A Title Activity Check (TAC) is an automated check between PEXA and your Land Registry for any activity on a Land Title in your Workspace. An activity is any registry activity for the title. This includes both Lodgement and Registration activities and includes all types of transactions including Notices, such as a conversion of a title from Paper to eCT.
For example, a caveat has been Lodged against the Land Title or the title is Nominated to a Lodgement Case.
When a Title Activity Check is executed, if there has been any activity on the Land Title, PEXA notifies the Workspace participants with a Positive TAC.
When a Land Title is added to a workspace, registry information is returned. This will include any activity noted on title in the preceding 60 day period prior to the title being added to the workspace.
PEXA runs automated Title Activity Checks. These are scheduled:
Note: Title activity checks will occur on business days and public holidays.
You can initiate a manual title activity check from the Land Titles screen of a Workspace at any time.
The automated Title Activity Check (TAC) schedules continue to run regardless of whether a manual TAC has been initiated by the user.
Manual TAC’s are not available in workspaces that do not include Financial Settlement and are created in the roles of:
Note: No fees are incurred for a manual Title Activity Check. For workspaces that are eligible, you are entitled to unlimited manual Title Activity Checks.
A negative response from the Land Registry indicates there has been no activity on the land title and displays as Negative in the title activity indicator. No further action is initiated.
A positive response indicates there has been activity on the land title since the last Title Activity Check. Positive displays in the title activity indicator and automatically generates a notification to the participants in the Workspace.
Note: Click View Details against the Last positive TAC to display additional TAC result information.
Automated title activity checks run one week before settlement, a day before settlement and in the hour before settlement. Workspaces that are Not Ready at the scheduled settlement time is automatically rescheduled by 30 minutes. PEXA will allow a Workspace to automatically reschedule up until 5:00 PM AEDT. Any Workspaces that remain Not Ready at 5:00 PM AEDT will have its settlement date and time removed and a new date and time will need to be proposed.
Due to the time-sensitive nature of the final activity check 55 minutes before settlement, a positive result indicating a change on title must be acknowledged by the incoming participants of the Workspace.
Title Activity Checks (TAC) Intervals
Note: To avoid any conflict with settlement batch runs, TAC checks are scheduled to run in 30-minute intervals starting at 8.35am.
In the event of a positive TAC 55 minutes before settlement:
Proceed with Settlement:
In the unlikely event that PEXA receives a technical error as a result of the title activity check, the error status is displayed to all participants of the workspace. Notifications are sent via email and displayed on the Workspace Summary screen.
Perform a Manual Title Activity Check
Participants can navigate to the Land Titles screen and run a manual title activity check. If successful, and results are returned confirming no change to the title, then settlement can proceed.
Accept to Proceed
If a manual check is either not performed or still returns a technical error, then Incoming parties must accept to proceed with settlement. If all required acknowledgements are not received, settlement is automatically pushed out by 30 minutes.
In WA, all checks for activity against a title, including the automated (Final TAC) check 1 hr prior to settlement, check for any activity on title, beginning from when the workspace was first created, minus 60 days, right up to the current time.
A positive TAC is displayed only for new activities on the land title that has not been previously returned. This ensures that incoming parties are not having to repeatedly provide approval for activities that were previously approved.
On the day of settlement, if a positive TAC is returned, the incoming parties will only need to ‘confirm settlement execution’ if a new title activity has been returned from the Land Registry for the first time. All subsequent TAC responses received for the same activity will be displayed as no activity against the Land Title. This behaviour now aligns with all other jurisdictions.