgotten your password, please click on the ‘Forgot Password’ link below the login form and follow the prompts. If you are not a registered PEXA Tracker User, you will need to contact your organisation’s PEXA Tracker Manager or Administrator.

Can I access both PEXA Tracker and PEXA Exchange?

PEXA Tracker was designed for users who are not eligible for access to PEXA Exchange.

Can PEXA Tracker be viewed on multiple devices?

PEXA Tracker is available on PCs, Macs, mobile devices and tablets through a web browser. This means you do not need to download or install an application through either the Apple App Store or Google Play Store for Android.

Notice of Death (NSW) | Help Centre

Saysa — Fri, 15 May 2020 00:10:25 GMT

If a joint tenant is deceased, then the surviving joint tenant(s) can make an application to the Land Registry to have the deceased’s name removed, so that only the surviving proprietor’s name is on the Title.

Transfer of Interest (NSW) | Help Centre

Saysa — Sun, 15 Mar 2020 23:24:21 GMT

First published: 16 March 2020
Jurisdiction: NSW
Additional Resources: Help Card

Overview

A Transfer of Interest allows an Interest such as a Mortgage or Annuity Charge to be transferred from one interest holder to another.

Note: PEXA currently does not support the transfer of dutiable interest in NSW. Therefore, a transfer of interest for a lease or sub-leases is not supported as they require duty assessment.

The Transfer of Interest document can be created by participants in the following roles:

Mortgagee on Title—if you are transferring a Mortgage.
To Deal with an Interest—if you are transferring an Annuity OR if you represent the party receiving the Interest (this role is not available to Principal FIs).

To process a Transfer of Interest (of Mortgage or Annuity Charge), you are not required to complete a Notice of Sale.

Steps

Create a Workspace with the following settings:
- Jurisdiction: NSW
- Representative Role: To deal with and Interest or Mortgagee on Title
- Will this transaction involve a Transfer?: Yes
Complete the other fields as required.
Note: If the Workspace will not have have a financial settlement date and time, the party representing the Mortgagee on Title will need to wait for the To Deal with an Interest role to create the Workspace.
Review the Land Title.
Note: Multiple titles can be added to the Workspace to transfer the mortgage or annuity across the titles.
Represent the participants:
1. Invite the Interest Holder into the Workspace by clicking Invite Participant.
2. Represent the Mortgagee on Title or Interest Holder on Title by selecting Edit beside the unrepresented party.
  Note: Ensure that the party is invited in the role of Mortgagee on Title. This allows the Mortgagee on Title to exercise their right as the Interest Holder, to transfer the Interest to another party.
Create a Transfer of Interest document:
1. Navigate to Documents > Create Document > Transfer of Interest.
2. Complete the following fields on the Transfer of Interest screen:
  - Titles
    Check that the Title is correct.
  - Interest Affected
    Select the Mortgage or Annuity Charge to which the interest holder is transferring.
    Note: Multiple titles can be added to the Workspace to transfer the mortgage or annuity across the titles.
  - Tenancy Details
    Select the Tenancy Type and Party.
    The new interest holder of the interest is populated as the Transferee.
  - Consideration Type
    Select a Consideration type and fill in the subsequent fields.
3. Save the document.
Sign the Transfer documents.
The parties in the role of Mortgagee on Title and To deal with an Interest both need to sign the documents.
If applicable, prepare and sign the financial settlement.
If there is no financial settlement, then sign the documents. The responsible subscriber will need to submit the documents for lodgement.

Re: Transfers - Representing the Purchaser (all states) | Help Centre

DMc — Mon, 09 Mar 2020 07:30:25 GMT

Improvement suggestion.

I know there an HTML version in the finalized Workspace zip file, however perhaps a simple download to PDF button of the PEXA - Transfer of Land (e-TOL), especially once Duty is verified.

