Victoria - Strata Titled properties & associated Car Park Titles

[nicolalambrakis]

In Victoria where strata titled properties with an associated car park have separate (linked) titles, is there any plan for PEXA & LUV to develop the capability to show this link on the Title screen? 

As we all move 'online' with our transactions & no longer have physical 'packets' with CTs enclosed we have seen an increase where the linked car park is being missed.  In some cases the title search will display "Registration of Dealings with this Unit is Restricted" which can be investigated however this is not always the case. As a mortgage needs to be taken over both titles, failure to identify the car park results in a requisition & rework & the banks taking on the risk of unsecured debt when the workspace financially settles.

Thank you

[GeorgePolus · Accepted solution]

Hi Nicola

Both LUV and PEXA are acutely aware of this issue.  Unfortunately, at present the information is not always available at LUV and consequently not sent to PEXA.   

Work is being undertaken to improve the process.   For now, there is a reliance upon the Proprietor and Lodging Party to ensure that all Associated / Restricted titles are included in a given dealing set. 

Please let me @GeorgePolus know if you have more questions.

Regards

George 

[nicolalambrakis]

Thank you George.

I've also spoken with Paul Major at LUV about the opportunity in future to add this type of information to the eCT - which could then flow through to PEXA.  It would be ideal if we could build on the technology of an eCT to allow us to display a link between the strata titled property and car park

[TheDoctor]

Hi @GeorgePolus

A question on a similar old issue.

In the past the PEXA/LUV integration meant that Unrestricted titles were incorrectly treated the same as Restricted titles.

I have been trying to find a Restricted tiles example so I can test it but they are few and far between.

Can we now action workspaces on the individual Unrestricted titles rather than having to include the other Unrestricted titles in the workspace?

thanks

Brett