With Partial Tenancy & Family Law Transfers having been introduced to Queensland in May 2021, I’m now pleased to share that together with the Queensland QRO and Titles Queensland, we’re expanding the functionality to include the following new enhancements:
- Partial Tenancy & Family Law Transfers can now be combined with common documents such as the Release of Mortgage, National Mortgage, as well as in combination with multiple transfers and/or other Partial Tenancy Transfers.
- You can now transact where the trustees are on title as Sole Proprietor (Individuals and Organisations) or as Joint Tenants (Individual only).
- The ‘Evidence of Charitable Trust’ & ‘Evidence of Ministerial Consent’ supporting documentation are able to be uploaded in the role of Proprietor on Title.
- Transfers are now able to be lodged in combination with Transmission Application (for Sole Proprietors only).
We’ve tested these features extensively together with industry and we’re excited for you to try them out. Check out our help cards and FAQs below to help you get started.
1. What additional consideration types can be completed on PEXA?
PEXA has expanded the consideration type category to include the below:
- Agreement under the part VIIIAB Family Law Act
- Assumption of Liability under Mortgage
- Death and Appointment of a Trustee
- Discharge and Appointment of a Trustee
- Financial Agreement under the part VIIIA of the Family Law Act 1975
- Pursuant to a Clause in the Trust Deed
- Pursuant to a Family Law Act order
- Pursuant to the Rules of Intestacy
- Pursuant to the Terms of a Will
- Retirement and Appointment of a Trustee
- Severance of Joint Tenancy Pursuant to S59 of Land Title Act
2. What is the lodgement fee for a Partial Tenancy Transfer?
Please refer to our Pricing Schedule for up-to-date pricing.
3. How can I access the OSR support resources for Partial Tenancy & Family Law Transfers?
QRO support resources can be accessed here:
4. What do I do with supporting documentation such as Certified Court Orders?
The Subscriber should retain supporting evidence in accordance with the Prescribed Requirements and Rules 6.6 of the Participation Rules (Queensland). The Business Rules outline that this evidence does not need to be deposited when settling via PEXA.
5. There is a mortgage on title and the parties have consent of the mortgagee, can I do a PTT in PEXA without releasing the mortgage?
Transferring the property with a PTT subject to mortgage can be facilitated by PEXA and in order to satisfy Titles Queensland, please refer practitioners to Section 63 of the Land Title Act 1994 (the Act) which provides for the transfer of a mortgaged lot. It is recommended Subscribers consider the application of this section of the Act when conducting transfers where a mortgage is not being released prior to the transfer of the lot.
6. Out-of-scope Partial Tenancy & Family Law Transfers:
Members please note that the below scenarios are presently out-of-scope for Part Tenancy & Family Law Transfers.
- Proprietor(s) on Title, who are staying on title and changing Shares or Tenancy Type, who are Australian citizens not residing in Australia (expected go-live 2022)
- Proprietor(s) on Title who are Foreign Persons or Foreign Organisations (expected go-live 2022)
6. What types of transactions can I complete on PEXA?
For a full list of transactions that be completed on PEXA, click here.
As always if you need support, reach out to your PEXA representative – we’re here to help.