As the OSR prefers to view 'all the Duty evidence together' is there a simple way to either;

download and separately compile the e-TOL as PDF for their records?
Perhaps an alternative upload to workspace and compile (and possibly even submit to OSR) the Duty evidence;

(usually Certificate of Duty, TOL, Contract & any applicable Residential rate, Foreign Durty Declaration, First Home Home Owner Rate forms)

to OSR for their Audit requirements.

I would imagine this would make steps to the same use for other Auditor requirements.

Re: Workspace History | Help Centre

lathan_thurpu — Fri, 28 Feb 2020 07:20:11 GMT

Hi team

Currently the history tab only shows the groups name and not individual name who is making any changes to the workspace, can you please develop the site to show individual email ID ? is it possible or is it something which should not be done due to Risk.

Please advise

Thanks

Re: Fee Schedule | Help Centre

centrecon — Thu, 20 Feb 2020 01:48:42 GMT

I act as agent for a firm of solicitors who have appointed me and authorised me to act on their behalf. I am to lodge a dicharge mortgage, along with one other DM and one or maybe two new mortgagees.. I have arranged to collect my fee and the mortgage payout fee y puting them in destinations. Do I need to get the Registration fee $170.00 and $16.06 into my accounts to meet payment or will they be funded by incoming motgagees?

Change of Name (WA) | Help Center

Saysa — Mon, 18 May 2020 07:06:05 GMT

Published: 10 February 2020

Jurisdiction: WA

Additional Resources: Help Card

Overview

A Change of Name document is now available in WA. If a party on title or an Interest Holder has changed their name, they can now lodge this document to have their name updated on title.

The Change of Name document can be lodged either:

Standalone, OR
Together with a Mortgage, preceding it in lodgement order.

In WA, where a proprietor requires a name justification prior to the lodgement of a Mortgage, a WA 'Change of Name' document will need to be created and signed by a representative of the proprietor.

Please note that the proprietor's representative must complete the Change of Name document.

This means that the Mortgagee will need to invite to the Workspace, a representative of the proprietor. Upon creation of a Change of Name document, the Mortgage will reflect the updated name and both documents can be lodged together in the same lodgement case.

Holders of the following Interest Types can lodge a Change of Name to update their name on title:

Carbon Covenant Benefit
Carbon Right
Caveat
Charge
Crown Lease
Lease
Mortgage
Plantation Interest
Profit-a-Prendre
Sub Lease

The following optional attachments may be submitted for lodgement with a Change of Name document:

Steps

Create a new Workspace with the following settings:
1. Representative role:
  - Standalone:
2. Financial Settlement = No
Review the Land Title:
1. Review the On Title party names
2. Check the other land title details returned from Land Registry.
Select the party to justify:
Note: In a refinance/new mortgage, invite the Proprietor on Title into the Workspace and wait for them to represent the party.
1. Navigate to the Participants screen.
2. ClickEdit Party next to the party who is changing their name.
3. For Representation, leave I represent this party
4. In the Name field, enter their new name.
5. In the Name On Title section, select a Justification reason.
6. Complete these steps for each party who has changed their name.
  Note: If the party is an organisation, then an ACN must be provided on the Party screen. Both the ACN and updated organisation name must match the ASIC Register.
7. Save the changes.
Create a Change of Name document:
Note: In a refinance/new mortgage, the Proprietor on Title must create the Change of Name document first.
1. Navigate to Documents > Create Document > Change of Name.
2. By default, the represented party’s details is pre-populated with the name you updated in Step 4.
3. Add a correspondence address
4. Click Save.
  Notes:
  - Only parties who are represented and have a name justification will be pre-populated here. Check that the pre-populated information is correct and that an address has been provided.
  - If there are multiple parties with a name justification, then create a change of name document for each party within the same lodgement case.
Edit the Lodgement Instructions
You will need to Edit the Lodgement Instructions to progress your status to Prepared.

