This article presumes a general understanding of PEXA Workspaces, roles, and how to navigate in PEXA. If you do not have this background knowledge, we recommend you step through the PEXA Certified content available in the Community Transacting in PEXA
This article will give you a general overview of how to complete a transfer when there are two or more proprietors on title and one proprietor is being taken off the title and at least one remaining on title. A common example of this, is the family law scenario, where both husband and wife are proprietors of a property and one party is transferring their interest to the other pursuant to a property settlement.
Please note, you should contact your Land Registry and Office of State Revenue for questions around specific scenarios.
For more information on the scope of eligible documents for paperless conveyancing in WA, see this document.
Margaret and Maxwell Black are Joint Tenants of 271 Ocean View Lane, Broome WA.
A condition of their family law property settlement is that Maxwell transfers his interest in the property to Margaret. Margaret and Maxwell have authorised you to represent both of them in this transaction.
The following steps are for the above scenario.
Create the Workspace with the following settings:
Representative Role: Proprietor on Title.
Financial Settlement required?: Yes.
IMPORTANT: Even in scenarios where there is no monetary consideration, there still needs to be a financial settlement in PEXA for a related party transfer to account for Lodgement Fees, PEXA Fees, Duty and any other items, like your professional fees.
Will this transaction involve a Transfer?: Yes.
Review the Land Titles screen:
Ensure you have entered in the correct land title reference.
Ensure the tenancy type is correct.
Invite and/or represent the parties in the Workspace:
Navigate to the Participants screen.
Do any of the below that is applicable to you:
If you represent the Proprietor on Title:
From the Actions column, select Edit Party next to the Proprietor on Title whom you represent.
Leave I represent this party selected.
Complete the party details.
Save the changes. Repeat these steps for all parties you represent.
Stamp/Transfer duty must be eligible for self-assessment in the online duties system in order for the transfer to settle electronically. Check with your State Revenue Office for eligibility criteria.
Once your documents have gone through Lodgement Verification the PEXA Fees, (one for each role) and Land Registry Lodgement Fees will populate as Destination line items in the Financial Settlement Schedule.
Note: In WA, if the title is unencumbered and your hold a paper title, edit the lodgement instructions and complete the Duplicate Holding Details.