What can I do in PEXA?

Digital services providing improved process efficiency and enhanced user experience are becoming the norm in modern society.

Completing conveyancing transactions and lodgements online through PEXA will help you streamline your business, drive greater client satisfaction and reduce the margin for error that could delay settlement.

On this page, you’ll learn which Land Registry documents are currently available to be completed electronically through PEXA in each state. The majority of property transactions that you are likely to perform in your conveyancing practice are already available. These include:

• Transfers
• Mortgages and discharge of mortgages
• Caveats and withdrawal of caveats
• Encumbrances and discharge of encumbrances (SA)
• Priority notices
• Transmissions and Survivorships (VIC)
• Financial settlement

The below table outlines what is already available across Victoria, New South Wales, Queensland, Western Australia and South Australia. 

- Transfers

On this page, you’ll learn which States allow Transfers to be completed electronically through PEXA.

Learn How to do a transfer in PEXA for your State

• A transfer does not include Transmission or Survivorship applications (except for Victoria), mortgagees exercising power of sale, transfer of mortgage, or transfer for sale of rates etc
• Supporting documents include Notice of Acquisition, Notice of Sale, Form 24A, Form 24B and Form 25.
• Transfer must include all of the land described in a title.
• All registered proprietors must be named as transferors.
• All titles included in the transfer must have the same transferors.
• Name of transferor must be the same or justified to be the same as the registered proprietor.
• Transfer must have one consideration type. 
  • Consideration type refers to the type of consideration to be expressed in the transfer. Example 'Consideration Types' include: monetary, gift, change in manner of holding. 
• The jurisdictional 'Online Duties' system (or equivalent) must be used to assess the stamp duty to be paid on the transfer. The Revenue Office transaction criteria can be found here:
  • VIC 
  • NSW 
  • QLD 
  • WA 
  • SA 

Victoria

• Transfer must not be a T2 transfer.
  Note: A PEXA transfer allows for a Covenant that has been registered with Land Victoria as an MCP to be referenced in the Transfer document).
• Transfer must not be a T3 transfer.
• Transfer must not include a Transferor who is also stated as a Transferee where stamp duty is applicable (i.e. monetary transfers where an existing proprietor on title is remaining on title are currently out of scope).

Queensland

• Transfer must have a Consideration Type of Monetary Consideration and must be for Residential Land (or land on which a residence is to be constructed) where the purchase was initiated by a Contract of Sale.

Western Australia

• Transfer must have a consideration type that is one of the following: ‘Monetary’, ‘Desire to make a gift’ or ‘Natural Love and Affection’.
• Transfer must be pursuant to a contract of sale or a written agreement. 

South Australia

• A RevNet user must create an eConveyancing Batch in RevNet. This type of batch can only have individual conveyance of land documents or related Section 67 documents.
• Transfers may be monetary, non-monetary or related parties

- Caveats

On this page, you’ll learn which States allow you to complete Caveats electronically through PEXA. 

Learn How to create a Caveat 

• Caveat must affect all of the land in a title.
• All caveators named in the caveat must be represented by the same Subscriber.

Western Australia

• All registered proprietors must be affected by the caveat.

• A withdrawal of caveat must not include a removal of caveat by a party that is not a caveator.
• Withdrawal of caveat must withdraw the caveat from all of the land in a title.
• All caveators named in the withdrawal of caveat must be represented by the same Subscriber.
• Name of caveator represented must be the same or justified to be the same as the caveator on title.

- Mortgage

On this page, you’ll learn which States allow you to complete Mortgages electronically through PEXA.

• Mortgage must be over all of the land in a title.
• All registered proprietors must be mortgagors.
• All titles included in the mortgage must have the same registered proprietors.
• All mortgagees named in the mortgage must be represented by the same Subscriber.

Victoria:

• Name of mortgagor must be the same or justified to be the same as the registered proprietor.

• Discharge of mortgage must discharge the whole mortgage from all of the land in a title.
• Discharge of mortgage must discharge all of the mortgagees in the mortgage.
• All mortgagees named in the discharge of mortgage must be represented by the same Subscriber.
• Name of mortgagee represented must be the same or justified to be the same as the mortgagee on title. 

- Consent and Nomination

On this page, you’ll learn which States allow Consents and Nominations to be lodged electronically through PEXA.

VIC

• Nomination type must be one of ‘Convert pCT to eCT and nominate to a PEXA lodgement case’, ‘Nominate an eCT to a lodgement case’ or ‘Nominate an eCT to a paper instrument’.

NSW

• Consent type must be one of ‘Transacting Party Consent’, Third Party Consent’ or ‘Conversion to NO-CT’.
• Subscriber must be the CoRD Holder or the CoRD Holder’s representative.

Note: The Subscriber withdrawing must be CT Controller.

- Consent and Nomination

On this page, you’ll learn which States allow Consents and Nominations to be lodged electronically through PEXA.

VIC

• Nomination type must be one of ‘Convert pCT to eCT and nominate to a PEXA lodgement case’, ‘Nominate an eCT to a lodgement case’ or ‘Nominate an eCT to a paper instrument’.

NSW

• Consent type must be one of ‘Transacting Party Consent’, Third Party Consent’ or ‘Conversion to NO-CT’.
• Subscriber must be the CoRD Holder or the CoRD Holder’s representative.

Note: The Subscriber withdrawing must be CT Controller.

- Financial Settlement

On this page, you’ll learn which States you can complete Financial Settlements electronically through PEXA. 

• Disbursement of funds can be made to any Australian bank account as part of a refinance or transfer.
• Source funding can be provided from a practitioner's trust account, if the trust account is held at a financial institution that can accept payment instructions from PEXA and has been registered in the Subscriber Profile of the practitioner.
• Source funding for purchasers can also be provided from the PEXA Source Account.
• Linked sequential settlements (up to a maximum of 3 linked workspaces) are supported. For example, where a proprietor is selling their property (in a preceding PEXA workspace), and is using part or all of the surplus funds for a subsequent property purchase (trailing PEXA workspace). The preceding Workspace must successfully complete settlement before the trailing Workspace can occur. Each Financial Settlement must be at least one hour apart and scheduled on the same day.
• Linked sequential lodgements are available where up to 3 Workspaces can be linked
• Linked simultaneous settlements are available where up to 10 Workspaces can be linked
• Linked simultaneous lodgements are available where up to 6 Workspaces can be linked

PEXA Qualifier - How to identify a file

PEXA Qualifier helps you easily identify transactions you can complete online.

Access PEXA Qualifier. 

Follow the steps below to confirm if your transaction can be completed in PEXA. 

Select Transaction Type

1. To begin select the Jurisdiction of your transaction, and then choose either Transfer or Refinance.

Find Participants to Invite

2. Next, you can add the participants involved in the transaction. Select the other participant’s role in the transaction; for example the Financial Institution providing loan funds for the transaction should be added as an Incoming Mortgagee.

3. Once the role has been selected, you can search and select the participant’s name from the drop down list. For example: ANZ.
4. Now that you have selected the participant, the Qualifier Tool will tell you whether the participant is a subscriber in PEXA.

Note: In the scenario below, the user has selected an acronym (ANZ). In PEXA, you will need to invite the subscriber, using the subscriber name entered into the system (Australia and New Zealand Banking Group Limited). PEXA Qualifier will automatically identify this and let you know what subscriber name you will need to use for your PEXA Workspace.

6. Click Add a Participant if there is more than one party that needs to be involved in the transaction.

Note:

• If the selection is represented by one or more participants in PEXA, the tool will ask you to select the brand for the loan. For example, if you enter Westpac Banking Corporation, but the brand name for the loan is Bank of Melbourne.
• Once you have selected the brand of the loan, the tool will tell you the right subscriber to invite into the PEXA Workspace.
• If the participant cannot be found in the system, you will see the following message “We are unable to find a matching participant”. You will then have the option to submit a referral so that PEXA can reach out to the party.

Enter Transaction Information

Once all of the participants have been found, you will be asked some questions to determine whether the transaction can be transacted on PEXA, such as: 

• Is the transaction a simultaneous settlement?
• Is there a power of attorney involved in the transaction?
• Is the client(s) purchasing a commercial property that involves a mortgage?
• Can the transaction be assessed by Electronic Duties Returns?

