Priority Notice | Help Centre

[Saysa]

Overview

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A Priority Notice may be lodged in VIC, NSW and QLD to protect the interest of either an Incoming Proprietor or Incoming Mortgagee in either a PEXA or paper transaction and assist with fraud prevention. A Priority Notice reserves priority on a title in real time and will allow only dealings that have been specified in the lodged Priority Notice to be registered. If a title search is completed, the Priority Notice will alert that an imminent transaction has been reserved. Some dealings may continue to be lodged with a Priority Notice in place, ensure to check the legislation in your jurisdiction:

• Real Property Act 1990 (NSW)
• Transfer of Land ACT 1958 (VIC)
• Land Act 1994 (QLD)

When lodged, the Priority Notice will be applied to the title for 60 days and may be extended by an extra 30 days, therefore protecting the interest in the property for up to 90 days. A Priority Notice will be lifted off a title at either:

• The expiration date,
• Where a Withdrawal of Priority Notice is lodged
• When the transaction as stipulated in the Priority Notice has been lodged.

It is important to note that only the party who has lodged the Priority Notice will have authority to extend or withdraw the Priority Notice. Extending or withdrawing a Priority Notice can only be performed from the same Workspace the Priority was lodged in.

Who can lodge?

A Priority Notice may be lodged in the roles of:

Applicant:

• Used by any party type to register a Standalone Priority Notice for a dealing that will be completed in paper.
• Can be extended or withdrawn.

Incoming Proprietor:

• Used by a Purchaser/Buyer to register a Priority Notice for a dealing that will be completed in PEXA.
• Can only be extended or withdrawn prior to execution of settlement date and time in the Workspace.
• Cannot be used to lodge a Standalone Priority Notice. The Workspace must have a Settlement Date and Time and be used to lodge a PEXA Transfer.

Incoming Mortgagee:

• Used by a Mortgagee to register a Priority Notice for a dealing that will be completed in PEXA.
• The Workspace must have a Financial Settlement Date and Time.
• Can only be extended or withdrawn prior to execution of settlement date and time in the Workspace.

Where a Priority Notice is prepared in the role of Incoming Proprietor or Incoming Mortgagee, PEXA will use the information that has been returned from the Land Registry as well as data from the Participant and Document screen to pre-populate information into the Priority Notice. The Priority Notice can be viewed by all participants in the Workspace. Extension of Priority Notice and Withdrawal of Priority Notice documents are excluded from View by all other Participants.

If.....	The Priority Notice will pre-populate with....
Caveat is registered on Title	Withdrawal of Caveat for each Caveat
Mortgage is registered on Title	Withdrawal of Mortgage for each Mortgage
Transfer document has been created	Transfer for each Transfer document created with Transferees correctly names as party to the instrument
Incoming Parties have been represented but no Transfer has been created	Transfer with each Transferee named as a party to the instrument
Mortgage document has been created	Mortgage for each Transfer document created with Mortgagees correctly names as party to the instrument
Mortgagee parties have been represented but no Mortgage has been created	Mortgage with each Mortgagee named as a party to the instrument

Steps

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In this section:

• Create a Priority Notice
• Extend a Priority Notice
• Withdraw a Priority Notice
• View and Print a Priority Notice / Extension / Withdrawal

Create a Priority Notice

1. Proceed to the Documents screen and select Create Document.
   • For Workspaces created in the role of Applicant, the Priority Notice document will open automatically.
   • For all other roles, select Priority Notice.
2. Confirm the Applicant’s details are correct.
3. From the Documents to be Lodged section:
   • Select Add Document to add instruments that will be lodged as part of the imminent transaction.
   • For Priority Notice created in the role of Incoming Proprietor or Incoming Mortgagee, confirm the documents that have automatically displayed are correct, and select Add Documents to add any further instruments.
   Tip: Ensure the order of lodgement is correct by selecting the arrows from the Sort Order column or drag and drop the documents into the correct order of lodgement.
4. Select Save.
   Tip: Ensure to sign and submit the Priority Notice for Lodgement.

Extend a Priority Notice

Extension of Priority Notice can occur any time prior to the expiration date of the Priority Notice (within the 60 days).

Extension of Priority notice can only be completed via the Workspace where the Priority Notice was created and only by the Participant who created the Priority Notice.

Where a Priority Notice has been lodged in a Workspace with other documents, an Extension of Priority Notice can only be lodged where the Workspace Settlement has not executed.

1. Locate and enter the Priority Notice Workspace using either:
   • Search functionality
   • Active Dashboard (where lodged with other PEXA documents)
   • Completed Dashboard (where lodged in the role of Applicant)
2. Proceed to the Documents screen, select Action Cog > Extend Priority Notice next to the Priority Notice.
   The Extension of Priority Notice is automatically created. This will extend the Priority notice validation period by 30 days.
   Tip: Ensure to sign and submit the Extension of Priority Notice for lodgement.

Withdraw a Priority Notice

Withdrawal of Priority Notice can occur any time prior to the expiration date of the Priority Notice (within the 60 days).

Withdrawal of Priority Notice can only be completed via the Workspace where the Priority Notice was created and only by the participant who created the Priority Notice.

Where a Priority Notice has been lodged in a Workspace with other documents, a Withdrawal of Priority Notice can only be lodged where the Workspace Settlement has not executed.

1. Locate and enter the Priority Notice Workspace using either:
   • Search functionality
   • Active Dashboard (where lodged with other PEXA documents)
   • Completed Dashboard (where lodged in the role of Applicant)
2. Proceed to the Documents screen, select Action Cog > Withdraw Priority Notice next to the Priority Notice.
   If the Workspace has a Financial Settlement you will be asked Would you like to lodge this Withdrawal of Priority Notice as part of Financial Settlement?
   • Selecting Yes assigns the Withdrawal of Priority Notice as the first instrument in the Registry Lodgement case
   • Selecting No assigns the Withdrawal of Priority Notice to its own Lodgement Case where you will be required to sign and lodge the Withdrawal of Priority Notice prior Financial Settlement of the Workspace.
   The Withdrawal of Priority Notice is automatically created.
   Tip: Ensure to sign and submit the Withdrawal of Priority Notice for lodgement.

 
View and print Priority Notice / Extension / Withdrawal

1. Select the View button or Action Cog and View for either the Priority Notice, Extension, or Withdrawal, to view the rendered document.
2. To print a rendered copy of the document:
   1. Right click (where there is no text).
   2. Select Print.
   3. From the destination menu, select Save as PDF and Save.
   4. Select file location and click Save.
      The document can then be printed from your file location.

[hparklegal]

How do you lodge a stand alone Priority Notice to protect a client's interests for a lost CT while the CT replacement documents are being put together?