PEXA tracks the overall status of workspaces using the Lodgement and Settlement bars across the top of the workspace. Below is a list of the possible status values in a workspace:
Workspace has been created and documents are in preparation
Practitioners have commenced preparing the Financial Settlement Schedule
Documents have been prepared and are ready to be signed. Stamp Duty verification is successful
The Financial Settlement Schedule has been signed
All documents have been digitally signed by the required parties and lodgement verification is successful
All aspects of the financial settlement are ready (funds verified, authorised and FSS items signed off)
Document is in the process of lodging with the Land Registry
Funds are reserved for the transaction
The Land Registry has accepted the documents for lodgement
Funds have been moved at the reserve bank level. Technically the property has settled
The Land registry has completed their examination of the documents and assigned a status
Funds are disbursing to their respective accounts
Funds have reached their destination financial institutions.
The lodgement "complete" status is one that practitioners can find confusing. We normally equate “complete” with dealings being “registered” or clients being “on title”. However, the complete status means the Land Registry has completed their examination of dealings. In fact, the Complete status could mean a variety of things, depending on your jurisdiction.
“Registered, Rejected, Requisitioned, Unregistered, Unnecessary” are some of the available values in NSW. A full list of values available in each jurisdiction can be found below.
Practitioners should always check each dealing in the documents screen to ensure they have registered (where applicable). If in doubt, contact your Land Registry to discuss the details of your matter.
Please confirm your Land Registry Contact Details for your firm's PEXA subscription are up to date. This can be checked by your Subscriber Manager in the PEXA platform.