Please note: The Notice of Acquisition needs to be printed from PEXA and sent to local council and the water authority once settlement has occurred.
A Notice of Acquisition (NOA) Document is a Land Registry document specific to the jurisdiction of Victoria that supports the lodgement of a Transfer document. The NoA is used to inform the Land Registry (LR) of details of the purchase of land and is also primarily used by the State Revenue Office (SRO) to update its records and levy any land tax due.
The NOA document is also used by councils, water supply authorities and other relevant rating authorities as a notification of changes in ownership of a property. In order to accurately notify the relevant authorities, please print the NOA document and distribute outside of PEXA using the standard manual process.
Given that the NOA document is a supporting document, it must always be lodged with a Transfer in the Jurisdiction of Victoria. There must only be one NOA document for each Transfer document created in the Workspace. A NOA document will be automatically generated when the Transfer is created in the Workspace, and will subsequently be pre-populated with relevant Workspace data derived from the Transfer Document.
The NOA document contains information associated with the property, Transferor and Transferee details and transaction details. When the user updates the NOA document, most of the information will be prepopulated with Workspace data provided as part of the relevant users creating the Transfer of Land Document.
Responsibilities In PEXA, Subscribers representing a party in the roles of Incoming Proprietor and Proprietor on Title, must process the NOA document. It must always be lodged with a Transfer in the Jurisdiction of Victoria.
Note: There must be one Notice of Acquistion document for each Transfer document created in the Workspace.
You have created a Transfer document. A NoA document is automatically generated for you when the Transfer is created in the Workspace. The NoA document is pre-populated with relevant workspace data derived from the Transfer document.
You are in the role of Incoming Proprietor or Proprietor on Title.
On the Documents screen, select the Notice of Acquisition document and select Edit. The Notice of Acquisition Screen will pre-populate based on the jurisdiction, parties, land titles and transfer details included the Workspace.
Complete the Property Details, including:
Nature of Property Note: The Notice of Acquisition may include multiple Properties based on multiple land titles included in the Transfer document.
Transferor and Transferee Details Complete as much information as possible, including Municipality details, to ensure details can be transferred to the relevant authority.
Identify the Transferor details.
Ensure that the Transferee is correctly identified and their principle place of residence is correctly identified.
Complete the Total sale price and Deposit paid in AUD.
In the Is this Purchase a Terms of Sale? field select Yes if there are terms of sale details attached to the acquisition of the property.
In the Is there a written contract of sale for this property? field select Yes if there is a contract of sale.
Complete the Date of possession/ transfer. This is the date of settlement or when possession of the property occurs.
Complete a Customer Reference ID to help identify this Notice of Sale document at a later date.
Click Save to save the Notice of Acquisition document.
The updated Notice of Acquisition is saved and progresses to the status of Prepared.
Status The Notice of Acquisition document is progressed through a number of stages:
In Preparation: The document has been created but has not been successfully edited.
Prepared: All documents are created and are waiting to be signed.
Ready: All documents have been signed and lodgement verification is successful.
The Notice of Acquisition must be printed from PEXA and sent to local council and the water authority once settlement has occurred.