16-08-2018 01:49 PM - edited 29-07-2019 11:34 AM
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.
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.
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.
Furthermore, the following transfer types are not yet available in PEXA, therefore they cannot be completed electronically:
If you have a matter that cannot be settled electronically, please request the lodging party complete and attach the document 'Request to accept paper lodgement' found at this webpage: https://www.propertyandlandtitles.vic.gov.au/forms-guides-and-fees/title-management
From 1 October,
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.
on 27-08-2018 12:58 PM
Surname is now optional in Pexa. therefore, vendor or purchaser having one name is not exemption for pexa settlement.
on 05-09-2018 06:13 PM
Good afternoon all,
Just seeking confirmation as to whether land transactions involving water entitlements (eg water share transfer in respect WEE shares) which are usually lodged with the Water Registry would be considered 'out-of-scope' and the whole transaction exempt from the requirement to be completed via PEXA?
An example being a farmer purchases a farm comprising of several certificates of title and included in the purchase is a water entitlement for a couple of water shares. Clearly the land transfer component can be done via PEXA, but there is not the same ability to do so for water shares.
If it is the case that this type of transaction is not capable of being completed via PEXA, can you please let me know what exemption it falls under in order to 'tick' the box for the 'Registrar's Requirements Exceptions' - is it the first one?
* Non - ELN enabled Jurisdiction as part of the Transaction set
* a folio of the register cannot be dealt with in the ELN
* complex stamp duty assessment cannot be completed through duties online
* Transfer of Land is an exception from electronic lodgement (see LUV customer bulletin 180 for details of transfer types)
on 05-09-2018 06:26 PM
I don't think the land lodgement would be exempt. You could still lodge the transfer in respect of land via PEXA and the transfer against the water register outside of PEXA.
on 26-09-2019 01:01 PM
Well we just got caught out with the 1 August mandate. We refinanced a FI - one loan, two security properties (VIC and ACT). We don't consider a simultaneous PEXA and Paper Settlement to be workable.
NSW exempt elodgement transactions when a non-PEXA jurisdiction is involved, but this apparently is no-longer the case in Victoria and we now need to organise a PEXA transaction to lodge the Vic documents.
In the real world how are we supposed to handle simultaneous PEXA and Paper Settlements? Do we have our Settlement Agent check the paper settlement documents before the PEXA workspace is locked, then wait around until the PEXA workspace is settling?