on 12-06-2019 09:33 AM
Hi @Procon just wondering as we're less than a month out from 1 July 2019, since your previous posts have you come across anything/ anyone in the econveyancing community that clarified how deposit bonds were going to be workable?
on 12-06-2019 10:03 AM
Hi @SRichmond ,
The last correspondence from PEXA when I raised this as a ticket with them was in February this year:
"The land registry hasn’t been particularly clear about what they will and won’t accept in regards to this as it will be on a case by case basis. They’ve basically said the parties will know if the pending criteria is accurate to be lodged in paper.
I know this probably doesn’t help all that much, so it may be better if you contacted the land registry directly with your exact scenario for them to then be able to provide a concreate(sic) answer."
From my knowledge, there has been no advise from either the Land Registry, PEXA or industry bodies as to how this will be dealt with. Pushing requirements on us without answers to all possible scenarios is unreasonable.
on 12-06-2019 11:40 AM
Good news, in NSW Waiver CR-2-2018-Non-Land-Securities applies to these scenarios. Therefore you may continue to lodge bank guarantee matters in paper where it makes sense to do so.
My understanding is this waiver will continue to apply post 1 July, 2019. @DavidMcDowell are you able to confirm?