Understanding Nominations of Title (eCT or paper) in Victoria

[NancyC]

Hi @Ashlee_Cameron 

Yes if you hold the title you can lodge a Nomination as CT Controller in the Transmission workspace, with the remaining tenants in common proprietors unrepresented.

In the Nomination, you can select yes or no to the question "Do you wish to retain eCT/electronic control of the title after the transaction?"

If you select yes, this means the title will be issued to your firm as an eCT after registration of the Transmission. No issuing instructions can be entered into the Lodgement Instructions for the Transmission, as those instructions are already specified in the Nomination.

If you select no, this means that issuing instructions for the title will need to be entered in the Lodgement Instructions for the Transmission. The title can only be issued to a party in the Transmission lodgement case. In your scenario it can only be issued to the Estate solicitors.

If you require a paper title, your options are as follows:

Option 1

Select yes to retain eCT control of the title after registration of the Transmission. Following registration, you can make an application to convert the eCT to a paper title. This application is made directly with Land Use Victoria, and the form can be found here.

Option 2

Select no and have the title issued to the Estates solicitors as a paper title, then make arrangements to collect the paper title from that firm.

I hope that helps.

[Eliza]

I have a paper CT needed as security for a separate transfer of property. Can I nominate the Paper CT to eCT in a separate workspace so that the bank has access? 

[MeganTenn]

Hi @Eliza,

If the document is being lodged via PEXA, then you will need to be invited into that workspace as the CT Controller so you can nominate the title, making it available for the transaction within the workspace.  

If the document is being lodged via paper and you have a paper title, you will need to hand over the paper title at settlement, as usual.

[lisa]

Hi @NancyC and all , 

In response with your Scenario 1: 

Where the title is currently an eCT and lodgement will be completed via PEXA

• Scenario 1:  A Nomination is not required if the CT Controller is a party to the transaction. See Example A
• Scenario 2:  A Nomination is required if the CT Controller is not a party to the transaction. See Example B

Example A

The CT Controller is the mortgagee on title. A Discharge of Mortgage and Transfer will be lodged together in the same lodgement case via PEXA. A Nomination is not required as the mortgagee is a party to the transaction, having prepared the Discharge of Mortgage which forms part of the lodgement case.

I inform that your above advice is correct, but is only limited to the situations where the Mortgagee of Title or the eCT controller is one of the Big 4 banks (e.g. CBA, ANZ, NAB and Westpac). 

If the mortgagee on title or eCT controller is not one of the big 4 banks, then a Nomination must be completed and lodged for settlement to proceed. 

Further practical note:

• If an error message appears under Lodgement Instructions requiring that a Nomination is required, do not  "edit" the Lodgement Instructions as the error message will disappear. The fact that the error message disappears does not mean that the Nomination no longer needs to be completed and lodged. 
• Do not rely entirely on the outstanding "Tasks" in the workspace. It acts as a guide only. Sometimes it may not show all required tasks that needs to be done. (E.g. verify source funds etc). 

Hope this will help other PEXA users! 

Kind regards, 

Lisa