on 17-10-2018 03:15 PM
We act for the wife and pursuant to Family Law Consent Orders the ex-husband is required to transfer his interest in the property to the wife. The wife is obtaining finance and will also transfer part of her interest in the property to her current partner. In Victoria, the requirements are that there be two Transfers of Land so the matter cannot be set up in the same workspace. We are therefore not sure how to set up the transactions in PEXA. We have created a workspace in relation to the ex-husband and wife transfer. We have also set up a separate workspace in relation to the transfer from the wife to her and her current partner. The problem is that the wife is required to make a payment to her ex-husband which will be advanced by her lender. The loan, however, is in both her name and her current partner's name. The transfer to the wife must settle prior to the transfer to her and her current partner. If we link the matters together to be settled sequentially, are the funds from the lender going to be able to be disbursed in relation to the first transfer and then subsequently to the second transfer. Further, the second workspace still shows the ex-husband as one of the registered proprietors so the matters cannot settle simultaneously as the first transfer must settle prior to the second transfer.
Any thoughts on how we can properly set this matter up in PEXA?
17-10-2018 04:45 PM - edited 17-10-2018 05:09 PM
Hi @Weston3130 these can be done in one Workspace if both transfers relate to the same Vol/Fol.
on 17-10-2018 08:07 PM
Essentially you want a transfer from A to B, then B to C. You can follow these instructions:
Hope this helps - Ames.