on 09-04-2018 03:53 PM
Is the following transaction on scope or do we need to complete on paper?
Dad, Mum and Son are registered proprieters as TIC - Dad and Mum as JP and Son as SP. Dad and Mum are now wanting to transfer their tenancy to Son and Daughter-in-law as JP. The consideration will be natural love and affection and the proeprty is a family farm.
on 10-04-2018 07:56 AM
I couldn’t see whether you were in Vic but currently the situation is as follows:
Under Registrar’s requirement 6.5 the following exceptions to lodging using an Electronic Lodgment Network (ELN) include:
• a transfer is lodged with any other instrument for the same folio(s), including a survivorship application
• a transfer is of a type that as at 1 March 2018 is not available in PEXA, such as
- transfers by mortgagees
- transfers by a minor
- transfers creating an easement
- transfers of an interest (e.g. a lease or mortgage)
- transfers of part of land in a folio of the Register
- transfers of a tenant in common’s share
- transfers that cannot be assessed for duty by the State Revenue Office Duties Online – details of the transaction types able to be processed in Duties Online are in the tables of transactions and combinations of transactions available on the SRO website at www.sro.vic.gov.au/duties-online-transaction-types
- transfers affecting more than 20 folios
• a survivorship application that is to be lodged with any other instrument, unless the other instrument must be lodged electronically – this includes most discharges of mortgage, mortgages and withdrawals of caveat. If the discharge of mortgage, mortgage or withdrawal of caveat is an instrument required to be lodged electronically, that instrument must be lodged using the ELN. The survivorship application would then also be lodged electronically. In other cases, by way of example, a survivorship application and a caveat may be lodged in paper, as would a survivorship application and a discharge when both are lodged with a transfer (e.g. following a settlement)
• a survivorship application that, from 1 March 2018, is not available in PEXA, e.g. a survivorship application by an interest holder.
on 10-04-2018 12:12 PM
Thank you @jgusew.
Yes, it is for Vic and falls under the "transfers of a tenant in common’s share" category and therefore not able to be transacted via PEXA. Can you please confirm?
10-04-2018 01:09 PM - edited 10-04-2018 01:10 PM
There is not much riding my word by way of confirmation sorry, it is best to check with LUV.
We have contacted the front counter manager on numerous occasions and he has been really helpful, sorry i cannot remember his name.
Alternatively, @PaulMajor might be kind enough to confirm?
on 10-04-2018 02:52 PM
A transfer with these circumstances would relate to one of two or more proprietors who hold the ownership as tenant in common transferring their interest. This is as explained in the bulletin article mentioned earlier and is exempt from the current mandate requirement.