Caveats to remain on titles and registration timeframes....

[Marianne1]

Hello team..

I have a question...I have a file coming up for settlement and there is a caveat registered on title...it is to remain following settlement

I loaded in the title details into workspace and it was available for electronic lodgement.  I recall when it was paper based, I needed caveators consent to registere dealings sooner rather than later or otherwiseif it was not provided  my documents went into time expiry date and Caveator was written to by LTO Vic and if at end of approx. 28 days the documents were then registered. Will this happen in pexa or will it register straight away and the responsibility is mine to ensure I am ok with caveat position. As this is an actual file, I can discuss with pexa team over the phone or email if needs be.  Look forward to your input...........

[GeorgePolus]

Hi Marianne,

In VIC, the Registrar requires Caveators Consent in order for a dealing to be lodged over a Caveat.

To lodge a dealing over a Caveat in the Lodgement Instructions select 'Add Dealing requirement'.   Select 'Caveators Consent'

The lodgement case will then be accepted for lodgement.  However, LUV will require that the Caveators Consent be presented before the dealings will register on title.

Please let me knwo if you require further information.

@GeorgePolus

[Marianne1]

Thanks for the update.. I am assuming here if I don’t have caveators consent My dealings will not be registered But it will not hold up settlement???

[GeorgePolus]

Hi Marianne, 

If no Caveators consent is provided, the dealing will lodge, dealing numbers will be returned and funds will settle.   However, registration will not complete until due process re: the Caveat and Caveator are completed.   

Please let me know if you have more questions.

@GeorgePolus

[Kerri]

We are refinancing another Bank and there is a caveat registered over title that requires consent.  We have received this consent in writing can we process this refinance via PEXA?

[TJ]

Hey @Kerri,

I think a similar question may already have been asked and your scenario covered by @GeorgePolus.

Is this info handy?

[Kerri]

This information was helpful only question would be how is the caveators consent provided if we have this is paper form ie who and how is this presented to allow for registration to be completed.

[GeorgePolus]

Hi Kerri,

It is standard practice in VIC to physically deliver and present the Caveators Consent to the lodgement desk at LUV.   

When doing so, be sure to recite the DEALING Number(s) of Documents lodged subject to Caveators Consent to ensure that the process as LUV is not unnecessarily impeded.

Please let me know if you have more questions - @GeorgePolus

[Marianne1]

Hello George & Kerri

My settlement where this is involeved is yet to occur..it is due shortly.. Once I received the caveators consent I was going to post an update as to what I did and how my settlement/lodgement proceeded so that the question would then be finalised. I will still do this once my settlement has been done...