If a response does not meet the criteria to process the transaction in PEXA, you will receive a reason below the question in red.

If all criteria are met, the following message will display:

Once you have checked the file, you can either Log in to PEXA or Check another transaction.

PEXA Key Terms

This page explains some of the key terms you’ll need to know when completing electronic transactions in PEXA.

A

Active Jurisdiction

The active jurisdiction is defined as the jurisdiction(s) available to complete property transactions online, as set out in the Service Charter. These transactions are completed on the Electronic Lodgement Network (ELN), currently operated by PEXA. The active jurisdiction for an electronic transaction is determined by the geographical location of the land identified in the Certificate of Title.

 PEXA, is currently live in five active jurisdictions: Victoria, New South Wales, Queensland, South Australia and Western Australia.

Refer to the Participation Agreement for further information.

Authorisation/Authorised

This is defined as the provision of approval to complete an activity within PEXA, for example providing authorisation for the movement of funds to enable financial settlement.

 In order to provide authorisation, PEXA users must have a Digital Certificate, and are required to digitally sign using their Digital Certificate.

Refer to the Participation Agreement for further information.

Authorised Signatory

An authorised signatory, is a person(s) who has been nominated by their organisation to digitally sign actions in PEXA, on behalf of their organisation.

For example, a trust account authorised signatory can confirm movement of funds from the organisations’ Trust Account in order to affect financial settlement.

Australian Registrars' National Electronic Conveyancing Council (ARNECC)

The body established to facilitate the implementation and ongoing management of the regulatory framework for National e-Conveyancing.

 ARNECC developed and maintain the Model Participation Rules (MPR) and the Model Operating Rules (MOR), which outline the governance and compliance regulations that apply to operators and users of the Electronic Lodgement Network (ELN).

C

Caveator on Title

Caveator on Title is a role in PEXA which refers to the represented party who currently has a Caveat registered on the Certificate of Title.

Client Authorisation

Client Authorisation is defined as consent provided by the client for a PEXA Member to transact on their behalf in PEXA (as outlined in the Model Participation Rules). In order for a PEXA Member to complete conveyancing matters electronically on behalf of a buyer or seller client, authorisation must be provided. Client Authorisation is not required for Caveats, Priority/Settlement Notices, Extensions of Priority Notices or Withdrawals of Priority/Settlement Notices.
Client Authorisation is obtained using the Client Authorisation Form.

Refer to the Electronic Conveyancing National Law for further information.

Control of the Right to Deal (CoRD) (NSW Only)

In New South Wales, Control of the Right to Deal (CoRD) refers to the right of a party to control the registration of most Land Registry instruments that could affect ownership of the estate or other registered interests in the estate.

CoRD can be held by the following parties:

• If there is a registered mortgage, CoRD could be held by the party who holds the mortgage
• If there a charge against the title, CoRD could be held by the party who holds the charge
• If there is no registered mortgage, CoRD is held by the party listed on the title (registered proprietor)

Consent (NSW Only)

In New South Wales, for a transaction to be successfully lodged the CoRD Holder must provide consent for the transaction. To provide consent, the CoRD Holder must lodge an authorisation document, known as a Consent document, with the New South Wales Land Registry.

E

Electronic Certificate of Title

An eCT is a digital version of a Land Title. eCT’s support the framework developed to enable successful completion of online conveyancing transactions.

Electronic Lodgement Network (ELN)

The ELN refers to the framework developed to support the electronic lodgement of registry instruments or other electronic documents for the purposes of land titles legislation, currently operated by PEXA.

Refer to the Electronic Conveyancing National Law for further information.

I

Incoming Caveator

Incoming Caveator is a role in PEXA, which is used to describe the represented party who intends to lodge a Caveat on a Certificate of Title.

Incoming Mortgagee

Incoming Mortgagee is a role in PEXA, which is used to describe the party (or the represented party) who intends to lodge and register a new mortgage on a Certificate of Title.

Incoming Proprietor

Incoming Proprietor is a role in PEXA, which is used to describe the represented party who intends to be recorded on the Certificate of Title as the new vendor/proprietor of the property. This party is commonly referred to as the purchaser.

L

Lodgement Instructions

The lodgement instructions are an automatically generated electronic form which outlines the information required by the Registrar, for a registry instrument(s) to be successfully lodged with a Land Registry.

Refer to the Model Participation Rules for further information.

Lodgement Verification

Lodgement verification is an automatic check which is completed between PEXA and the Land Registry, to ensure that the required registry instrument(s) can be successfully lodged with the Land Registry.

Refer to the Model Operating Requirements for further information.

M

Model Participation Rules (MPR)

The MPR is a document that outlines the regulatory requirements of PEXA Members. These rules are determined by the Australian Registrars’ National Electronic Conveyancing Council (ARNECC) on behalf of the Registrars’.

Refer to the Model Participation Rules for further information.

Mortgagee on Title

Mortgagee on Title is a role in PEXA, which is used to describe the party (or the represented party) who currently has a registered mortgage on a Certificate of Title.

P

Proprietor on Title

Proprietor on Title is a role in PEXA, which is used to describe the represented party who is currently named as the owner of the property. This party is commonly referred to as the Vendor.

PEXA Member

A Member is the term used to refer to an entity or person who is authorised under a Participation Agreement to use the Electronic Lodgement Network (ELN) to complete e-Conveyancing transactions on behalf of another person or themselves. Subscribers are often referred to as Subscribers.

R

Registry Information Supply (RIS)

Registry Information Supply (RIS), refers to the Land Registry service where they supply relevant land title information. Once supplied, Land title information is displayed in PEXA, to assist with the successful completion of conveyancing transactions.

Registration Information Supply (RIS) is automatically initiated when a PEXA Workspace is created as well as when a land title is added to an existing PEXA workspace.

Refer to the Model Participation Rules for further information.

Responsible Subscriber

Responsible Subscriber refers to the Workspace participant, who will incur the lodgement fees related to the e-Conveyancing transaction completed. The Responsible Subscriber is also responsible for managing the resolution of any requisitions issued by the Registrar. In paper transactions, they are commonly referred to as the lodging party.

Refer to the Model Participation Rules for further information.

S

Subscriber

A Subscriber is the term used to refer to an entity or person who is authorised under a Participation Agreement to use the Electronic Lodgement Network (ELN) to complete e-Conveyancing transactions on behalf of another person or themselves. Subscribers are often referred to as PEXA Members.

Refer to the Electronic Conveyancing National Law for further information.

Subscriber Administrator / Manager

This term describes a person(s) within a PEXA Member organisation, who has access to complete administration tasks on behalf of their organisation, these include:

• managing workgroups,
• creating and maintaining user details; and
• assisting users as required.

As well as being able to complete administrative functions, a Subscriber Manager is also able to update information relevant to the organisation in the subscriber profile.

Refer to the Participation Agreement or the Model Participation Rules for further information.

Subscriber Profile

A subscriber profile is your account profile within the PEXA platform. Your subscriber profile includes information about your organisation including, registered account details and user permissions.

Refer to the Participation Agreement for further information.

T

Title Activity Check

A TAC is automatically completed to determine whether any activity has been recorded against the title. A positive TAC indicates that activity has been recorded against the title.

Refer to the Model Participation Rules for further information.

U

User

A person(s) within a PEXA Member organisation who is authorised to access and use the Electronic Lodgement Network (ELN) e.g. PEXA. A user can be assigned certain permissions, for example, the permission to sign land registry documents.

Refer to the Model Participation Rules for further information.

V

Verification of Identity

VOI refers to a process by which a person(s) identity can be proven. VOI is completed as defined in the Model Participation Rules (MPR). To transact on behalf of your clients’, you are required to complete a VOI for each client that you represent in PEXA.

Refer to the Model Participation Rules for further information.

W

Workspace

The term Workspace, refers to a shared online area within PEXA, where participants can communicate with each other and complete tasks in preparation for an electronic property transaction.

Refer to the Model Participation Rules for further information

Workgroup

A workgroup, refers to a team of users assigned to complete tasks in PEXA. Creating a workgroup is particularly beneficial for large organisations which include several office locations or multiple business units.

Refer to the Model Operating Requirements for further information.

