Acting for mortgagor with stand alone discharge after full payout of mortgage debt

[Josephine18]

As legal practitioner do I need to be involved in the PEXA workspace when Bank is the discharging mortgagee controlling eCT?

Is delivery of a discharge authority to the bank sufficient to trigger the discharge process on PEXA by the Bank?

Will the paper CT be only delivered back to the Bank?

Would I need to participate in the PEXA workspace if the discharging mortgagor requires the paper CT delivered to me?

Would I need to participate in the PEXA workspace notwithstanding the only financial component of the discharge will be payment of Bank's fees and lodgment and PEXA fees, where the mortgagor provides authority within the discharge authority for their bank account to be debited with these fees?

[Karolidis_and_Co]

Hi Josephine

I don't think you need to be involved, the bank should be advised by the client that a paper title is required.  From experience the lender will likely require the client to pick up the title directly though.

Regards

Nick

[sonia-collins]

Hi 

from our FI process, Nick is correct. 

Provided the customer has provided all the details as mentioned, then matter can be completed by the Bank.

The customer arranges for the CT collection (or other instructions if required) post the CT return from the relative LTO.

Return of CT by LTO is taking approx 5-7 working days.

thanks

Sonia

[sharond1]

Sonia, we have recently discharged a mortgage from St George for a client. NSW LRS has forwarded the paper CT to St George. Please let me know who to telephone to arrange for the CT to be sent to our firm. I have posted several messages in the the conversation section of the PEXA workspace without result.

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[sonia-collins]

Hi Sharon,

thanks for reaching out. 

Could please PM me with some more details and I will provide you the area the contact.

thanks

Sonia

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@sharond1 wrote:

Sonia, we have recently discharged a mortgage from St George for a client. NSW LRS has forwarded the paper CT to St George. Please let me know who to telephone to arrange for the CT to be sent to our firm. I have posted several messages in the the conversation section of the PEXA workspace without result.

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