PEXA QLD 101: Transfer as Trustee

[LaurenFraney]

To help those who need to prepare a workspace with an Incoming Proprietor who is purchasing “as Trustee”, here is an easy to follow guide:-

1. Create your workspace in the role of Incoming Proprietor (you can find out Transfer Help Card here);
2. In the Participants screen, only complete the details of the Trustee/s and do not insert the details of the Trust.
3. Create the Transfer in the documents screen and when you get to the question “Are any proprietor groups in this document acting as Trustee?”, select Yes:

4. Once you select Yes, you will be able to select which party/ies are acting “as Trustee” and then complete an electronic version of the Form 20 Trust Details Form:-

           For more information on completion Form 20 TDT, refer to the Land Titles Practice manual here.

5. Once stamping has been completed and the documents are in a “Prepared” status, you will be able to view the electronic Form 20 Trust Details Form, which immediately follows when you View Transfer in the Documents screen.

[helene]

Thanks @LaurenFraney great tip

[Morvanna]

Thanks so much Lauren.  This is a question regularly asked by our Members so great to have a guide to same.

[ReneeD]

I am trying to create a Transfer in a Qld PEXA Workspace where the three transferees are trustees.

There is no tenancy option for "as trustees" which is what is required on paper titles and as per the Land Titles Practice Manual.  There is also no option to record the dealing number where the trust documents have been deposited. As per the Land Titles Practice Manual, transfers without this detail get requisitioned.

I would appreciate advice on how PEXA deals with these issues in Transfers to Trustees.