Am I able to lodge a settlement notice with 'as trustee' in Pexa?

[CarterLesterLawyers]

I am currently trying to create a settlement notice only without a financial settlement as the Incoming Proprietor is a trust.  when I have created the Settlement Notice, the transferee details load incorrectly with 'as trustee' written before the ACN. This may cause a requisition if created this way in paper when the transfer documents are lodged. 

Firstly, am I able to lodge a settlement notice with 'as trustee' in Pexa?

Secondly, if so, how do i record 'as trustee' correctly following the ACN, not prior to the ACN?  (given that the wording of the settlement notices cannot be manually amended).

[cheryldixon]

This is a great question so thank you for asking.  @GeorgePolus I think you would be best placed to provide the answer to this question for the team @CarterLesterLawyers.

[GeorgePolus · Accepted solution]

Hi

In short the answer is no.  

In the immediate term due to a scope restriction, PEXA is unable to support scenarios in QLD where a party is either on title, or coming on to title in a Capacity.  For example as Trustee or Personal Representative.   This restriction applies equally to a Settlement Notice and Transfer of Land. 

The QLD Land Registry currently excludes titles from electronic lodgement where the proprietor is on title in a Capacity.  PEXA does not currently enable, and the QLD LR and OSR are unable to accept and process the requisite data elements which enable specification of the Capacity in which an Incoming Proprietor is to come on to title. 

PEXA the QLD Land Registry and QLD OSR are working together to lift these restrictions.  At present no firm date is set. 

[SimonV]

Following on from George's post, it is exciting to note that QLD has some new developments around dealing with Titles held in capacity. Read here for more information! https://community.pexa.com.au/t5/Ask-the-PEXA-Community/Titles-held-in-capacity-New-PEXA-upgrade-QLD...