Transmission Direct to Beneficiary (NSW) | Help Centre

Saysa · ‎04-07-2018

Overview

Jurisdiction: NSW

Additional Resources: Help Card

You can now lodge a Transmission Direct to Beneficiary in PEXA. A Transmission Direct to Beneficiary allows for a title to be directly transferred to a nominated beneficiary (without a Legal Representative Executor first obtaining ownership of the title).

In this instance, when a Sole Proprietor, a Tenant in Common, or all parties in a Joint Tenancy are deceased, and a beneficiary is nominated, you can lodge a Transmission Direct to Beneficiary to transfer ownership of the title from the deceased directly to the beneficiary. This is different from a Transmission Application where the title is first transmitted to a Legal Representative Executor before being transferred to a beneficiary.

The following information is required when lodging a Transmission Direct to Beneficiary:

Grantee Details (Executor, Executor by Representation, Administrator, or Trustee)
Details of Death
Evidence Details
Notice of Sale
Stamp Duty
Consent
Written permission from the Grantee
Financial Settlement

Steps

Create the Workspace with the following settings:
- Representative Role: Incoming Proprietor.
- Financial Settlement required?: Yes
- Will this transaction involve a Transfer?:
  - For a standalone application, select No
  - For an application lodged with a Transfer in the same Workspace, select Yes
  Complete the other fields as required.
Review the Land Title.
Create the Beneficiary Party:
1. Navigate to the Participants screen and then click Create Party.
2. For Party Capacity to be recorded on Title, select one of the following options:
  - Beneficiary
  - Devisee
  - Next of Kin
3. Complete the rest of the form as per normal.
Register the Proprietor(s) on Title as deceased:
1. On the Participant screen, select Action Cog > Edit Party next to the party to be registered as deceased.
2. For Representation, select The Proprietor is Deceased.
3. Add Details of Death:
  1. Click Add Details of Death.
  2. Enter the Date of death.
  3. Click Confirm.
4. Complete the rest of the form as per normal and then Save the changes.
Create a Transmission Direct to Beneficiary document:
1. Navigate to Documents > Create Document > Transmission Direct to Beneficiary.
  By default, the Applicant Details are pre-populated with the party you created in step 3.
2. For Tenancy, select the deceased tenant. Ensure that Details of Death has been added against the selected tenant.
3. Under Applicants, select the beneficiary and the desired tenancy structure.
4. Under Grantee Details, enter the name and party capacity.
5. Confirm that "Written consent to this Application has been obtained from the executor of the will/administrator of the estate/trustee of the estate of the deceased registered proprietor" by selecting Yes.
6. Add Evidence Details:
  1. Select the Evidence Type.
  2. Enter the reference number and date.
  3. Click Add Evidence to add additional evidence if required.
7. Save the document.
Edit the Notice of Sale:
1. On the Documents screen, select Action Cog > Edit next to Notice of Sale.
2. Complete the fields and then Save the changes.
  The document status for Notice of Sale should now be Prepared.
Enter Stamp Duty information:
1. On the Stamp Duty screen, click Enter Duty Information.
2. Type in the DAN reference number in the OSR reference number field and then Save the changes.
  The stamp duty is automatically verified, and the stamp duty verification result should return as Successful.
Create a Consent:
1. On the Documents screen, select Create Document > Consent.
2. Complete the fields and then Save the changes.
  Note: If there is a mortgage registered on title, you will need to invite them into the Workspace as Consentor to complete the Consent document. This is completed via the Participants screen.
Edit the Lodgement Instructions:
1. On the Documents screen, select Action Cog > Edit next to Lodgement Instructions.
2. Edit the fields and then Save the changes.
Complete the Financial Settlement Schedule:
1. Navigate to the Settlement screen.
2. Click the Adjustments & Payments tab to add in your Destination and Source line items.
3. For Source Funds, ensure you verify and authorise the funds.
4. Sign the Financial Settlement Schedule and all Documents.
  Note: Your Settlement Schedule must be balanced and your Workspace in a status of Ready for settlement to commence.

Related Topics

sharond1 · ‎08-05-2019

Is a Client Authorisation or Vertification of Identity required for the executor to consent to the transmission application or just written confirmation that they consent?

Saysa · ‎08-05-2019

Hi @sharond1 ,

Thanks for using PEXA. I just checked this for you and unfortunately PEXA can't advise on this as it's a Land Registry procedural matter, so we suggest that you contact the NSW LRS to confirm this.

sharond1 · ‎09-05-2019

NSW LRS has advised that the executor is a party to the transaction and therefore VOI and client authorisation is required.

JessRiddell · ‎18-05-2019

Hi there,

I am in desperate need of some help.

I need to lodge a transmission direct to beneficiary in NSW.

On the CT, there are two POT: one is the deceased person and the other is an executor of the estate of the wife who died previously.

Now the will/probate says that the whole property is to go to the beneficiary.

On the transmission DTB form, I can only tick the share of the deceased to go to the beneficiary.

Does this mean i have to make another PEXA workspace to act for the other POT and draft a transfer and consent from that workspace?

Please help! I'm pulling my hair out. I've tried to complete this transaction for 2 weeks now with no luck.

Thankyou :-)

JessRiddell · ‎20-05-2019

I've worked it out. I do need an extra transfer and i have to make sure that the transmission to beneficiary is done before the transfer, so PEXA picks up that the beneficiary is one of the transferor's in the transfer. Disaster averted :-)

makita09 · ‎04-07-2019

We act for an Executor and need to do several Transmissions direct to Beneficiaries. However, we do not act for the beneficiaries as they are legally represented separately. How do we setup the workspace??

sharond1 · ‎04-07-2019

Perhaps you have to invite the beneficiaries' legal representative to the workspace to act on their behalf? PEXA??

makita09 · ‎04-07-2019

Tried that but then i'm unsure of how we insert all details to actually control the transmission as we act for the executor and by rights need to monitor the transaction?

sharond1 · ‎04-07-2019

There are a couple of webinars coming up about transmissions. One is this afternoon and I think another tomorrow. I'm going to watch those and if I can help I'll let you know. Perhaps give PEXA hotline a call.

makita09 · ‎04-07-2019

Thanks. I spoke to Pexa when they were on their roadshow a few weeks ago (waiting to hear back from them) but just thought i'd put the question out on here to see if anyone had done a similar transaction.

nicholabaker · ‎09-07-2019

Hi @makita09

In a Transmission Direct to Beneficiary, the only participants in the Workspace are the Beneficiaries representatives and potentially the MOT/Consentor (if applicable).

In your current scenario, you cannot enter the Workspace in the role of Proprietor on Title (POT) to monitor the transaction or to play an active role as your client (the Executor) is not registered on title as no Transmission has been lodged.

Your options are:

Complete a Transmission to get your Executor on title and then complete a standard transfer; or
Provide the Executor's written consent to the Beneficiaries' representatives who will then complete the Transmission Direct to Beneficiary in PEXA and request confirmation of the transaction from the beneficiaries' reps once completed.

I hope that helps but let me know if you need anything else,

Nichola