on 25-10-2016 01:19 PM
ok problem.... we did a registration for a new mortgage in Pexa and nominated paper ct (waiting for LTO to send it back). The property has now been sold and settlement is looming. Can we change from a paper CT to an ECT before it has been returned to us??
thanks in advance!
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on 26-10-2016 11:05 AM
Thank you for the question.
As this title is now a pCT, it would be best to adopt the following process depending on the manner the property settles.
1. If the sale is to settle on PEXA - Wait for the paper title to arrive, complete the nomination and mortgage electronically under the current PEXA process
2. If the sale is to settle in paper - wait for the title to be sent to you and settle in the current manual way.
You are unable to convert a pCT to eCT for a manual settlement in PEXA.
If the settlement is due very soon, get in touch with us and we can work with all partners including Land VIC
on 27-10-2016 10:27 AM
thanks Matt for your response. it seems that CBA converted a ect to a pct before settlement?? so it must be able to be done?