Workspace Roles

Roles help determine your responsibility in a Workspace and the tasks and documents you can create and sign.
 

PEXA Role examples:

• Incoming Mortgagee:  You are creating the Workspace to request the transfer of a mortgage and the associated titles from another financial institution.
• Mortgagee on Title: You possess the title based on holding a mortgage.
• Consentor (NSW): You are giving the permission to process the transaction as you are the controlling party of the title.
• CT Controller (VIC): You are giving the permission to process the transaction as you are the controlling party of the title.
• Incoming Proprietor: You are representing the purchaser in a transfer transaction.
• Proprietor on Title: You are representing the vendor in a transfer transaction.
• Incoming Caveator: You have grounds to register a caveat on the title(s).
• Caveator on Title: You have grounds to withdraw a registered caveat on the title(s).
• Applicant (VIC/NSW/QLD): You are lodging a Priority Notice for a paper transaction(s).
• Encumbrancee on Title (SA): You are representing the party with an encumbrance registered on the title(s).
• Incoming Encumbrancee (SA): You are representing the party intending to register and encumbrance on the title(s).

Role Assignment

When you first create a Workspace, you assign yourself a role. Alternatively, if you accept an invitation to the Workspace, the role specified on the invitation is your current role.

For Example - Refinance: A Subscriber, Flinders Bank, wishes to initiate a mortgage refinance for a new customer that has walked into their city branch. Flinders Bank creates a Workspace in PEXA with the role of Incoming Mortgagee. In that role, PEXA automatically assigns tasks to create a new National Mortgage document. The Incoming Mortgagee must then invite the bank who holds the current mortgage to the Workspace, Blue Bank. Blue Bank is invited as Mortgagee on Title and asked to create a discharge of their mortgage.

View Roles Assigned to a Workspace

Your Role assigned to a particular Workspace is displayed under Workspace Settings in the left navigation panel of your Workspace.

Edit Roles Assigned to a Workspace

You can change or add a Role from the Workspace Settings screen. 

1. Select Workspace Settings from the left navigation.
2. From the Role Settings section, select Edit.
   
3. Choose your new Role from the Role drop down list.
4. Select Add Role.
5. From the Actions cog menu, determine if this Role will be your Default role.

Result: Your new Role will display in the Role Settings section of the Workspace Settings screen. If this role is your default role, it will display under Workspace Settings in the left navigation panel.

Changing an incorrect role

If you have been assigned an incorrect role in a Workspace, follow the above steps to add the correct role. Then remove the incorrect role using Actions and then Remove.  

Representing both a vendor and a purchaser in a transfer transaction in a single PEXA workspace?

Simply follow the steps above to add the additional role, either Proprietor on Title or Incoming Proprietor. You can then switch between these roles to successfully complete the tasks assigned in the workspace. 

Create a Workspace

A Workspace is a shared area in PEXA where Subscribers prepare property instruments and settlement documents for a property exchange transaction to effect lodgement and or settlement. A new Workspace is created for each new property exchange and multiple land titles can be added to the one Workspace. Multiple titles may include an Apartment with a separate car space title.

Information for a New Workspace

To create the Workspace, the following key details are required:

• Jurisdiction: The jurisdiction will default based on your user preferences and is the State in which the land title transaction belongs.
• Representative Role: This is your role in the Workspace. Refer to the article on Workspace Roles for more details.
• Land Title Reference(s): The properties you wish to transact on.
• Subscriber Workspace Reference: This is your identifier for this Workspace. This could be a reference used in your internal systems or an internal ID to help track the Workspace.
• Financial settlement required?: If financial settlement is required, you will specify the date and time for the settlement.
• Workgroup: The team of users assigned responsibility for the completion of tasks within the Workspace.

Create a Workspace

1. Click Create New Workspace on the left navigation panel. 
   
2. Confirm the Jurisdiction for the Workspace is correct. 
   Note: Your jurisdiction defaults from your user preference settings. 
3. Select a Representative role. The Representative Role will be your role for this Workspace.
4. Enter the Land title reference and click Validate.
   Note:
   • The Land Title Reference is the identifier for the land title your are processing in the Workspace. 
   • All land titles entered into a Workspace are validated with the relevant Land Registry Office. 
   • If the Land Title reference is valid, Land Title address details are automatically populated in the Titles List, except in Victoria where the details are returned when the Workspace is created. 
5. Enter the Subscriber Workspace Reference. This is an internal reference such as your customer references number or matter number, to help identify the Workspace at a later date. The reference can come from an internal software system, internal record keeping or could be a new reference format. This field allows for any identifier to be entered. For example: “RM:2035467_34”.
6. If the Workspace contains Financial Settlement: Select Yes to Financial Settlement Required? Enter a Financial settlement date. Enter a Financial settlement time.
7. Mark all land title references in workspace as parent? Defaults to No.
   An example whereby this question may be answered as Yes is if a developer is subdividing a ‘parent’ property into ‘child’ titles. The parent title is used as a placeholder in the workspace until completion of the development when further titles are assigned.
8. Request land title data? Defaults to Now.
   This ensures the land title data is returned immediately from the Land Registry. Select Later if your transaction does not require Land Registry data at this point in time.
9. Select a Workgroup. The Workgroup is the team you wish to assign this new Workspace to. Every Workspace requires at least one Workgroup. 
10. Select Save. 

Result: The Workspace Summary Screen is displayed, and the Participants can now be added to participate in the property transaction.

How to Withdraw from a Workspace?

If you need to withdraw from or abandon a Workspace for any reason, you can do so easily with PEXA. On this page, you’ll learn how to withdraw from a Workspace.

For instance, you may wish to withdraw from a Workspace that was created in error, or the transaction has moved to the paper world outside of PEXA.

To withdraw from a Workspace

Your Dashboard

1. Click View to open the selected Workspace. 
2. Navigate to the Participants screen.
3. Click Withdraw from Workspace.
   Note:
   • The Workspace must be in a status of In Preparation or Prepared.
   • When withdrawing from the Workspace with other participants, we recommend you first send a message via the Conversations screen to the other participants informing them of your reasons. 
4. When you are the only participant in the workspace, a callout advises you that the workspace will be abandoned. Click Confirm. 

How to Create a Caveat (All States)

The PEXA System integrates with the Land Registry so that a caveat can be lodged against a title electronically, in real-time. PEXA also supports the withdrawal of a caveat.

A printable Caveat and Withdrawal of Caveat help card can be found at the bottom of this article - PEXA Caveat Help Card. 

How to lodge a caveat using PEXA

Lodging a caveat using PEXA is quick and easy. The steps are as follows:

1. Create the Workspace in PEXA and add the relevant land title.
2. Add the party(s) to the Workspace.
3. Create the caveat.
4. Sign the document electronically.
5. Lodge the document in real-time.

Find out more about Caveats - Prohibitions and Claims. 

Click "I'd like to try it myself"! Or to launch the tutorial in a new screen, click here.  

For step by step instructions on how to Create a Caveat in your State, see below:

• Create a Caveat - NSW
• Create a Caveat - QLD
• Create a Caveat - VIC
• Create a Caveat - WA
• Create a Caveat - SA

@Lightsaber has also built the Create and Withdraw Caveat process as a flowchart which can be downloaded as a PDF! Access it here. 

Completing the Getting Started with PEXA program? See whats next.

Now that you've mastered creating a Caveat, go to the next page, Withdrawing a Caveat, to learn about withdrawing a caveat through PEXA.

Withdraw a Caveat

A caveat can be placed on a land title electronically using a new Caveat Document in a PEXA Workspace. A caveat can also be withdrawn, when it is no longer required, using the Withdrawal of Caveat document.

Note: A printable Caveat and Withdrawal of Caveat help card can be found at the bottom of this article - PEXA Caveat Help Card. 

Click "I'd like to try it myself"! Or to launch the tutorial in a new screen, click here. 

The below depicts the steps involved in withdrawing a caveat.

It’s important to note that the PEXA role is Caveator on Title for the withdrawal of a caveat.

5 Steps in PEXA

1. Create a new workspace, in the role of Caveator on Title.
2. Add the applicable land title(s) to the workspace and review the Land Titles screen for all caveat details.
3. Ensure you represent the correct party using the Participants screen.
4. Navigate to the Documents screen and add a Withdraw Caveat document.
5. Sign and lodge the documents with your land registry.

