on 04-11-2017 12:34 AM
This week I had an issue with a duty that wouldn’t verify. The buyer was a company buying as trustee of a Trust. The seller was also selling as a Company and trustee of a Trust. In ROL I didn’t note the seller as trustee because it wasnt noted on the contract and the sellers conveyancer had loaded the seller in PEXA as a trustee, so OSR wouldn’t verify until they both matched. Solution is you need to check with the sellers agent if the seller is a trustee and get the details to load that into ROL or remove the sellers trust details from PEXA.
on 14-11-2017 01:11 AM
Great tip thanks Lyn !
We also often see the duty not verifying for the following reasons:
(1) DOB for sellers is missing from the workspace - If you check the participants screen and the sellers have a blue "i" next to their name, you can send a conversation to the sellers agent asking them to complete this information asap. It is important to note, you will not get an error message in your transfer duty screen in this instance.
(2) Incorrect Tenancy for Seller - You will need to ensure the tenancy of the sellers is correct as ROL defaults to tenants in common unless changed otherwise. As the workspace attempts to verify with ROL, it will be looking to match the information pulled through from Landgate (can be found via the Land Titles tab). The error message in PEXA will indicate there is an issue with the share fractions for the Transferor and ROL will need to be updated in this instance to reflect the correct tenancy of the sellers. Once the new ROL certificate details are entered, the workspace will again verify the duty.
(3) Entering the No Double Duty certificate number into PEXA - The workspace will verify using only the first certificate printed as it recognises that the duty has been paid on this certificate. Note, an NDD certificate is not required for an electronic transaction. Some members continue to print NDD's just in case the transaction needs to revert to paper.
15-11-2017 08:41 PM - edited 15-11-2017 08:42 PM
Hi Lynn / Fiona
We had a case today where (we acted for buyer) and seller had triple barrelled surname e.g."Jessie James VAN DE KLOP"
Landgate had proprietor on Title as "Jessie James Van DE KLOP" (this was imported to PEXA)
Duty would not verify as seller details mismatched in Landgate/ROL
Amended sellers name in PEXA to "Jessie James VAN DE KLOP" (to match ROL)
Duty would not verify as seller details mismatched in Landgate/PEXA
PEXA requested we change sellers details in PEXA & ROL to match registry "Jessie James Van DE KLOP" - I advised I would not do so as ROL would then be wrong (and 2 wrongs don't make a right)
PEXA had to arrange for Landgate to change registry to proceed.
Takeway & Tip = Verify Duty at least 3 days prior to settlement just in case!
07-12-2017 07:57 PM - edited 08-12-2017 02:01 PM
@FionaR apparently another one is where one of the parties is a Religious organisation- which has an ABN, but not ACN.
Since PEXA only allow ARBN (9 digits) long but ABN is 11 digits long.
IN ROL You need to select the 'Name Type' of 'association' with the 11 digit ABN.
IN PEXA the Organisation Type need to be "Commonwealth government or Body" with the 11 digit ABN.