Transmission Direct to Beneficiary (NSW) | Help Centre

[Saysa]

Last updated: 11 October 2021
Jurisdiction: NSW
Additional Resources: Help Card

 

Overview

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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
• Written permission from the Grantee
• Financial Settlement

Steps

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1. Create the Workspace with the following settings:
   • Jurisdiction: NSW
   • Transaction Type: Transmission Direct to Beneficiary
   • 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.

2. Review the Land Title.
3. 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.
4. Register the Proprietor(s) on Title as deceased:
   
   1. On the Participant screen, 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.
5. 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.
6. Edit the Notice of Sale:
   1. On the Documents screen, select Edit from the Actions column 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.
7. 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.
8. Edit the Lodgement Instructions:
   1. On the Documents screen, Edit next to Lodgement Instructions.
   2. Edit the fields and then Save the changes.
9. Sign the Documents
   1. From the Actions column select Sign, ensure the Lodgement Instructions, Transmission Direct to Beneficiary is successfully signed.
10. 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

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• Transmission Application (NSW)
• Transmission Application (SA)
• Transmission Application (VIC)