Change of manner of holding between registered proprietors - Victoria

[PeninsulaConveyancingandLegal]

Hi all, I understand this is available from 5 Feb but can't see any tutorial or checklist etc. on applying for change in the manner of holding between registered props. There's a bank involved. Any help would be much appreciated. Thanks, Jennifer

[ereese]

Hi Jennifer,

I have exactly the same question - 2 registered proprietors (joint tenants) wish to change the title into 1 of their names only, there is a bank involved (Westpac).

How do we deal with the need for the bank to "produce" the eCT for the transfer to occur?  Are there additional fees for this (analogous to the old "made available" fee)?  What sort of timeframes apply when a bank is involved?  Also are there any additional documents or information we will require from the clients (eg market value of property)?

Thanks, Erika

[GeorgePolus]

Hi Erika and Jennifer,

All that is required is to invite the bank into the workspace in the role of Consenter / CT Controller, following creation of the Transfer of A&B as JT's to A as Sole P. 

The bank will then Nominate the title to the lodgement case containing the transfer.   

There is no fee for Nomination of a title to a lodgement case.   Neither Lodgement Fee nor PEXA Fee. 

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

Regards

George