From the Actions column select Edit to edit the Lodgement Instructions. Review the information and click Save.
Note: If the Title is a Duplicate Certificate of Title, ensure you enter the Duplicate Holding Details and select the appropriate Issuing Details for the new Certificate of Title.

You can now view and sign the caveat.
Before you Sign, it is important to view the rendered document to confirm details. From the Actions column select View to view the Lodgement Instructions and Change of Name.
From the Actions column select Sign to sign the Lodgement Instructions and Change of Name.
Once signed, select Submit for Lodgement from the Actions column.

Macquarie Transfer Checklist | Estate Matters

Jarrod_McAleese — Fri, 07 Feb 2020 01:19:09 GMT

Before processing an Estate Matter in PEXA, the request for consent or discharge must be received and assessed by Macquarie in writing (paper or email).

How to complete an Estate Discharge Matter:

Call 1800 087 820 to obtain a Discharge Authority Form

Complete the Discharge Authority Form and email to clientservicesupport@macquarie.com
If you have opened a workspace, please confirm the Workspace ID

How to complete a Consent to a Transmission Application or Survivorship Application:

Email clientservicesupport@macquarie.com to ask consent
Attach a copy of the PEXA Consent to a Transmission or Survivorship Application
If you have opened a workspace, please confirm the Workspace ID

Please note: You can only proceed with an Estate Matter (discharge or consent) once the assessment by Macquarie is complete. If there are outstanding documents required to assess a request, Macquarie will advise you.

Re: Installing the digital certificate | Help Centre

DMc — Wed, 05 Feb 2020 02:19:12 GMT

Merely in case of use.

I notice that you have been able to join the Community, which itself has an email notification when your set Search query is matched.

email you when an article or comment matches your query/search-term

Hope that helps!

Re: Common Error Messages

TheDoctor — Wed, 05 Feb 2020 02:11:21 GMT

g'day

Yep, sorted.

Internal IT issue.

No idea what it was or how it was fixed.

You know how those IT guru's can get.

But they got the job done, that's the main thing.

Re: Common Error Messages

DMc — Wed, 05 Feb 2020 02:06:45 GMT

Brett were you able to get this sorted?

Did you find the cause and solution?

Re: Installing the digital certificate | Help Centre

GeorginaBenson — Wed, 05 Feb 2020 00:23:38 GMT

Hi , sorry for the delay on responding to you!

This generally shouldn't take this long, but can depend on your internet connection. If you haven't been able to confirm if this is installed yet, please feel free to give support a call on 1300 084 515 and we can quickly check this with you.

Thanks

Georgina

Re: Common Error Messages

DMc — Sun, 02 Feb 2020 00:02:45 GMT

HA HA. Was closer to 6 in WA. But couldn't sleep as adjusting back from EDST. What are you doing in PEXA on a Sunday morning? If your trying to work on the weekend, Your issue could be related to PEXA rolling out the release updates!

Re: Common Error Messages

TheDoctor — Sat, 01 Feb 2020 23:03:35 GMT

G'day DMc,

what are you doing logged on this early on a Sunday morning mate.

What is it 7am?

Yeah, I have also emailed PEXA Support.

Re: Common Error Messages

DMc — Wed, 05 Feb 2020 02:04:44 GMT

Maybe try another browser (perhaps Firefox) if that still fails try another device. There maybe system, Anti virus or malware updates, or policy changes from your IT admin.

Contact PEXA support as many failed attempts can block your access...

BTW IE browser warning https://community.pexa.com.au/t5/Security-Updates/Microsoft-Internet-Explorer-Critical-Zero-Day-Vulnerability/m-p/18841

Re: Common Error Messages

TheDoctor — Sat, 01 Feb 2020 22:39:06 GMT

I am getting constant 403 errors when trying to log in.

I have cleared cache etc. still no luck.

Using Chrome but have also tried IE with same result.

Have been able to push through it with a few attempts until today.

Now cannot get in at all.

Any suggestions?