Watch a video or follow the step by step instructions below

How to instructions begin at 50 secs.

Create Withdrawal of Caveat Document

1. Create the Workspace

The representative role is Caveator on Title.

2. Review the Land Title information

Validate that the information returned from the Land Registry is correct and that the caveat you wish to withdraw is registered on the land title.

3. Review Party Details

From the Participant screen, you will need to Edit the Unrepresented party to confirm that you are acting for the client. This is the person who is withdrawing the caveat. Select Edit Party from the Actions cog. Select I Represent this Party and enter in relevant details.

4. Create the Withdrawal of Caveat

Because you selected the role of Caveator on Title, PEXA will know you want to create a withdrawal of caveat. Therefore when you click Create Document you will automatically be taken to the Withdrawal of Caveat screen.

Note: You can also create the withdraw document from the Land Title Screen by clicking the ‘Withdraw’ button. However, first, you must tell PEXA who you are representing in the participant screen.

The caveat dealing number, title, address and caveator details will automatically default.

• Save the Withdrawal of Caveat.
• Edit the lodgement instructions ensuring the Subscriber details and Client Reference Numberis correct.
  Note: The Client Reference Number is limited to a maximum of 15 characters. This is a restriction of characters set by the Land Registry, not PEXA. Click Save.

Verification is carried out on the documents by the Land Registry.Wait for the auto refresh to progress the status to Prepared and the Verification Result is at Successful.Once both the lodgement instructions and Withdrawal of Caveat status are at Prepared.View the lodgement instructions rendered document to ensure all information is correct.

• Sign both the lodgement instructions and the Withdrawal of Caveat Documents.
• You will be asked to Run Java and enter in the Digital Certificate password. Do both when prompted.

5. Submit caveat for lodgement

Once Signed;

• Select Submit for Lodgement against the lodgement instructions.
• Wait for the auto refresh to progress the status to Completed for the lodgement instructions and Registered for the Withdrawal of Caveat document.

Note: You may have to manually refresh the screen to progress from Unregistered to Registered.

You can view your dealing number and the Workspace status is now at Complete and moves to the completed folder in PEXA from the Active Screen on ‘your dashboard’. To view this, navigate to the Workspace Summary screen in the Completed folder.

Completing the Getting Started with PEXA program? See whats next.

Now that you understand how to process Caveats, read the article,Setting up a Trust Account, to learn how to prepare your trust account in PEXA, ready for completing an electronic transfer. If you operate in NSW, you may also want to review the article Preparing a Consent (NSW), or if you operate in QLD, you want to review the article Settlement Notices (QLD).

Priority Notices (NSW/ QLD/ VIC)

A Priority Notice is a notice which is lodged against a title to reserve priority for a pending transaction that will affect that title. Refer to Priority Notice FAQs for additional information. 

A Priority Notice, when recorded on title, has a twofold effect:

• Reserve priority for the transaction set out in the Priority Notice, and
• Notify parties searching the title that a transaction to be lodged against title is imminent.

Note: there is a downloadable Help Card at the bottom of this article

Electronic and Paper Channels

Importantly, a Priority Notice may be created for a future dealing that will be completed in either the paper or the PEXA channel.

NSW & QLD - VIDEO AND TRAINING SIMULATOR

Follow the video and simulator below to see how to complete a Priority Notice in NSW or QLD.

Note: To launch the simulator in a new screen, click here.

Victoria

Follow the video and simulator below to see how to complete a Priority Notice in Victoria.
Note: To launch the simulator in a new screen, click here. 

Roles

• If the dealing is expected to occur in the paper channel, then a standalone Priority Notice is created in the role of Applicant;
• If the dealing is expected to be processed electronically, in a PEXA Workspace, then the Priority Notice can be created by the participant in the role of either Incoming Proprietor or Incoming Mortgagee (providing the workspace has a financial settlement).

Duration

A Priority Notice will be effective on title for 60 calendar days from the date of lodgement. A Priority Notice may be extended for a period of 30 calendar days only once in NSW only. An extension is facilitated through the lodgement of an Extension of Priority Notice.

Note: The Subscriber that lodged the Priority Notice is the only Subscriber that may extend or Withdraw that Priority Notice.

Visibility of the Priority Notice

Once lodged, a Priority Notice against a title is displayed on any subsequent Title searches. For any titles added to a PEXA workspace, the existence of a Priority notice is indicated on the Land Titles screen.

Create and lodge a Priority Notice

Creating a Priority Notice in PEXA has the same general steps, regardless of whether you create it in the role of Applicant or Incoming Proprietor. The role of Applicant may only be used in stand-alone Workspaces (for example, a Priority Notice for a transfer that is commencing in paper).

What happens if a dealing is lodged that does not match the Priority Notice?

While a Priority Notice is in effect, any dealing, except those excluded in section 74W(2) of the Real Property Act 1990 NSW or Transfer of Land Act 1958 - Sect 91F Victoria will lodge and be visible as an unregistered dealing, the dealing will only become registered once the following occurs:

• The dealing(s) identified in the Priority Notice are lodged and registered on title, or;
• The Priority Notice is withdrawn, or;
• The Priority Notice expires. 

Auto populating Priority Notice in the Roles of Incoming Proprietor and Incoming Mortgagee

When creating a Priority Notice in the role of Incoming Proprietor or Incoming Mortgagee, PEXA speeds up the creation of your Priority Notice through the use of data returned from the Land Registry to pre-populate information.

Note: This functionality is not leveraged for a standalone Priority Notice created in the role of Applicant.  

withdrawal of a priority notice

A Priority Notice automatically lapses after 60 days, however the Subscriber that lodged the Priority Notice has the ability to Withdraw that Priority Notice.

A Priority Notice for a dealing that may occur in either the paper or PEXA channel, may be created, extended and/or withdrawn from within the same PEXA workspace.  This new feature has been designed to minimise transaction costs to PEXA members.

To do this:

1. Navigate to the Workspace where the Priority Notice was lodged.
2. If this was a standalone Workspace, from your Dashboard, navigate to the Completed folder.
3. Find the relevant Workspace (remember you can sort or filter to assist in locating your Workspace) and click View.
4. Navigate to the Documents Screen. 
5. You will notice the Priority Notice is listed as Registered.
6. From the Action Cog, select Withdraw Priority Notice. 
7. The Withdrawal of Priority Notice lodgement case is automatically created.
   
8. View the Withdrawal of Priority Notice. 
   
9. Sign and lodge the withdrawal of Priority Notice as normal. 
   Note: If the Workspace includes financial settlement, PEXA will ask the user if the Withdrawal of Priority Notice is to be created in its own lodgement case or in the lodgement case linked to financial settlement.

Extending a priority notice (NSW only)

An extension of a Priority Notice is facilitated through the lodgement of an Extension of Priority Notice. To lodge an extension, you can return to the existing workspace in which the original Priority Notice resides.

• An extension of Priority Notice will always be created in its own lodgement case.
• Only a user from the subscriber organisation that created a Priority Notice may extend or withdraw the Priority Notice.

To do this:

1. Navigate to the Workspace where the Priority Notice was lodged. 
2. If this was a standalone Workspace, from your Dashboard, navigate to the Completed folder.
3. Find the relevant Workspace (remember you can sort or filter to assist in locating your Workspace) and click View. 
4. Navigate to the Documents Screen.
5. You will notice the Priority Notice is listed as Registered.
6. From the Action Cog, select Extend Priority Notice. 
7. The Extension of Priority Notice lodgement case is automatically created.
   
   
8. View the Extension of Priority Notice. 
   
9. Sign and Lodge the Extension of Priority Notice as normal.

Withdraw a Settlement Notice (QLD)

Settlement Notices automatically lapse two months after lodgement. However, after you have lodged the Settlement Notice, there may be a reason the Settlement Notice needs removing, for example Settlement does not continue. Only the transferee who lodged the Settlement Notice may withdraw the settlement notice.

