PEXA - Providing our clients with immediate peace of mind.
Recently, we had clients attend one of our offices after returning from a vacation only to discover that their house had been burgled with their entire safe lifted and stolen.
Inside their safe were their most important items of documentation, including their passports and birth certificates. Also inside was their Certificate of Title to their house that they purchased through First State Conveyancing a few years earlier.
Our clients immediate concern was the risk of identity fraud and the title being varied without their knowledge. With their most important identification stole, together with their title documents to their most precious asset, our clients were susceptible to the possibility of teh property being sold without their knowledge.
Thankfully, with the wonders of modern technology, PEXA, the electronic conveyancing system allowed us to put our extremely concerned clients mind at immediate ease.
A Caveat was registered on the title electronically, then and there, in front of our clients, taking immediate effect. This Caveat prohibited any dealings from taking place in respect of the title until such time as the Caveat has been withdrawn or removed.
If our safe thieves had sufficient intellectual capabilities, they could have attempted to register a transfer of the title at the Sydney Land Titles Office and the property could have been transferred without our clients even knowing.
With the Caveat registered and in place, the title is now preserved. The owners will now, with our assistance, make application for a replacement Certificate of Title at the Land Titles Office.
Our clients can now rest easy, safe in the knowledge that their title will be reissued shortly and that they can not be victims of identity fraud.
This is a brilliant example of how PEXA can have immediate practical benefits both for our firm and of course our clients.