Can PEXA settlement happen after lodgement of App or do you have to wait for Registration?
We're acting for both parties in a Settlement and there's an Application to Register Death and Transmission Application to be lodged in series. Can I lodge the AD & TA and the LTO and then do the transaction on PEXA or do I have to wait for Registration? Settlement is 21st Dec so just wondering with regard to timing
Re: Can PEXA settlement happen after lodgement of App or do you have to wait for Registration?
In short, you won't be able to lodge the PEXA transfer until the ND and TA have been registered.
PEXA retrieves Land Title data from the Land Titles Office. From Land Title Data, PEXA obtains the Proprietor (transferor) name.
In this case, I am guessing there were two proprietors as joint tenants. One passed, and the ND had not been registered prior to the passing of the other. Hence the need for an ND followed by a TA. It follows that until both the ND and TA are registered, land title data brought into PEXA would show the names of the (now deceased) joint proprietors. Only once the ND and TA have been registered will the Executor named in the TA be registered on title and be able to be brought into the PEXA workspace.
NOTE: If it were the case that you happened to create a PEXA workspace prior to registration of (in this case) the ND and TA, all is not lost. Once the ND and TA are registered a Title Activity Check (TAC) would advise you of registration of new dealings. The TAC will advise of the dealing type, dealing number and date and time of registration. You cold then invoke Registry Information Re-Supply. In this case the (now deceased joint proprietors) would be 'replaced' in PEXA on the land title screen by the registered Proprietor in Capacity as Executor (or as recorded on the TA). Any documents in the workspace referencing the proprietor name(s) would be updated and, if signed, unsign,
From a Road Map perspective, the TA will be enabled in SA on PEXA from PEXA R8 (May 2018). The ND will be enabled in SA on PEXA from R9 (Nov 2018).
Please contact me @GeorgePolus if you require further information.