Can you tell me if we can do Surrender of Leases via the platform as yet. For NSW. I have a matter coming up that we will need to lodge a surrender on settlement and need to know if we can do this on PEXA or we have to convert to a paper settlement.
Not yet I am afraid. NSW LRS is yet to build the capability on their end to accept electronic Surrender of Lease. Current plan is to have this capability enabled at NSW LRS by mid 2020. PEXA will then be able to lodge Surrender of Lease in NSW.
On a more positive note, NSW LRS will commence passing interests in land (other than Mortgage) to PEXA as part of Land Title data from August 2019. This will enable creation of sub-leases in PEXA . Also, PEXA will be enabled to transfer interests.