PEXA is pleased to present PEXA Maintenance Release 13.1.1, scheduled for business go live 15 March 2021.
UPDATE: There is no expected outage during the rollout of this release.
Key Highlights
Other Highlights
If you’re a Financial Institution or panel solicitor (in the role of the Mortgagee on Title only) with the Enhanced Settlement Summary (ESS) enabled, you now have the ability to specify if you are handling surplus or not.
By indicating this in the Subscriber settings, it helps communicate to other Workspace Participants if you handle vendor surplus.
Learn more about the ESS.
(Referencing PEXA AXL-1549)
We recognise that the Enhanced Settlement Summary (ESS) isn’t applicable for all PEXA transactions (like those with transfers between related parties, family law transactions, estate transfer, transmission to beneficiary or part tenancy transfers). That’s why we’ve added an option that lets you indicate whether or not the transaction is a sale or purchase.
By default, members with the Enhanced Settlement Summary (ESS) enabled will have their Workspaces set to Yes. This means the ESS calculations are enabled. See link below for details.
If your transaction does not require the calculations in the ESS then go to Workspace Settings > Transaction Settings, then select No to “Is this transaction a sale or purchase”. The ESS will revert back to where the Incoming Proprietor has to manually calculate and enter the Total Funds Required to Settle (TFRS) amount into the Workspace.
Learn more about the ESS.
(Referencing PEXA AXL-2232)
From this release, Practitioners will notice that the Adjustments and Payments tab is now the default view on the Financial Settlement Summary screen. We’ve also taken on your feedback and moved the most important information to the top, so that’s less scrolling for you.
If the Adjustments and Payments view is not for you, let your Subscriber Manager know and they can switch you back to the Destinations view.
Learn more about Adjustments and Payments.
(Referencing PEXA AXL-2278)
UPDATE: Due to some issues identified, the rollout of this feature has been postponed to R14.0.0.
(Referencing PEXA AXL-2232)
We've streamlined the experience for our members by allowing Incoming Proprietors to invite their clients to PEXA Key by selecting Source Account > PEXA Account when creating a source line item.
Note: The invitation is available only if A PEXA Key invitation has not been previously sent, and if there are multiple clients in the same Workspace, then you only need to invite one client.
Learn more about Source funds.
(Referencing PEXA FS-8135)
We are introducing a new destination line item category for payments made to the Queensland OSR. PEXA members will be able to select the category “QLD Land Tax” in the role of Incoming Proprietor, which means that the category of ‘Other (BPAY)’ is no longer required for this purpose, improving visibility across Incoming Proprietor and Proprietor on Title roles.
Learn more about Destination funds.
(Referencing PEXA SETT-10997)
Proprietors on Title who are set up as a Frequently Represented Party (FRP) can now be added as a trustee. Their trust name will be shown as the ‘party capacity’ across documents in PEXA Exchange and PEXA Projects.
Remember: FRP representation occurs when the Workspace is created, not when creating or editing a frequently represented party.
Learn how to set up Frequently Represented Parties.
(Referencing PEXA LCH-1183)
You’ll now be able to see which role each Workspace participant is in before they’ve represented a party. This will give you better visibility of who is doing what in your Workspaces.
(Referencing PEXA LS4-7655)
PEXA will release the third batch of Residual Documents for SA. The new dealings are listed below:
Learn more about Residual documents.
See the full list of Residual documents.
(Referencing PEXA LS1-7572)
We’ve aligned the "Replace Lost or Destroyed Certificate of Title" instrument with the Land VIC Guide to Residual Documents to allow for entry of optional additional information.
(Referencing PEXA FS-8560)
When editing the lodgement instructions where there is a residual document (in conjunction with other documents), you’ll notice a new notification banner reminding you to check the lodgement order. Ensuring that documents are lodged in the correct sequence minimises lodgement errors.
(Referencing PEXA)
When entering an address on the Land Title screen, if you’ve entered a Unit Number or Lot Number then the Road Number field is no longer mandatory.
(Referencing PEXA FS-8560)
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