Re: Installing the digital certificate | Help Centre

StephenJohnModderSolicitor — Tue, 28 Jan 2020 08:20:20 GMT

how long should step 1 downloading the software take, not sure if mines working its been downloading for over half hour?

PEXA Planner Release 2.0 | 22 January 2020

Saysa — Fri, 01 May 2020 04:08:01 GMT

PEXA Planner Release 2.0

PEXA is pleased to present PEXA Planner Release 2.0, scheduled for business go-live on 22 January 2020.

Feature updates

UI Uplift
Next five-days view
Automatic time zone adjustment
‘Apply’ button applied to all filters where applicable
Filters drop down rather than up

Bug fixes

Filters did not apply to all charts on current Dashboard
'Docs not signed' populated with "0" values

UI Uplift

PEXA Planner has received a minor UI uplift that incorporates an updated logo and a reformatted header and footer. This uplift can be seen across Internet Explorer and Google Chrome browsers, and all workflow remain the same.

Next five-days view

View upcoming settlements, up to the next five business days, by using a drop-down. By default, the current date is displayed.

Note: If a public holidays falls within the five-day view then the public holiday will be omitted from the drop-down.

Automatic time zone adjustments

We’ve corrected the time zone for Internet Explorer users so that the Dashboard automatically adjusts to display the settlement date and time based to the user’s time zone.

'Apply' button applied to all filters where applicable

A new “Apply” button, which lets you complete your filter selection, has been added to all applicable filter menus.

Previously, the screen dynamically updated as you changed your filter selection. The “Apply” button lets you continue changing options until you click “Apply”, which triggers the filter.

Filters drop down rather than drop up

Filter menus open as a drop-down rather than a drop-up, enabling you to view more menu items and scroll less.

Filters did not apply to all charts on current Dashboard

Fixed. Now when a filter is applied, all charts within the current Dashboard are updated. This update is now applicable to all Dashboards.

'Docs no signed' populated with "0" values

Fixed. The Actions Required table on the Daily Settlements dashboard now displays the correct values within the “Doc not signed” row. Previously, all entries across this row incorrectly showed "0". We've fixed this so that the correct number is populated in each cell.

Re: Gadens Brisbane Transfer Checklist | Help Centre

danielR — Mon, 20 Jan 2020 03:21:41 GMT

Hi Jess,

We understand that due to funding arrangements settlements with panel firms need to be in the afternoon, we were never asking for/expecting settlement to be in the morning. However, 3.00pm AEDST as the earliest time is ridiculous. It doesn't even allow enough time for purchaser's to move into their new home in business hours.

Re: Gadens Brisbane Transfer Checklist | Help Centre

Jess_Caire — Fri, 17 Jan 2020 02:28:14 GMT

Dear

Thank you for your post, and we empathise with this situation. For panel firms acting for Lenders, funding arrangements and availability from the Lender mean that settlements have to occur in the afternoon. Please see the link below in regards to the Gadens process;

https://community.pexa.com.au/t5/Help-Centre/Gadens-Brisbane-Transfer-Checklist-Help-Centre/ba-p/17660

How to initiate a Purchase request:

Gadens will accept a workspace invitation once the lenders instructions have been confirmed. Gadens cannot accept settlement date and time until all documents have been received from the Lender.

When all documents have been received by Gadens, we require four business days to book in the settlement date and time.

Gadens require the following details on the PEXA invitation:

Gadens Reference (if available)
Full name of the customer
Security Address
Loan number/ Application number

Preferred Settlement Times (AEST/AEDT)

Gadens preferred settlement time is 2pm onwards.

Please note: On settlement day, Gadens requires lender funds to be cleared in their trust account to be able to verify for funds for settlement.

Re: Verifying your Accounts | Help Centre

Natalie — Wed, 15 Jan 2020 02:05:35 GMT

Hello

For information on how to verify your trust account, please feel free to view the link below:-

https://community.pexa.com.au/t5/Help-Centre/Link-Users-to-your-Trust-Account-if-applicable-Help-Centre/ba-p/151

Kind Regards

Natalie

Re: Verifying your Accounts | Help Centre

JML1 — Wed, 15 Jan 2020 01:59:26 GMT

I need to verify my trust account. Searching for the dashboard, Administrator tools etc. Can you assist?

