Community home
Menu
  • PEXA Certified Expand

    PEXA Certified

    This program will give you an introduction to PEXA, how it works and how it can help you transform your business processes.

    Discover More
    • Getting Business Ready
    • System Set Up
    • Transacting in PEXA
  • Help Centre Expand

    Help Centre

    Here you’ll find more than 230 help articles and videos to assist you.

    Discover More
    • Help Articles
    • Help Videos/PEXA TV
    • PEXA Interactive Demos
    • FAQs
    • Ask a Question
    • PEXA Certified
  • Ask a Question
  • Share your Experience
  • Raise an Idea
  • Blogs Expand

    Read the latest in our blogs.

    Keep up to date with the latest PEXA product releases, and read up on the property blog.

    Discover more
    • Community Blog
    • The Property Blog
    • Security Updates
    • PEXA Product Releases
    • Announcements | Outages etc
    • The Bank Blog
    • Workspaces
      Community
      Register
      Log in
    Apps menu
  • Register / Login

Community Home
Register / Login

Understanding Nominations of Title (eCT or paper) in Victoria

cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
  • Community
  • :
  • Join the Discussion
  • :
  • Ask a question
  • :
  • Understanding Nominations of Title (eCT or paper) ...

Understanding Nominations of Title (eCT or paper) in Victoria

Reply
Topic Options
  • Subscribe to RSS Feed
  • Mark Topic as New
  • Mark Topic as Read
  • Float this Topic for Current User
  • Bookmark
  • Subscribe
  • Printer Friendly Page
  • All forum topics
  • Previous Topic
  • Next Topic
  • « Previous
    • 1
    • 2
  • Next »
  • All forum topics
  • Previous Topic
  • Next Topic
NancyC
NancyC Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

‎16-04-2019 09:53 AM - edited ‎16-04-2019 10:09 AM

‎16-04-2019 09:53 AM - edited ‎16-04-2019 10:09 AM

Re: Understanding Nominations of Title (eCT or paper) in Victoria

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.

2 Likes
Reply
Eliza
Eliza
New Contributor
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎31-05-2019 09:24 AM

on ‎31-05-2019 09:24 AM

Re: Understanding Nominations of Title (eCT or paper) in Victoria

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? 

  • Tags:
  • additional security
  • paper CT to eCT
  • separate security
0 Likes
Reply
MeganTenn
MeganTenn Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

‎31-05-2019 04:39 PM - edited ‎31-05-2019 04:40 PM

‎31-05-2019 04:39 PM - edited ‎31-05-2019 04:40 PM

Re: Understanding Nominations of Title (eCT or paper) in Victoria

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.

 

Megan Tennyson
PEXA Partner (VIC)
Partner Program
2 Likes
Reply
lisa
lisa
New Contributor
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎02-09-2019 05:17 PM

on ‎02-09-2019 05:17 PM

Re: Understanding Nominations of Title (eCT or paper) in Victoria

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

  • Tags:
  • eCT Control
  • Nomination (Vic)
0 Likes
Reply
  • « Previous
    • 1
    • 2
  • Next »
PEXA

|

Facebook Twitter LinkedIn
  • Support
  • Privacy Policy
  • Terms of Service