Scroll down to watch a demo video.
To mitigate issues with a Land Registry being unavailable PEXA has introduced functionality to perform a Secondary Lodgement Verification on each Document in the Lodgement Case. Once PEXA determines that communications can not be established with the Land Registry, this feature allows a Lodgement Case to progress to ‘Ready’ where:
Note: This feature only applies to workspaces with financial settlement
This feature is available in SA, WA, QLD, NSW, & VIC.
Important - for this solution to work:
What happens next?
If the Land Registry’s systems are still unavailable at the time of Lodgement, PEXA will invoke Lodgement Override and proceed with settlement. Lodgement will continually be re-attempted until such time that the Land Registry’s systems are available.
Where the Secondary Lodgement Verification has been successful, the Document Status will be updated to show that settlement is proceeding based on ‘Secondary Lodgement Verification’.
When the Financial Settlement Schedule also reaches ‘Ready’ status, then the Workspace’s status will be ‘Ready/Ready’ and settlement will initiate once the Workspace reaches its scheduled Settlement Date and Time. If the Land Registry’s systems are still unavailable at the time of Lodgement, PEXA will invoke Lodgement Override and proceed with settlement. Lodgement will continually be re-attempted until such time that the Land Registry’s systems are available once again.
Where the Secondary Lodgement Verification has been successful, a banner is displayed to indicate that a Secondary Lodgement Verification has been performed:
When a document is expanded, an informational message is also provided to indicate that a Secondary Lodgement Verification has been performed:
When could Land Registry unavailability affect my ability to settle?
PEXA cannot solve this issue for cases where the documents are not prepared before the day of settlement, as they would not have had successful Lodgement Verification. In order to give yourself the best chance to settle on the due date, even where the Land Registry is unavailable, your Lodgement Case must be prepared before the day of settlement and have had a successful Lodgement Verification.
Other items to note:
For VIC Workspaces only:
In addition to the points above, the following conditions will also need to be met in order for your Lodgement Case to progress to Ready:
PEXA will continue to improve this feature for Victorian Workspaces to allow more Workspaces to progress to Ready in future releases.
You must be a registered user to add a comment here. If you've already registered, please log in. If you haven't registered yet, please register and log in.