From Release 6.1 (22nd July), PEXA allows subscribers transacting in VIC to transfer control of their electronic CTs to other PEXA subscribers in a more efficient manner.
The Transfer of CT Control document enables Financial Institutions to give control of a title or titles to their Panel Lawyers. The same document can be used by the Panel Lawyer to pass CT control back to the Financial Institution following completion of a matter.
Solicitors and Conveyancers can also use the document to transfer control to other Solicitors or Conveyancers.
The number of titles in a CT Control workspace has been increased to 200 titles. This directly allows your work to be streamlined and titles to be transferred in a very efficient manner.
Furthermore, the process has been streamlined, whereby multiple steps, around Saving, Signing and Inviting have been combined.
Steps - Transfer of CT Control
Create a workspace in the role of CT Controller
Multiple titles can be added to the one workspace
Navigate to the Documents screen and select Create Document > Transfer of CT Control
Complete the details on the document screen including:
Land titles relevant to the transfer of CT Control;
The Subscriber you are passing CT control to.
Click Save and Sign (if you have signing permissions). If you don't have signing permissions, click Save and arrange for a signer to Sign the document.
On successful signing, an invitation is automatically sent to the Subscriber receiving the CT control.
You do not need to complete any further steps. Once the subscriber receiving CT control accepts the invitation, the documents are lodged automatically with the Land registry. Once lodged, the workspace will progress to a 'Completed' status and move to the 'Completed' view on your dashboard.
NOTE: If you select the wrong Subscriber, you can edit the document and select another party. This will withdraw the original Subscriber's invitation. The original Subscriber will get an email notification advising them that their invitation has been withdrawn. If, however, the original Subscriber has accepted the invitation already, then the Transfer of CT Control will have already lodged and they will be the new CT Controller. They will simply need to send control back by lodging a Transfer of CT Control.
Subscribers who are receiving CT control receive an invitation via the Invitations screen. The invitation to a Transfer of CT Control Workspace contains the land title references that are to be transferred. Please review the titles and accept the invitation. The acceptance of the invitation triggers lodgement of the document.
Automation and correct file structure examples
Steps and sample files for transferring a large number of titles in one workspace are located in the Automation article.
You may encounter the following errors when attempting to transfer control of an eCT in PEXA:
Error: Your organisation is not the CT Controller. The current CT Controller is ABC CONVEYANCING. Please check the land title reference and try again.
Issue and resolution: You have either entered the wrong land title reference, or the land title you were hoping to transfer the control of is actually held by someone else. You can not transfer eCT control if you are not the current CT Controller.
Error: The land title is currently in a paper format. Please check the land title reference and try again. If it is the correct reference, please contact the land registry to confirm.
Issue and resolution:You have either entered the wrong land title reference, or the land title you were hoping to transfer the control of is a paper CT. You can not transfer control of a paper CT. The land title must first be converted to an electronic CT.
Requesting CT Control ('Pull' Approach) - (due for Release 6.1.1)
From Release 6.1.1 (2nd September), PEXA will allow subscribers to request control of electronic CTs from other subscribers. A 'Pull' rather than a 'Push'. This will be restricted to Panel Lawyers requesting control from their Panel Masters.
Create a workspace in the role of CT Controller
Add land titles that belonging to your Panel Master
Complete a Transfer of CT Control document
Click Save and Send. This will send an invitation to the CT Controller of the land titles.
If you are the recipient of an invitation to a Transfer of CT Control Workspace (Pull scenario), you will see an invitation in the role of CT Controller and be shown the land titles that your Panel Lawyer is requesting control of. You will not be shown the warning that applies to the 'Push' scenario, as accepting an invitation in the 'Pull' scenario does not trigger lodgement.
After accepting the invitation, review the land titles include in the Transfer of CT Control document, sign and lodge the document.
Once the document is processed by the Land Registry, your Panel Lawyer will become the CT Controller of the included land titles.