There has been some confusion over Financial Institution requests for a copy of a transfer of land when the settlement is proceeding in PEXA.
Financial Institutions have clarified that in the scenarios below they will make a request to the Incoming Practitioner to send a copy of the Transfer of Land regardless of whether the transaction is to proceed in PEXA or paper:
Change of ownership, i.e. a divorce where title is changing from two names to one
Head Transfer or Subsequent Sale, i.e. property sold to one party who on sells to another
Nomination of new or additional purchaser
When the Transfer document is in status: In Preparation the necessary details are viewable and a simple screen print of this information can be provided as per the example below: