on 13-09-2018 02:55 PM
on 13-09-2018 02:55 PM
Withdrawal of caveat that includes the financial settlement step e.g. where an unregistered mortgagee is the caveator on title and needs to be paid out.
How do i go about this?
on 19-09-2018 12:16 PM
on 19-09-2018 12:16 PM
Hi Cathy
When you create the workspace in the role of Caveator in Title, be sure to select 'with financial settlement.
Once the workspace is created, invite the Participant representing the Proprietor(s) against whom the Caveat applies.
This participant will come into the workspace in the role of PoT. No documents needs be prepared by this participant, only completion of a source funds line item with sufficient funds to cover the claimed amount, plus any professional fees, lodgement fees and PEXA fees.
In your role. you will create a few Destination line items:
In your role you will also crate the Withdrawal of Caveat.
The PoT representative, will be required to to enter Source Funds to balance the Settlement Schedule.
Once your firm and the PoT rep have agreed settlement date and time, balanced and signed the Settlement Schedule and your firm has signed the WCav and Lodgement Instructions, the workspace will be Ready for Settlement at the agreed settlement date and time.
Please let me @GeorgePolus know if you have more questions.
Regards
George