When an eCT exists, the CoRD Holder must consent to a transaction by lodging a CoRD Holder Consent electronically via PEXA. The Consent is the electronic equivalent of handing over possession of the paper CT at settlement. This provides assurance and protection to the incoming transferee and mortgagee that the only dealings that can be registered are those specified in the CoRD Holder Consent.
Follow the steps below to create the Consent document:
Create the Workspace as Consentor.
Select Documents from the left hand side navigation.
From the Create Document drop down menu, select Consent.
The NSW Consent Screen Displays
In Content type select Third Party Consent.
In the Document to which consenting party consents select External Instrument.
In the External Instrument section, click Add Document.
On the Add Document screen:
In the Has document to which consenting party consents been lodged? field, select No. Note: You would select ‘Yes’ if the paper instrument has already been lodged. You will be required to enter the Dealing Number of the paper instrument you are consenting to.
Add your Documents
In this scenario we will do the following:
In the Document Type field, select Discharge of Mortgage.
In Parties to instrument type "Whitsunday Island Bank" and click Confirm.
Continue to Add Documents for all the documents for all the documents which will be lodged for this transaction.
In theDocument Typefield, selectTransfer.
In Parties to instrument type "William Wakefield & Amanda Wakefield" and clickConfirm.
In the Document Type field, select Mortgage.
In Parties to instrument type "Ullaru Bank" and clickConfirm.
Your screen should look like this.
Click Add Title.
In the Title drop down select the correct title.
In the Cord evidence type select Named in CoRD Record in Land Title.
Edit the lodgement instructions. Note: Issuing Instructions are not required.