on 29-12-2017 11:57 AM
Hi All ,
Had a query in relation to a Purchase matter for a NSW security where the title has the Qualified title Cautions - PURSUANT TO SECTION 28J OF THE REAL PROPERTY ACT .
Note that the caution has not yet lapsed and will remain on the title at settlement .
While the property shows up as valid on PEXA on the Land title lookup.
However I would like to know if the Lodgements (ie Transfer and Mortgage) can be completed over PEXA with the Cautions present on the title . Granted that these cautions have not lapsed at settlement and are still valid . Or does this transaction need to proceed as a usual Paper settlement with Cancellation of Caution being lodged to remove the Cautions .
on 29-12-2017 02:42 PM
Firstly, welcome to the Community !!
Thank you for posting your question. I've forwarded your query on to the NSW Land Registry to be answered by a Senior Technical Advisor. I will post you a reply as soon as I hear back from them.
on 29-12-2017 03:15 PM
Hi, we have not had any difficulty with qualifications or limitations on title if the caution is remain, obviously we obtain evidence of satisfactory title prior to settlement (ie abstract, old system search etc)
on 02-01-2018 07:07 PM
on 09-01-2018 11:20 AM
Hello again RansomK
I've followed up with the NSW LRS with your specific query. They have replied...
"Qualified Titles are eligible for electronic transactions. You should be able to lodge your dealings through PEXA."
Thanks for asking the question in the Community.