Note: You can also create, Sign and Lodge a Removal of Settlement Notice as a standalone document in a single Workspace (outside a transfer transaction) or in a transfer Workspace.
To do this:

1. Go to Documents from the left hand navigation.
2. From the Create Document tab, click Removal of Settlement Notice.
   
3. From the Applicant section, select your applicants (these will be the parties who requested the original Settlement Notice).
   Note: If there are multiple Settlement Notices on this title, select the relevant Settlement Notice Number. If there is only one, it will prepopulate.
   
4. Click Save.

Documents are verified between PEXA and the Land Registry for any errors. PEXA auto refresh occurs every 10-15 seconds after verification and lodgement. Both the Lodgement Instructions and Removal of Settlement Notice Status will move to Prepared.
Before you Sign any documents, view them to ensure they are correct and that you agree to all certifications relating to that document. Treat digital signatures the same as wet signatures.
To view the rendered document:

1. From the action cog next to the documents, select View.
2. View your document.
3. Click Back.
4. You can also view your documents from the Signing page.
   Note: If your parties do not match the parties who placed the original Settlement Notice, you will notified at this point.
5. Sign both the lodgement instructions and the Removal of Settlement Notice. Next to each document, select Sign from the action cog.
   Note: Before the signing screen displays, you may be asked to Run Java, which is required by the Digital Certificate. Ensure you have the latest version of Java on your computer otherwise you may not be able to Sign documents in PEXA.
6. Select the documents to be signed.
7. Click Sign Documents.
   
8. Type your password in the signing pop up box.
9. Click OK.

Documents are verified between PEXA and the Land Registry for any errors. The PEXA auto refresh occurs every 10-15 seconds. The status of the Lodgement Instructions and Settlement Notice will now move to Signed.

Submit Removal of Settlement Notice for lodgement

Once Signed:

1. Next to the lodgement instructions select Submit for Lodgement from the action cog.
2. When a lodgement is received by the Land Registry, the Land Registry will provide a Dealing Number for the caveat. PEXA will return a status of Lodged for the lodgement instruction. Once examination is completed by the Land Registry, the status of the document returned to PEXA will be Registered.
   Note: You may have to manually refresh to progress the screen from Unregistered to Registered.

Standalone Survivorship Application (ASP) - VIC

PEXA supports a standalone Survivorship Application in Victoria. If a joint tenant on a property title passes away, then the surviving proprietor should make an application to the Land Registry to have the deceased’s name removed, so that only the surviving proprietor’s name is on title.

You can download a printable Help Card at the bottom of this article.

Watch the webinar and demo of Survivorship below

To complete a Survivorship Application, follow the below steps. We have created a scenario to assist with this how-to article.

Scenario:

Margaret and Maxwell Black are joint tenants of a property in Lorne, Victoria. Maxwell Black has passed away. You have received instructions from Margaret to complete a survivorship application to remove Maxwell as a proprietor from the land title.

Important note: the same Subscriber must represent all surviving Proprietor’s on Title.

1. Create Workspace in the role of Proprietor on title.

2. Check the Land Titles screen. 

3. Navigate to the Participants screen: 

• Use the action cog to confirm you represent Margaret Black and complete any outstanding details.
• For Maxwell Black, use the action cog to edit his details and select The Proprietor is Deceased.

4.  Navigate to the Documents screen and select Create Document and then Survivorship. 

Important Note: If there are multiple Joint Tenancies, select the correct Joint Tenancy from the Joint Tenancy drop down box.

5. Review the details and select Save. 

6. If you hold a duplicate certificate of title, prepare the Nomination now:

• On the Document screen select Create Document>Nomination
• Complete the details and select Save. 
• View, Sign and Submit in the usual manner. 

Note: If the title is an eCT and you are named as the CT Controller, no Nomination is required.

Note: If a third party (e.g. a bank) holds the duplicate Certificate of Title or is named as the CT Controller of an eCT, you will need to invite them into the Workspace to prepare the Nomination.

7. Edit the Lodgement Instructions. View, Sign and Submit for lodgement in the usual manner

Important notes:

• If the Survivorship Application is required for a Transfer, you will need to complete a standalone Survivorship Application prior to opening the Transfer Workspace.
• Should you inadvertently create a Transfer Workspace that requires a Survivorship, create an additional Workspace and lodge the Survivorship, then request an Information Resupply in the Land Titles screen of the Transfer Workspaces after successful registration of the Survivorship Application.

Give it a go in this Interactive Demo

Click on "I'd like to try it myself" to get started. Note: To open the simulator in a new screen, click here. 

Transmission Application (APR) - VIC

Jurisdiction: VIC

PEXA supports the electronic lodgement of a Transmission Application in Victoria.  If a Sole Proprietor, a Tenant in Common, or all tenants in a Joint Tenancy on a property title have passed away, then a Transmission application should be made to appoint a representative to an estate. Transmission Applications in PEXA cannot currently be used for scenarios involving bankruptcy, but we will advise you further once this is available.

A Transmission can be lodged:

• Standalone, or in combination with a Mortgage or Caveat
• With or without financial settlement.

Currently, PEXA does not support lodging a Transmission in combination with a Transfer. In such cases, you would need to lodge and register the Transmission first, and then lodge a Transfer via a separate Workspace. 

Important Note! Ensure the Transmission is lodged and registered prior to creating a Transfer Workspace.

Note: You are not required to provide supporting documentation in PEXA to lodge a Transmission but please ensure that you are in possession of the correct documentation.

You can download a printable Help Card at the bottom of this article.

How to create a Transmission

1. Create the Workspace in the role of an Incoming Proprietor.
2. Review the Land Title.
3. Create the Legal Personal Representative as an Incoming Proprietor party:
1. Navigate to the Participants screen and then click Create Party.
2. Select Incoming Proprietor as the role.
3. Select the correct Party Capacity to be recorded on Title for the Legal Personal Representative.
4. Complete the form per your normal process.
4. Register the parties as deceased:
   • If there are multiple titles in the workspace, select the correct title.
   • If there is a single title, the title will be automatically selected.
1. Navigate to the Documents screen and then select Create Document > Transmission.
2. Select the Title(s) that the deceased party(ies) is in:
3. Select the Tenancy Group that the deceased party(ies) is in.
   All parties now appear as deceased.
4. Under Applicant Details, select the primary deceased if there are multiple deceased parties.
   

   The primary deceased is the person who has most recently passed away, whose Legal Personal Representative will be recorded on title.

5. Save the changes.
5. Optionally, lodge a Nomination as CT Controller:
   At this stage, if you are in possession of the title, you can create a Nomination. To nominate a title, you must add a role as CT Controller. Alternatively, if another party is required to lodge the nomination, for example a Financial Institution, invite them into the Workspace as a CT Controller. If you do not need to lodge a Nomination, then skip this step.
1. Once the Transmission Application is prepared, click on Workspace Settings.
2. Select Role Settings > Edit.
3. Select the role CT Controller. If required, update the Subscriber reference and then click Add Role.
4. Save the changes.
5. Go Back to the Documents screen, and then sign and lodge the Nomination.
6. Edit the Lodgement Instructions:
1. On the Document screen, select Action cog > Edit against Lodgement Instructions.
   Notice that there is a dealing requirement. No evidence is required to be submitted via PEXA however ensure that you are in possession of the correct documentation.
2. Complete the Issuing Instructions as required and then click Save.
7. Lodge the Transmission Application documents:
1. Once the Transmission Application is prepared, select Action cog > View to view a render of this document.
2. Go Back to the Documents screen, and then sign and lodge the Transmission.

Note:  If the participant created in the Transmission is also the eCT holder, then no Nomination is required. However, If the party is not the eCT holder, then Nomination must be lodged in the Workspace by the eCT holder or the party in possession of the CT prior to the Transmission.

Transmission Application (SA)

Jurisdiction: SA

If a Sole Proprietor on a property title has passed away, then a Transmission application should be made to appoint a representative to an estate.

Note: there is a downloadable help card at the bottom of this article.

In SA, you are required to provide supporting evidence of the death such as Registrars Certificate, or Letter of Administration. Use the following steps to complete a Transmission in South Australia in PEXA.

NOTE: Currently, PEXA does not support lodging a Transmission Application and a Transfer in the same Workspace. Should a Transfer be required, you would need to lodge and register the Transmission Application first, and then lodge a Transfer in a separate Workspace.

