on 23-02-2018 06:10 PM
I'm looking for advice from other FIs regarding sub-divisions in NSW where we no longer receive a paper title. Upon lodgement via PEXA, we receive an excel spread sheet (CoRD Notices) from NSW LRS that contains confirmations of dealings lodged - however the data contained is minimal & does not include the PEXA WID or Subscriber Reference. In addition, once the subdivision has been completed, the new CT details are not advised via the CoRD notice (the parent title details are listed only) and we are not able to update our security information with the new VOL/FOLIO details.
How are other FIs dealing with this? We have approached NSW LRS to update the CoRD Notices spread sheet however they have advised this will not be possible.
on 26-02-2018 02:56 PM
This is something that we have been grappling with as well.
So far we haven't found an easy way to resolve it that doesn't involve doing a search.
Would be very interested if someone has a better way.
on 27-02-2018 03:22 PM
I posted a year ago about the lack of information on NSW Registration Notices and the need to perform a post registration search to confirm title details, as many of our Lender clients are doing. Seems this problem also applies with Subdivisions.
I got nowhere with the then Land & Property Information. Maybe the new Land Registry Service might consider an upgrade if approached by the right industry representatives. I'd love to know the major Banks opinions.