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

pCT in electronic settlement

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
  • :
  • pCT in electronic settlement

pCT in electronic settlement

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
MelaniePalmer
MelaniePalmer
New Contributor
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎24-10-2017 11:21 AM

on ‎24-10-2017 11:21 AM

pCT in electronic settlement

I am in NSW and I hold a pCT with no encumberances.

 

The purchasers wishes to have a electronic conveyance.  What do I do?  Do I need to have an eCT for settlement or do I just give the purchaser the pCT?

 

Thank you.

Category:
  • NSW
  • Tags:
  • pCT to eCT - NSW
0 Likes
Reply
  • All forum topics
  • Previous Topic
  • Next Topic
1 REPLY 1
GeorgePolus
GeorgePolus Star Employee
Star Employee
  • Mark as New
  • Bookmark
  • Subscribe
  • Subscribe to RSS Feed
  • Highlight
  • Print
  • Email to a Friend
  • Report Inappropriate Content

on ‎25-10-2017 08:31 AM

on ‎25-10-2017 08:31 AM

Re: pCT in electronic settlement

Hi Mealanie,

 

In the jurisdiction of NSW only an APRA registered ADI may hold electronic 'Control of Right to Deal' (CoRD).    

 

Given your clients' title is unencumbered by a Mortgage, it is standard practice in NSW that the title is a paper duplicate.

 

If the title was issued post Jan 1, 2004 it will have a Certificate Authentication Code printed on it.   This is known as the CAC.   The CAC is unique to each printed edition of a Certificate of Title in NSW and is specifically designed to be used in an electronic dealing as evidence of CoRD.

 

So, how do you create the CoRD Consent? 

 

When you enter the PEXA workspace as Proprietor on Title (Vendors Representative), navigate to the 'Create Document' screen and select the option to create a CoRD Consent. 

 

When prompted to enter evidence of CoRD select the option to enter the CAC.  Be sure to transcribe the CAC correctly. 

 

When PEXA initiates Lodgement Verification the dealings in the lodgement case (including the CoRD Consent) will be sent to NSW LPI for validation.   As part of this validation check LPI will validate the CAC number against their internal records.  If the CAC number entered accords with the CAC number LPI have on record for the title most recently issued, then validation will pass. 

 

If your clients' title was issued prior to Jan 1, 2004 it will not have a CAC.

 

In this case the title will need to be 'Produced' to NSW LPI.   This is because the Registrar must be satisfied that the title is properly authenticated.  

 

Upon submission of the title to LPI a Production Receipt, complete with Production Receipt Number will be issued. 

 

The Production Receipt number may be used in PEXA (in the same manner as a CAC) as evidence of CoRD to complete the electronic Consent. 

 

Please contact me @GeorgePolus if you have more questions. 

1 Like
Reply
PEXA

|

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