on 15-08-2018 08:37 AM
The scenario is, our client has delivered their paper title and paper discharge (discharge of mortgage is dated 2.9.2015). The property is not yet sold and as the auction is late August with a 60 day settlement, it's likely to be settling post 1.10.2018. How do I manage the registration of the discharge of mortgage and conversion of the title to electronic in readiness for the Pexa workspace?
on 23-08-2018 10:42 AM
Hi Tracey @TA_TP
You've got a couple of options here:
1. Send the discharge and title back to the bank prior to settlement and request they discharge the mortgage and send you the paper title. You can then settle this matter on PEXA with a paper title.
2. Settle the matter in paper after 1 October as this date applies only to documents (transfer, discharge, mortgage etc) signed on or after 1 October. Your transaction would not have to be lodged electronically as the discharge of mortgage is signed prior to 1 October.
on 24-08-2018 04:34 PM
We have lodged a couple of paper Discharge requests through PEXA by uploading the original Paper discharge and Paper title into the File Section, invited the relevant bank to the workspace, once they have accepted sent them a conversation detailing that we wish to discharge the mortgage using the old paper discharge that is located in the file section and they have then proceeded to sign off on the Discharge.
Hope that helps