Re: Gadens Brisbane Transfer Checklist | Help Centre

danielR — Tue, 14 Jan 2020 23:43:45 GMT

So Gadens Brisbane won't settle purchases prior to 2.00pm AEST, which is 3.00pm in Victoria. How is everyone ok with this?. I have a settlement next week where an elderly woman is going into a retirement home. Her removailist is booked in the morning(as we all agreed to settle at 12.30-1.00pm until Gadens just changed the time on the workspace). She will be ready to go into the retirement home around 12.30-1.00pm, but now she will have to sit around until almost 4.00pm(once the funds are cleared into the retirement home account and they give the ok to move in) because of Gadens Brisbane refusing to settle the matter prior to 3.00pm. This is simply not good enough. Not only is it going to cost a pensioner a lot of extra money, it is the middle of Summer, what if it is 40 degrees that day?. Forcing the elderly to be getting around in the peak heat of Summer because of a selfish policy is a disgrace. We will be making a complaint to the Legal Services Commission regarding this.

Re: Justify a Mortgagors Name using the National Mortgage

fslm — Thu, 09 Jan 2020 16:42:33 GMT

Thank you Gemma.

As a conveyancer involves in her refinance I used this information to send to my lender to insist it be done this way (new mortgage in married name). Now, I can see a DM and new M and no other registrable dealings; yet PEXA are charging 2 registration fees for the mortgage.

Can you please guide me through why?

Thank you

Re: Transfer of CT Control Guide | Help Centre

MeganTenn — Wed, 08 Jan 2020 01:03:30 GMT

Hi ,

There are two ways you can provide eCT control to a bank for the purposes of registering a mortgage:

1. You as the eCT Controller can create a separate workspace, create a document called Transfer of eCT Control, select the bank you are transferring control to and once the bank accept the invitation from their end, they will have control of the title; or

2. The bank can create their mortgage workspace, invite you in as the CT Controller, you create the nomination of title to their mortgage and once the mortgage is lodged, eCT control will transfer to the bank.

In your above example, the bank have opted for option 2, so all you need to do is wait for the bank to create their mortgage first, then create and sign a nomination - selecting "no" to retaining eCT control after the transaction - and the bank will be able to select how they want the title issued back to them.

Hope this makes sense, feel free to reach out if you need anything further!

Re: NAB Transfer Checklist | Help Centre

sonia-collins — Tue, 07 Jan 2020 03:59:55 GMT

Hi all,

not answering on behalf of NAB, as i am SGB, but the Refinance Guidelines were reviewed and adopted for implementation by the FI's and or their representatives in Aug 2019.

A FI Industry working group of all FI's were invited to discuss review and adopt

The goal of having Bank to Bank transactions (refinances) to occur mid week (and in the afternoons) was to ensure that Transfer workspaces were given priority for file readiness and settlement ie POF, FSS as most Transfer settlements were as described above (Fri) or in the AM on any weekday.

Having refinances on mid week does not exclude the opportunity of Transfer settlements, it just redirects other non-transfer files to those days. (note: if there is a linked transfer/Non-transfer settlement then most FI's did agree to default to the Transfer workspace date/time)

Transfer workspace limitations only appear to be on an individual FI on when POF, funds availability etc is and it did not limit settling M thru F on any day.

Hope this helps.

Re: Transfer of CT Control Guide | Help Centre

AeYco — Tue, 07 Jan 2020 01:03:12 GMT

Hi, what if in the case where we are transferring the CT Control to Bank. We are the eCT controller and Bank requires that we transfer control of the title so that they can register the mortgage. Bank created a workspace, and have invited us as CT Controller. We do not see an option in the documents tab to create "Transfer of CT Control".

