on 13-06-2019 01:19 PM
When creating a Priority Notice in a Transfer workspace the system automatically pulls across the Incoming Mortgagees details from the Participants. Those details may not always be correct. For example if St George is the Incoming Mortgagee this will pull into the Priority Notice but “Westpac Banking Corporation” is actually the Incoming Mortgagee that needs to be noted and you would therefore need to update prior to saving the document and lodging.
To assist you with this we have installed a WalkMe pop up when you add in the Incoming Mortgagee which reminds you to check the Incoming Mortgagee’s details are correct.
on 22-01-2020 12:03 PM
It is recommended that a Priority Notice is prepared by the solicitor for the incoming proprietor as applicant where there is no corresponding Workspace.
The incoming mortgagee details therefore need to be manually included. Solicitors for the incoming mortgagee generally request the inclusion of the ACN/ABN for a corporate entity, however, there is no option for this to be included and in fact, generates a warning if the ACN/ABN is included following the name of the entity. This can result in the solicitor for the incoming proprietor being unable to comply with the requirements for the incoming mortgagee. Apparently, there is no available solution to this scenario (ref: PEXA204096864), or is there?
on 24-01-2020 04:26 PM
Land Registry have outlined in their Guide to Completion - Priority Notice Form (on Page 17) that they do not want the ACN or ARBN should not be included after the name of the company. This is therefore why the warning appears. You may need to raise this with the Panel Solicitors to avoid having to insert same.