1. Create a Workspace with the role of Incoming Proprietor.
2. Review the Land Title.
3. Create the Administrator or Executor as an Incoming Proprietor party:
   1. Navigate to Participants screen and then click Create Party.
   2. Select Incoming Proprietor  as the role.
   3. Select Administrator or Executor as the Party Capacity to be recorded on Title for the Legal Personal Representative.
   4. Complete the rest of the form as per your normal process.
4. Register the Proprietor on Title as deceased:
   1. Navigate to Participants screen.
   2. For the deceased party, select Action cog > Edit Party.
   3. For Representation, select The Proprietor is deceased.
   4. Add Details of Death: 
      • Click Add Details of Death.
      • Enter the Date of death.
      • Click Confirm.
   5. Save the changes.
5. Create a Transmission document:
   1. Navigate to Documents > Create Document > Transmission.
   2. Add Evidence Details:
      
      • Click Evidence Details.
      • Click Save.
   3. Save the changes.
6. Upload supporting documents as evidence of death:
   1. Navigate to Files > Upload File.
   2. Browse to locate the file.
   3. Select the correct File Description.
   4. Select Share with All Workspace Participants.
   5. Select the files and then click Upload.
      Continue to upload files as necessary. Typically, documents required could include Letters of Administration or Registrar's Certificate.
7. Attach uploaded files to the Transmission:
   1. On the Files screen, select Action Cog > Attach for the file you want to attach.
   2. Select Transmission.
   3. Click Attach.
8. Lodge the Transmission application:
   
   1. Once the Transmission Application is prepared, select Action cog > View to view a render of this document.
   2. Go Back to the Documents screen, and then sign and lodge the Transmission.

Lodge an Encumbrance - SA

PEXA has the ability to lodge an Encumbrance and Discharge an Encumbrance in SA. An encumbrance can be registered on a title as a restriction regarding the use of the land. It is an agreement creating various obligations on the parties, restricting or forbidding certain acts on the property.

When purchasing a property in a recently developed area, an encumbrance in favour of the developer often appears against the title of the property. Many encumbrances aim to maintain uniformity within the development and are applicable to each and every property in the area.  Encumbrances can be seen as a benefit, as they help maintain consistency with certain types of developments.

Other encumbrances can be ‘lifted and replaced’. As the terms specify, they do not run with the title.  The existing encumbrance is discharged as part of settlement (i.e., lifted) and a new encumbrance in the purchaser’s name in similar terms is registered at settlement (i.e., replaced).

You will see the roles of Encumbrancee on Title and Incoming Encumbrancee when creating a new workspace in PEXA. This functionality also supports the uploading and attaching of supporting Covenants via the Files screen.

Watch a demo and webinar on SA Encumbrances below (24 mins)

1. Create a Workspace in the role of Incoming Encumbrancee with no financial settlement.

Note: If this is part of a Transfer (ie. a lift and replace encumbrance), you will most likely be invited into a Transfer Workspace by the Incoming Proprietor or Proprietor on Title.

2. Check the Land Title details screen. 

3. On the Participants screen, create your party details. 

Note: You will not be able to lodge your encumbrance until the Proprietor on Title has been represented in the Workspace as they are required to sign the Encumbrance. If required, invite in the Proprietor on Title now.

4. On the Documents screen, select Create Document and complete the relevant information:

• Details of rent charge
• Terms and conditions:
  • If you have a Land Registry Reference number for your Encumbrance, enter it into the Document Reference field. 
• Additional terms - you can either upload an attachment through the Files screen or enter in any additional terms in the free form text field. 

5. If you elected to attach additional terms, navigate to the Files screen. 

 6. Select Upload File. 

7. Browse for the file you wish to upload.
Note: The document must be uploaded in PDF format. 

8. Select File Description and then Covenants. 

9. Once uploaded, click on the action cog and select Attach. 

 The following screen will display:

10. Select Attach. 

11. Navigate back to the Documents screen. 

 12. View, Sign and Submit in the usual manner. 

Discharge an Encumbrance - SA

PEXA has introduced the ability to lodge an Encumbrance and Discharge an Encumbrance in SA. An encumbrance can be registered on a title as a restriction regarding the use of the land. It is an agreement creating various obligations on the parties, restricting or forbidding certain acts on the property.

When purchasing a property in a recently developed area, an encumbrance in favour of the developer often appears against the title of the property. Many encumbrances aim to maintain uniformity within the development and are applicable to each and every property in the area.  Encumbrances can be seen as a benefit, as they help maintain consistency with certain types of developments.

Other encumbrances can be ‘lifted and replaced’. As the terms specify, they do not run with the title.  The existing encumbrance is discharged as part of settlement (i.e., lifted) and a new encumbrance in the purchaser’s name in similar terms is registered at settlement (i.e., replaced).

You will see the new roles of Encumbrancee on Title and Incoming Encumbrancee when creating a new workspace in PEXA. This functionality also supports the uploading and attaching of supporting Covenants via the Files screen.

Watch a demo and webinar on SA Encumbrances below (24 mins)

1. Create a Workspace in the role of Encumbrancee on Title with no financial settlement.

Note: If this is part of a transfer (and a lift and replace is required), you will most likely be invited into a Transfer Workspace by the Incoming Proprietor or the Proprietor on Title.

2. Check the Land Title details screen. 

3. Navigate to the Participants screen, locate the party shown as Encumbrancee on Title and use the action to confirm that you represent this party. 

4. Navigate to the Documents screen, click Create Document and select Discharge of Encumbrance. 

5. Ensure the details are correct and select the appropriate Set of Operative Words for this Discharge of Encumbrance. 

6. View, Sign and Submit in the usual manner. 

Transfer Guidelines

Transfer Guidelines - Current as of May 2018

The PEXA guidelines have been developed to assist Subscribers with what they should be doing, and when, in order to ensure the timely and successful completion of a PEXA settlement. They have been developed through industry-wide collaboration with the intention to meet the needs of all PEXA Subscribers.

The guidelines are:

•  not intended to override existing obligations between parties to a transaction, such as those contained in the Contract of Sale.
• to be read sequentially therefore start at step 1 and work through the stages that are relevant to your role. 
• not intended to cover sub divisions.
• For any escalations relating to your transaction please contact the Financial Institution via their current settlement booking line. For members that are not Financial Institutions please use the Subscriber Search functionality in PEXA to obtain their contact details.  

NOTE: You can download a PDF of the Transfer Guidelines at the bottom of the article. 

UPDATE: May 2018 The Transfer Guidelines have been updated to align to changes proposed by the Industry Digital Transformation Working Group. Please refer to the post below the Guidelines for a summary of the changes. 

Transfers - Representing the Purchaser (all states)

From lodging Land Registry documents to completing settlements electronically, PEXA is a fast, safe and efficient digital solution. This step-by-step guide shows you how to complete a transfer when you're representing a purchaser. 

Note: A downloadable transfers help card is available to be downloaded at the bottom of this article - PEXA Transfers Help card. 

On this page you'll learn how to:

• Create a new transfer workspace
• Review land titles online
• Confirm representation of a party
• Invite participants
• Create supporting jurisdictional documents
• View and sign documents and lodgement instructions
• Complete and sign the Financial Settlement Schedule (FSS)

Watch the video below, to learn about completing a transfer with PEXA. The video guides you through the process of completing an electronic transfer in PEXA, when representing the purchaser. The video is applicable in VIC, NSW, QLD, WA & SA. 

Transfers - Representing the Vendor (all states)

From lodging Land Registry documents to completing settlements electronically, PEXA is a fast, safe and efficient digital solution. This step-by-step guide shows you how to complete a transfer when you're representing a vendor. 

Note: A downloadable transfers help card is available to be downloaded at the bottom of this article - PEXA Transfers Help card. 

On this page you'll learn how to:

• Create a new transfer workspace
• Review land titles online
• Confirm representation of a party
• Invite participants
• Create supporting jurisdictional documents
• Complete and sign the Financial Settlement Schedule (FSS)

Representing Multiple Parties - Video

Representing both a vendor and a purchaser in a transfer transaction in a single PEXA workspace?

Simply follow the steps outlined in the video and below to add the additional role, either Proprietor on Title or Incoming Proprietor. You can then switch between these roles to successfully complete the tasks assigned in the workspace. 

