on 24-10-2017 01:53 PM
on 24-10-2017 01:53 PM
Hi all,
Does anyone know if there is one registered mortgage over several titles can you lodge all discharges in one workspace or need seperate ones for each vol/fol.
Thanks,
on 25-10-2017 08:18 AM
on 25-10-2017 08:18 AM
Hi Kelsey,
If there is one registered mortgage over multiple titles you may lodge a single discharge of mortgage document in PEXA. A PEXA workspace will allow up to 20 land titles to be brought into a single workspace.
All that is required is the the legal name of the Mortgagee on title is the same on each title.
In the jurisdiction of VIC, each title will need to be 'made available' to the Discharge of Mortgage dealing. This is effected by lodgement of a Nomination by the Party in control of right to deal, be they in possession of the paper duplicate CT or the electronic token, CT Control. Note that from November 2017 the Victorian Registrar will remove the need for a Nomination of title in dealings where the Party in Possession of CT Control is signatory to the dealing.
In the jurisdiction of NSW, the CoRD holder will be required to Consent to the Discharge of Mortgage dealing. This is effected by lodgement of a CoRD Consent in the same lodgement case as the dealing.
In both VIC and NSW, lodgement of a Nomination / CoRD Consent is free of both PEXA and statutory lodgement fees.
Please contact me @GeorgePolus if you have more questions.