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Please advise the PEXA fees when acting for multiple parties in a related family transfer.
Sister A and sister B own a property as tenants in common in equal shares. The husband of sister B is purchasing sister A's share of the property.
We act on behalf of the buyer (husband) and seller (sister A). We will also be acting for sister B and husband to change the tenancy of the property from tenants in common to joint tenants.
Does each of sister A, sister B and husband incur a PEXA fee of $112.63?
PEXA Fees for Transferor and Transferee parties are applied per transfer Counterpart.
In the scenario you describer their will be two Counterparts generated by PEXA that will be signed by your firm. So the total fee will be 2 x $112.63
A given practitioner may represent any number of parties. As long as all parties are referenced in the same counterpart then the PEXA fee will be forone counter[part - $112.63.
If on the other hand, a second practitioner were to represent B or B's husband, then a third counterpart would be generated and this counterpart would also attract the PEXA fee of $112.63.
Please let me @GeorgePolus know if further clarification is required,