Is this the case of Pull Approach? and that the bank should create a workspace in the role of CT Controller? We also noticed that their representation in the workspace, they have noted it as "Incoming Mortgagee". Kindly clarify? Thank you.

Re: NAB Transfer Checklist | Help Centre

DMc — Fri, 03 Jan 2020 04:57:32 GMT

May be time to revise & .

In my experience generally, a Seller (POT) usually prefer the weekend/holiday to move-out...

Whilst a Buyer (IP) prefers the time to move-in...

making the 'before and after' a Weekend and/ Holidays the most desirable days to Settle.

Unless of course, there's NO moving to be done, ie for Vacant Land, Commercial Property, or simply arranged other suitable days to move. They might prefer mid-week days for settlement instead.

Re: NAB Transfer Checklist | Help Centre

TJ — Fri, 03 Jan 2020 04:31:13 GMT

That's the idea , - refi's are generally completed mid-week in order to reserve resources for transfer transactions which are mostly done on Fridays.

Re: Key points for Linked Settlements | Help Centre

DMc — Fri, 03 Jan 2020 04:28:08 GMT

Where an additional Title is being added to a WS for a refinance & it shows another MOT and the Buyer also as POT.

May I suggest a Warning for original POT practitioner/representative in this case, to at least warn them about the un-required task of "Update Party" for that additional Title which has nothing to do with them...

Maybe even a reference to the other title as a linked dealing would reduce some confusion and calls to support.

Re: Participating in a Refinance as the Mortgagee on Title | Help Centre

DMc — Fri, 03 Jan 2020 04:26:30 GMT

Where an additional Title is being added to a WS for a refinance & it shows another MOT and the Buyer also as POT.

Re: NAB Transfer Checklist | Help Centre

DMc — Fri, 03 Jan 2020 03:49:42 GMT

Seems so Baz.

Strange how it refers to Monday as OK, instead of Thursday, nor either side of Public Holidays... maybe they were considered QUIET days at the time... go figure!

Re: NAB Transfer Checklist | Help Centre

BGoodwin — Fri, 03 Jan 2020 03:15:47 GMT

Thanks quick as a flash as usual. I don't have a problem with the idea, but surely an "Industry Guideline" or even a "NAB Guideline" would be broadcast to the "Industry".

Thanks for the additional information . Didn't come up in my search - so that's been around since 2016?! Baz...

Re: NAB Transfer Checklist | Help Centre

DMc — Fri, 03 Jan 2020 03:08:19 GMT

Only see PEXA Refi-Guideline of https://community.pexa.com.au/t5/Help-Centre/Refinance-Guidelines-Help-Centre/ba-p/26

However my guess would be to free up time (slots & staff load) for the busiest days of the week (Fridays & Mondays & around Public holidays) for e-Settlements...

But as you mentioned they are only referring to as a Guideline, not Gospel!

Re: NAB Transfer Checklist | Help Centre

BGoodwin — Fri, 03 Jan 2020 02:58:24 GMT

We're receiving conversations from NAB regarding a "Industry Guideline" that Refinance Settlements are to settle only on a Tuesday, Wednesday or Thursday. I haven't heard of that and can find no reference to this requirement. Can anyone enlighten me? Baz...

Re: Completing a Simultaneous Settlement | Help Centre

PennyR — Sun, 15 Dec 2019 05:40:12 GMT

I am acting for clients selling a property in Sydney and they have instructed another firm on the agent's advice to act for them on the purchase of a property on the central coast. As I understand it both contracts have a simultaneous completion date. Can a financial settlement be linked on the sale and the purchase where I do not act on the purchase?

Re: Transfer of Interest—Mortgage or Annuity Charge (VIC) | Help Centre

TSullivan — Thu, 05 Dec 2019 20:39:54 GMT

Hi Sharron.

Apologies for the very long delay in response. I hope this solution will help you when you have a similar transaction next time!