View Roles Assigned to a Workspace

Your Role assigned to a particular Workspace is displayed under Workspace Settings in the left navigation panel of your Workspace.

Edit Roles Assigned to a Workspace

You can change or add a Role from the Workspace Settings screen. 

1. Select Workspace Settings from the left navigation.
2. From the Role Settings section, select Edit.
   
3. Choose your new Role from the Role drop down list.
4. Select Add Role.
5. From the Actions cog menu, determine if this Role will be your Default role.

Result: Your new Role will display in the Role Settings section of the Workspace Settings screen. If this role is your default role, it will display under Workspace Settings in the left navigation panel.

Changing an incorrect role

If you have been assigned an incorrect role in a Workspace, follow the above steps to add the correct role. Then remove the incorrect role using Actions and then Remove.  

Related party Transfers (VIC)

This article presumes a general understanding of PEXA Workspaces, roles, and how to navigate in PEXA. If you do not have this background knowledge, we recommend you step through the PEXA Certified content available in the Community Transacting in PEXA.

This article will give you a general overview of how to complete a part-tenancy transfer in VIC. A part-tenancy transfer occurs when there are two or more proprietors on title and one proprietor is being taken off the title and at least one remaining on title. A common example of this, is the family law scenario, where both husband and wife are proprietors of a property and one party is transferring their interest to the other, pursuant to a property settlement.
Please note, you should contact your Land Registry and Office of State Revenue for questions around specific scenarios.

Scenario 1:

Margaret and Maxwell Black are Joint Tenants of 271 Ocean View Lane, Lorne.

A condition of their family law property settlement is that Maxwell transfers his interest in the property to Margaret. Margaret and Maxwell have authorised you to represent both of them in this transaction.

Steps:

1. Create the Workspace in the role of Proprietor on Title and include a settlement date and time.
   

   IMPORTANT NOTE: Even in scenarios where there is no monetary consideration, there still needs to be a financial settlement in PEXA for a related party transfer to account for Lodgement Fees, PEXA Fees, Duty and any other items, like your professional fees.

2. Check the Land Titles screen to ensure you have entered in the correct land title reference.
3. On the Participants screen confirm you represent both Margaret and Maxwell. Select the Action Cog next to each party, select Edit Party and complete the details.
   
4. If you are not representing both parties, invite the other Representative into the Workspace as the Proprietor on Title by clicking on the Invite Participant button. Sending or Accepting Invitations.
   
   
5. If there is a mortgage registered on title, you may need to invite the Mortgagee on Title into the Workspace. Follow the same steps as above.
6. If Margaret is signing a new mortgage, you will need to invite the Incoming Mortgagee (Bank who is providing the funds) into the Workspace as the Incoming Mortgagee. Follow the steps as above.
7. On the Documents screen create the Transfer document. Select Create Document > Transfer.
   
   When you get to the Tenancy Details, select which party is remaining on title as the sole Proprietor.
   
8. Check the following:
   • Consideration Type: Select monetary or non-monetary as applicable to your matter. 
   • Transaction Information – confirm the parties are related or associated at the date of the Transfer and then enter in the Market Value (mandatory) and Valuer details.
   • Complete the remaining details and select Save.
     
9. On the Documents screen, edit the Notice of Acquisition by using the action cog and selecting Edit. Complete the outstanding details.
   
10. If you represent the party remaining on title, complete your Stamp Duty Assessment.
    

    NOTE: if the title is unencumbered, you may need to create a Nomination Document if you are in control of the duplicate Certificate of Title. To do this, navigate to the Documents screen and select Create Document > Nomination.Create a Nomination VIC
    .
    If there is a Mortgagee on Title, they will complete this step.

11. If you are the Responsible Subscriber (also known as the Lodging Party), edit the Lodgement Instructions and complete any outstanding details. Select Save.
12. Once your documents have gone through Lodgement Verification the PEXA Fee, Land Registry Lodgement Fee and Stamp Duty (if any) will populate as Destination line items in the Financial Settlement Schedule.
    

    NOTE: you will only be charged one PEXA Fee if you are representing both parties in the Workspace.

    
13. Complete the Financial Settlement Schedule Preparing the Financial Settlement Schedule, sign off on all documents and the Financial Settlement Schedule in the usual manner Signing in PEXA.
    

    NOTE: If you are representing an additional party who is being added as a new Proprietor, you will need to create them in an additional role of Incoming Proprietor. To do this go to Workspace Settings >Edit Role Settings and add in the role of Incoming Proprietor.

For more information on acting in multiple roles, see the following Community articles:

Instructions on representing multiple roles in PEXA

Video on how to represent multiple roles in PEXA

Please note, you should contact your Land Registry and Office of State Revenue for questions around specific scenarios.

Related party Transfers (NSW/SA/WA)

This article presumes a general understanding of PEXA Workspaces, roles, and how to navigate in PEXA. If you do not have this background knowledge, we recommend you step through the PEXA Certified content available in the Community Transacting in PEXA

This article will give you a general overview of how to complete a transfer when there are two or more proprietors on title and one proprietor is being taken off the title and at least one remaining on title. A common example of this, is the family law scenario, where both husband and wife are proprietors of a property and one party is transferring their interest to the other pursuant to a property settlement.

Please note, you should contact your Land Registry and Office of State Revenue for questions around specific scenarios.

Scenario 1:

Margaret and Maxwell Black are Joint Tenants of 271 Ocean View Lane, Byron Bay/Port Douglas/Broome/Brighton.

A condition of their family law property settlement is that Maxwell transfers his interest in the property to Margaret. Margaret and Maxwell have authorised you to represent both of them in this transaction.

Steps:

1. Create the Workspace in the role of Proprietor on Title and include a settlement date and time.
   

   IMPORTANT: Even in scenarios where there is no monetary consideration, there still needs to be a financial settlement in PEXA for a related party transfer to account for Lodgement Fees, PEXA Fees, Duty and any other items, like your professional fees.

2. Check the Land Titles screen to ensure you have entered in the correct land title reference.
3. On the Participants screen confirm you represent both Margaret and Maxwell. Select the Action Cog next to each party, select Edit Party and complete the details.
   
4. If you are not representing both parties, invite the other Representative into the Workspace by clicking on the Invite Participant button. Sending or Accepting Invitations.
   
   
5. If there is a mortgage registered on title, you may need to invite the Mortgagee on Title into the Workspace. Follow the same steps as above.
6. If Margaret is signing a new mortgage, you will need to invite the Incoming Mortgagee (Bank who is providing the funds) into the Workspace as the Incoming Mortgagee. Follow the same steps as above.
7. If you are representing Margaret (the Proprietor remaining on title), you will need to create her in an additional role of Incoming Proprietor. To do this go to Workspace Settings >Edit Role Settings and add in the role of Incoming Proprietor.
   
   
8. For more information on acting in multiple roles, see the following Community articles:
   • Instructions on representing multiple roles in PEXA
   • Video on how to represent multiple roles in PEXA
9. Once you have added in the role of Incoming Proprietor, go to the Participants screen, select Create Party and add in the details of the party remaining on title.
   
   You can now complete the steps as the Incoming Proprietor.
10. Navigate to the Documents screen and create the Transfer Document.
    
11. Check the following:
    • Consideration Type: Ensure you select the correct Consideration Type (monetary or non-monetary.
    • Transaction Information – confirm the parties are related or associated at the date of the Transfer and then enter in the Market Value (mandatory) and Valuer Details as applicable.
    • Complete the remaining details and select Save.
    • Edit and complete any supporting Documents (NSW & QLD only).
      
12. Complete your stamp duty assessment and enter the relevant details into your PEXA Workspace. Stamp Duty in PEXA
    

    NOTE: Stamp/Transfer duty must be eligible for self-assessment in the online duties system in order for the transfer to settle electronically. Check with your State Revenue Office for eligibility criteria.

    
    

    NOTE: In NSW, if the title is unencumbered, you may need to create the CoRD Holder Consent via the Documents screen. If there is a Mortgagee on Title, they will complete this step. How to create the CoRD Consent.

