Hi Community,
1 October is just around the corner and I’d like to share with you some important exemptions and out-of-scope instruments. These will help you recognise the few instruments that will not be possible online.
To recap, Land Use Victoria announced that any instrument or combination of instruments signed on or after 1 October 2018 and available in PEXA, must be lodged electronically.
The requirement to lodge electronically applies to conveyancers and lawyers acting for a party or themselves, and PEXA subscribers.
Exemptions
If any instrument in a case is signed prior to the 1 October, then the requirement to lodge electronically will not apply.
For example, a combination of instruments to be lodged might include a Withdrawal of Caveat signed on 10 October 2018, a Discharge of Mortgage signed on 25 September 2018, a Transfer of Land signed on 10 October 2018 and a Mortgage signed on 10 October 2018. In this example, because the Discharge of Mortgage was signed prior to the 1 October 2018, the requirement to lodge electronically would not apply and the instruments could be lodged in paper.
Please note, the above example can be completed electronically however is not a requirement from 1 October.
Out-of-scope
If your transaction falls into one or more of the below ‘out-of-scope’ categories it cannot be completed electronically and must revert to paper.
- Parties with a single name e.g. Madonna or no last name
- Holding in dual capacity (where a party holds a property in two capacities i.e. John Smith as Executor ½ share and John Smith ½ share)
Furthermore, the following transfer types are not yet available in PEXA, therefore they cannot be completed electronically:
- a folio of the Register that cannot be dealt with in an ELN
- an instrument affecting more than 20 folio
- by a minor where the minor is transferor
- creating an easement
- of an interest, e.g. a lease
- of part of land in a folio of the Register
- of a tenant in common’s share
- a survivorship or transmission application that is not available electronically, such as a survivorship application by an interest holder.
- that cannot be assessed in Duties Online (www.sro.vic.gov.au/dutiesonline).
The Registrar’s Requirements Exceptions letter should be completed and attached to your paper settlement Victoria (will be made available at www.propertyandlandtitles.vic.gov.au).
SRO update
From 1 October,
- Duties Online transaction types must be processed electronically using an electronic lodgement network operator.
- All remaining complex transactions which cannot be completed in Duties Online and PEXA, still need to be lodged electronically with the State Revenue Office for a duty determination before registration. The SRO is planning functionality to enable the electronic completion of complex transactions.
- In all cases, practitioners need to be registered for Duties Online and PEXA.
To help prepare for 1 October, PEXA’s training team are hosting a number of webinars to help you get ready. The list of webinars are registration links and can be found here.
If you have any questions, feel free to add your questions below.
I have also attached Land Use Victoria's Customer Information Bulletin 180 which has further details.
Cheers
Jonathan
