We are acting for a mortgagee and need to register a standalone Victorian mortgage over a paper title. The paper title has been sent to us by the proprietor on title.
How do we now nominate the title for the mortgage registration?
With the PEXA 7.0 changes, can we do the nomination ourselves (because we hold possession of the paper title) or do we need to invite the proprietor on title's representative into the workspace? Does the proprietor on title's representative need to do the nomination?
Thanks for your question Chris, as you hold the paper certificate of title and have been instructed by your client, the incoming mortgagee, to represent them in this transaction, you simply need to complete a nomination in PEXA prior to lodging the mortgage.
The creation, signing and lodging of the nomination will affect the conversion of the paper certificate of title you hold to an electronic certificate of title to support the lodgement of your subsequent standalone Mortgage in PEXA.
Please find detailed steps here and come to back to us either here on Community or email, with any further questions.