For this scenario, where one of the 'interest holders' (mortgagee) is staying on Title as Mortgagee, it would be best to take the following steps:

Create the workspace in role 'To Deal with an Interest'
Create Party A as an Interest Holder
Add role of Mortgagee on Title
Represent the Mortgagee on Title Parties A and B
You should now be able to successfully create Your Transfer of Interest document From Mortgagees A & B to A.

Regards,

Travis Sullivan - PEXA

Re: St George (inc. Bank of Melbourne & Bank SA) Transfer Checklist | Help Centre

SArmes — Thu, 05 Dec 2019 00:40:45 GMT

I think it is really hard to comply with these guidelines when St George aren't willing to do so themselves.

I don't understand how I am expected to advise them of the total funds required at least 5 business days prior to settlement when they wont communicate anything to us.

I think it is time for the banks to actually start abiding by these rules or change them.

All Help Centre posts

Re: Lease (NSW) | Help Centre

Re: Lease (NSW) | Help Centre

Re: Lease (NSW) | Help Centre

Re: Adjustments and Payments view in the Financial Settlement Schedule

Re: Adjustments and Payments view in the Financial Settlement Schedule

Re: Survivorship (WA) | Help Centre

Re: Accept or Change Settlement Date and Time | Help Centre

Re: Accept or Change Settlement Date and Time | Help Centre

Re: Accept or Change Settlement Date and Time | Help Centre

Survivorship (WA) | Help Centre

Overview

Evidence Requirements

Steps

Related topics

Re: Introducing PEXA Planner

New Dashboard: POT Daily Settlements

New filter: ESS Workspaces

Dentons Transfer Checklist | Help Centre

Re: Bank Transfer Checklists (tips) | Help Centre

Re: Bank Transfer Checklists (tips) | Help Centre

Re: Part Tenancy Transfer (SA) | Help Centre

Priority Notice | Help Centre

Bank of Queensland | Transfer Checklist

Enhanced Settlement Summary workflow

Overview

ESS workflow

Steps

General ESS workflow

1. Accept the proposed settlement date and time

2. Enter the Balance due to Vendor amount

3. Assign shortfall responsibility

4. Enter loan proceeds

5. Confirm accounts

6. Assign Vendor surplus responsibilities

7. Enter line items

To enter payment destination line items:

To enter source line items:

8. Complete purchaser funds

Where the Incoming Mortgagee holds client authority for shortfall

Where the Incoming Mortgagee does not hold client authority for shortfall

9. Enter purchaser shortfall amount

Where the Incoming Mortgagee holds client authority for shortfall

Where the Incoming Mortgagee does not hold client authority for shortfall

10. Enter final loan payout figure

11. Complete vendor funds

12. Enter vendor surplus funds

13. Check funds are balanced

14. Sign Financial Settlement Schedule

Re: PEXA's Enhanced Settlement Summary

Re: Withdraw a Caveat | Help Centre

Enhanced Settlement Summary | Support for banks

Re: Introducing PEXA Key

Re: Transition from SettleMe to PEXA Key

Re: Transmission Direct to Beneficiary (NSW) | Help Centre

Re: Transmission Direct to Beneficiary (NSW) | Help Centre

Re: Completing a Simultaneous Settlement | Help Centre

Re: Completing a Simultaneous Settlement | Help Centre

PEXA's Enhanced Settlement Summary

UPDATE

New setting to indicate if transaction is a Sale or Purchase

Ability for Mortgagee on Title to assign surplus handing

Set up surplus handling

Key summary of changes

A complete view of settlement funds

New Transfer Indicators panel

Balance due to Vendor

System calculations

Other improvements

Signing Status

Completing line items

Entering shortfall amount

Entering surplus amount

1. Funds balance bar

2. Transfer Indicators panel

3. Purchaser summary column

4. Vendor summary column

5. Stamp Duty panel

6. Settlement Signing Status

Funds balance bar