Hi Megan
I have provided a two part response to your question. I have done so as I am not clear about what you are asking. In your question you ask if the LR will send notification of dealings landing on title to interested parties. Without a Settlement Notice how are you suggesting the LR will know who, if any one, to notify? This is the part of your question I do not understand.
That said, please let me know if the below is of assistance. If not, please get back to me and I will work with you to drive to a clear response.
PART 1
As I am sure you are aware, lodgement of a Settlement Notice is optional. Its' effect is to protect the interests of incoming parties from dealings for which ‘control of right to deal’ is required. A settlement notice will not protect against other dealings such as a caveat. It is up to workspace participants to determine if they wish to lodge over an interest on title such as a caveat.
PART 2
As for notifications of dealings that land on title during the interval between title search and settlement;
- In the PEXA workspace a Title Activity Check is executed two weeks prior to settlement, then one week prior and then nightly on the last 5 days approaching settlement. Finally, a Title Activity Check is executed one hour prior to settlement.
- The PEXA Title Activity Check will notify all workspace participants if activity has occurred on title. If activity is noted, the PEXA Title Activity Check results will identify the date and time stamp of the activity on title, as well as the Document Type and Dealing Number.
