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This article has been created from the discussion here.
A: When you represent both parties in a transaction in PEXA, you must add the other role in Workspace Settings:
Once you return to the Dashboard, you will notice a new Workspace for the additional role has been created.
Thanks Emily, this is a frequently asked question and now subscribers can bookmark this page as a reference tool. Thanks again.
This is great, will come in very handy
Question re funds: The purchaser is transferring the settlement monies to our trust account which is great. We act for the vendor who is executor of deceased estate so settlement funds are to be retained in our trust account (an internal trust transfer is then done to reflect the change of funds ownership). Will PEXA still effect lodgement of registered proprietor information if the only funds being transferred via PEXA at settlement is PEXA fees?
Hi @Prue, we do recommend to exchange the funds in PEXA. Sources and Destinations (Adjustments & Payments) need to balance in order for settlement/lodgement to take place. Please note, that you will need to complete the lodgement of the APR in a separate workspace to the Transfer of Land, unless you have already completed lodgement of the APR in paper.
Please note: You cannot lodge a Transfer of Land in PEXA if, a party has an interest on title in their own right and will end up having another interest as executor.
For Example: John and Mary are on title as Tenants in Common. Mary is deceased, APR has been lodged and John is also the executor. The title issues in the name of John (in his own right) and John as executor of Mary.
@KarenBarr I have a transfer where the Executor (Transferor) is the same person as the beneficiary of the Estate (Transferee), the opposite of your scenario above, Should I also assume that this transfer can't be lodged via PEXA as well? I followed your link for further information but it only takes me to a page on how to lodge a transmission application which Ive already done. Its the Transfer Im confused and I cant find any further information about it. Thank you.
@JennieS - Apologies, for the confusion the post above has been updated.
You can complete the Transfer of Land in PEXA, from the executor to the beneficiary as long as the executor is not already registered on title in another capacity or holds another interest.
Information for how to complete a standalone transfer, can be found here. You also might find this helpful, Acting for Multiple Parties in a Workspace.