Industry transformation - Mandate Dates

[MorganConveyancing]

Why does it say that the Discharges and Mortgages only relate to ADIs that have a conveyancer or lawyer representing them.   If a bank does not have a conveyancer or lawyer representing them, does this mean they can still lodge a stand alone mortgage and/or discharge by paper?

[MatthewGillet]

Hello @MorganConveyancing

Thanks for the question, it is a very good one.

This is a carve out in the Registrar's Requirements for discharge of mortgages, mortgages and refinances . In essence, during this phase, the mandated extended to select organisations being Authorised Deposit-taking Institutions (ADSs) and legal/conveyancing practices that represent ADIs. A couple of examples are as follows:

Example 1 - A bank that does its own mortgage processing in house such as ANZ Bank

Example 2 - A mortgage processing specialise business such as Dentons, Galilee, MSA and FMS

This mandate excluded private mortgagees and mortgages held by non-ADIs. A example of a non-ADI is Aussie Home Loans

Thus to your question, if the bank is doing their own mortgage processing or outsources their processing to a conveyancing or legal firm than they must lodge them digitally. 

I hope that clears up your query. Please reach out if you have any further questions

Regards, Matt 

[MorganConveyancing]

Thanks.

[JessicaW]

Morning @MatthewGillet

In Victoria I understand by 1 March 2018 all stand alone transfers must be lodged electronically. Can you please clarify that this would not include a transfer where a charge of annuity under section 74 of the TLA  and restrictive covenant is registered with the transfer? Accordingly, this transfer would need to be registered by paper.  

Perhaps it would also be worth confirming the nature of this transaction post 1 October.

Kind Regards,

Jess.

[MatthewGillet]

Hi @JessicaW

You are correct that all standalone transfers in VIC must be lodged online from 1 March 2018. The most common example of this is a cash purchase with an unencumbered title.

With regard to your question regarding restrictive covenants, that depends if you view a transfer with a restrictive covenant a stand-alone lodgement.

PEXA supports lodgement of transfers that reference the covenant registered as a Memorandum of Common Provision in the transfer form but doesn’t have the T2 paper form per se.

My best suggestion is to contact Land Use Victoria should you wish to lodge a Standalone T2 in paper between now and 1 July 2018. As they will need to assess if it fits in with the “stand-alone”

However from 1 July 2018, the paper T2 form will be discontinued which definitely means that from that point it fits clearly within the Registrars Requirements

Matt

[bfriedeberg]

Good morning

The Conveyancing Rules do not provide any guidance regarding the electronic lodgement of:

1. property acquisition notices;
2. voluntary planning agreements; and
3. water access licences.

Is the intention that these will in the future also be able to be lodged electronically?

If so, is there any guidance on when?

The PEXA timetable indicates that , for instance, 'all transactions' in Victoria are intended to be able to be lodged electronically from 1 August 2019.

Does 'all transactions' include the above 3? What is the plan for NSW?

Many thanks

Betina

[Ames]

HI @bfriedeberg

Victoria's 'all transactions' are transactions on the Land Register, not the water register (no WALs). They would include planning agreements (section 173) and acquisition notices such as section 54 of TLA, section 10 of Land Acquisitions Compensation Act. These will form part of the residual document solution in Victoria.

NSW does not have an 'all transactions' date which would require all transactions to be lodged electronically, but we do have a plan to deliver residual documents in NSW also (subject to relevant changes also being made at the Land Registry/operator).

Hope this helps.

Ames

[TiborCsapo]

Dear Colleagues, 

I have a NSW matter with a standalone Transfer that settled with paper Certificate of Title and Transfer just before 1 July 2018 and was not able to be registered before then. Can I still send them in for registration as normal? I can't seem to get the PEXA transaction working to lodge it electronically. 

Many thanks for any assistance. 

[GeorgePolus]

Hi Tibor,

Please allow me to clarify.

Are you saying that a settlement was completed prior to July 1, but the lodgement of the paper dealings was not submitted to NSW LRS prior to July 1?

If so, the rule that NSW LRS will apply is that provided the dealing was signed prior to the mandate date, then a paper dealing will be accepted for lodgement, even if submitted post the mandate date.

If however, the dealing was signed after the mandate date, NSW LRS will not accept the dealing. 

These rules are NSW LRS rules, and not PEXA rules.   PEXA facilitates electronic lodgement according to rules set by jurisdictional registrar. 

Regards,

George

[BGoodwin]

Hi,

We have a matter coming up on 11/10/18 which involves a Refinance in Victoria and a simultaneous Purchase in Queensland.

The purchasers Solicitors (Qld) are not registered for PEXA and have no intention of settling the purchase in PEXA.

I'm pretty sure that's not a acceptable reason to do a paper refinance in Victoria, and we don't see how we could effectively settle both within PEXA and outside of PEXA simultaneously.

Just seeking suggestions on how to handle this matter.

Barry...