In Victoria, it is common for a Nomination and/or Withdrawal of Nomination to be lodged on settlement day or the day prior to settlement. As a result, the title activity check (TAC) on the day of settlement is returned as positive and all incoming parties (incoming proprietor, incoming caveator and incoming mortgagee) need to 'confirm settlement execution' beforesettlementcan proceed. In many cases, the result is a delay to settlement.
In R9.0.1, we have updated the TAC to ignore known activity for nominations and withdrawal of nominations lodged from within the current workspace. TAC will return as positive for activity that is:
Lodged from the current Workspace, except for Nominations or Withdrawal of Nominations
Lodged from another workspace in PEXA
Not lodged through PEXA
E.g.1. TAC on the day of settlement returns activity related to a caveat that has been lodged ontitle. Result: PEXA will notify the participants in the Workspace and incoming subscribers will be required to ‘confirm settlement execution’.
E.g.2. TAC on the day of settlement returns activity related to a nomination which was lodged from the current Workspace. Result: PEXA will not notify the participants in the Workspace and incoming subscribers will not be required to ‘confirm settlement execution’.
PEXA now supports lodgement of Leases in New South Wales. A Lease in PEXA enables the representatives of the Landlord (Lessor) and the Tenant (Lessee) to prepare, sign and lodgea NSWLease over Whole or Part of the Land in a Title.
A Lease may be lodged in the following scenarios:
In combination with a Transfer of Land.
In a series with other Leases (i.e. consecutive leases).
A Lease document has a mandatory attachment type of Conditions and Provisions, which requires a subscriber to upload and attach one of the following file types to their Lease:
Note: Sub-Lease, Surrenders of Lease and Variations of Lease are not yet available in PEXA. This is to be confirmed with the Land Registry).
PEXA is excited to introduce a new, simplified landing page experience for members. The current landing experience directs you to the Dashboard, which displays a complex table of all active workspaces. While comprehensive, this can make it difficult for members to focus on high-priority Workspaces. The new landing page is designed to cut down the noise and help you see recent Workspaces at a glance.
After you log into PEXA, you will see your six most recently-viewed Workspaces arranged as clickable cards. Other enhancements include:
Workspace status is colour-coded to help with prioritisation
Layout is mobile-friendly and fully responsive
The entire Workspace 'card' is now a link that can be clicked or tapped
You will still be able to view Active workspaces and all of the other dashboards from the left navigation menu, where they are displayed in their original table format. Although the Dashboard will no longer act as the default landing page, it is still accessible via the left navigation menu.