    
    

    NOTE: In WA, if the title is unencumbered and your hold a paper title, edit the lodgement instructions and complete the Duplicate Holding Details.Duplicate Holding Details WA

    Once your documents have gone through Lodgement Verification the PEXA Fees, (one for each role) and Land Registry Lodgement Fees will populate as Destination line items in the Financial Settlement Schedule.
13. Complete the Financial Settlement Schedule Preparing the Financial Settlement Schedule and sign off on all documents in the usual manner Signing in PEXA.
    

    NOTE: If you are representing the party who is remaining on title, you will need to change roles and sign Documents and the Financial Settlement Schedule as both the Incoming Proprietor and Proprietor on Title individually. Refer to the link above on Acting in Multiple Roles.

    Please note, you should contact your Land Registry and Office of State Revenue for questions around specific scenarios. This may vary from jurisdiction to jurisdiction.

Part Tenancy Transfers - VIC

If there is a change in ownership on a property where at least one of the Proprietors on Title remain on title, you can lodge a Part Tenancy Transfer.

Example:
Bob and Andrew are joint tenants to a property and Bob has agreed to transfer his share to Andrew. Bob and Andrew lodge a Part Tenancy Transfer together to remove Bob’s name from the lease and transfer Bob’s portion of the tenancy to Andrew.

Lodging a Part Tenancy Transfer

1. Create a Workspace in the role of Proprietor on Title. Your workspace MUST contain a financial settlement date/time, even if it is a non-monetary transfer. 
2. Add all Proprietors on Title to the Workspace:
• Navigate to Participants
• Select the Action cog for the vendor/s, and make the selection of "I represent this party" 
• Enter the necessary details and save
3. Create a Transfer.
• Navigate to Document > Create Document > Transfer:

  All Proprietors on Title are listed as Transferors on the Transferor Details panel, .

• On the Tenancy Details panel, select the Tenancy type and the Proprietor on Title that will remain on title.
• Complete the Transfer as per your normal process and then Save the changes.
• Complete the Notice of Acquisition as per your normal process and then Save the changes.
4. Sign the Documents.

Transfer by Third Party (VIC)

Jurisdiction: VIC

A Transfer by Third Party (also known as a Transfer by Mortgagee) is a Transfer document type where the Registered Proprietor is not a party to the Transfer. Currently, this document type is limited to parties exercising their power of sale under the interest types of Mortgage or Annuity Charge.

Note: If you are acting for the Incoming Proprietor, then follow the steps in the Transfer Help Card for Representing the Incoming Proprietor.

To process a Transfer by Third Party, you are required to complete the following:

• Notice of Acquisition
• Stamp Duty verification
• Financial settlement

Note: A new role of To deal with an Interest has been created to allow subscribers to participate in PEXA where they are representing a party that is an interest of an Annuity Charge.

1. Create a Workspace with the role of either:
   • Mortgagee on Title—when the power of sale interest is a Mortgage, or
   • To deal with an Interest—when the power of sale interest is an Annuity Charge.
2. Review the Land Title.
3. Invite and represent Parties to the Workspace.
4. Create a Transfer by Third Party document:
   1. Navigate to Documents > Create Document > Transfer by Third Party.
   2. Complete the following fields on the Transfer by Third Party screen: 
      • Title
        Check that the Title is correct.
        
        
      • Under what interest is the Third Party exercising their power of sale?
        Select the Mortgage or Annuity Charge in which the Interest Holder is exercising power of sale.
        
        
      • Tenancy Details
        Select the Tenancy Type and Party.
        The Incoming Proprietor party(s) are populated as the Transferee. 
        
        
      • Gross Consideration Type
        Select a Consideration type and fill in the subsequent fields.
        
        
        
   3. Complete all other fields as required.
   4. Save the document.
5. If you hold a duplicate certificate of title, prepare the Nomination now, otherwise you can skip this step:
   • On the Document screen select Create Document>Nomination
   • Complete the details and select Save. 
   • View, Sign and Submit in the usual manner. 

   Note: If the title is an eCT and you are named as the CT Controller, no Nomination is required.

   Note: If a third party (e.g. a bank) holds the duplicate Certificate of Title or is named as the CT Controller of an eCT, you will need to invite them into the Workspace to prepare the Nomination.

6. Sign the documents.
7. Complete and sign the Financial Settlement Schedule.

Preparing the Financial Settlement Schedule

PEXA’s Financial Settlement Schedule (FSS) is a collaborative tool that contains electronic financial transaction directions for all source and destination line items. All payments are disbursed automatically at settlement, so you’ll no longer spend time waiting for cheques to clear.

On this page, you’ll learn how to:

• Enter destination and source line items.
• Enter extra details.
• Verify and authorise the source funds.
• Sign the Financial Settlement Schedule (FSS).
• Access extra financial settlement options.
• Understand the settlement process.

Preparing the Financial Settlement Schedule

The Financial Settlement Schedule (FSS) is completed by each participant prior to finalising a transfer in PEXA. The FSS should be completed once the following has occurred:

• Relevant documents have been prepared; and
• All financial adjustments have been agreed between the parties.

To complete the Financial Settlement Schedule, please refer to the below instructions. 

To enter in destination and source Line Items for the Incoming Proprietor and Proprietor on Title:

1. Navigate to Settlement on the left hand navigation. The Financial Settlement Schedule screen displays. The Settlement Summary tab displays summary information about the financial Sources and Destinations.
2. Click the Sources Tab and Destination Tab in turn to enter your financial line items. The Destination tab has been selected in the example below. 
3. Select Add Destination or Add Source from the right hand side (the screen above shows the Add Destination button because the Destination tab is selected).
4. Enter your Destination Line Items and click
5. The following table explains the field options that can be selected when creating Line Items in the financial Settlement Schedule.

Final Account Details (optional field) – for example, where a Financial Institution or practitioner is disbursing all funds to a single account they can then enter a ‘final’ account which shows the actual account that funds are to be disbursed to after settlement; (this would be a manual movement external to PEXA). 

• Land Registry fees are automatically added as a Line Item in the Destination Funds. These are collected by PEXA on behalf of the Land Registry and then passed on to the Land Registry.
• Each participant is charged a PEXA fee which will automatically be entered as Line Items in the Destination Tab.
• Unpaid Stamp Duty is automatically entered as a Line Item in the Destination Tab.
• On Saving you will be taken back to the Sources or Destination tab in the Financial Settlement Schedule. Notice that the financial Line Item is now displayed. You can edit or remove a Line Item at any time before settlement.
• Editing or removing a Line Item will cause the FSS to become Unsigned (if it had previously been Signed). In this case, communicate via PEXA Conversations ASAP.  PEXA will also send an email notification that the FSS has been Unsigned.

Underlying Account Details (source funds) and Final Account Details (destination funds)

These optional fields are relevant for practitioners representing financial institutions. Both are for informational purposes only and provide ability to include details which will appear on settlement reports.

This information does not drive any functionality in PEXA. It will appear in the financial Line Item details.

Underlying Account Details (optional field): For example, the source Financial Institution is providing loan funds and they want to record the actual loan account that the funds are coming from. 

Final Account Details (optional field): For example, where a Financial Institution or practitioner is disbursing all funds to a single account they can then enter a ‘final’ account which shows the actual account that funds are to be disbursed to after settlement; (this would be a manual movement external to PEXA). 

Continue to the next article to find out about Verifying and Authorising Source Funds. 

Completing the Getting Started with PEXA program? See whats next.

Now that you'know how the Financial Settlement Schedule operates, learn about how you can verify and authorise funds for settlement in the article Verifying and Authorising Source Funds.

Verify and Authorise Source Funds

On this page, you’ll learn how to:

• Verify and authorise the source funds.

For source funds, where a trust account is used, you need to Verify that the funds are in the trust account and will be in the trust account at settlement. A Payment Authoriser must Authorise PEXA to instruct the Financial Institution to draw these funds from the trust account at settlement. This must be done before you Sign the Financial Settlement Schedule.

To do this:

1. Select Verify Funds from the Actions cog for that Line Item.
2. Once Verified, select Authorise Funds to Authorise PEXA to send instructions to your Financial Institution to withdraw funds from the trust account.
   

   
   Note: Authorise Funds will bring up the Signing screen so it may be best to Authorise at the end of the process, when you are also signing the Financial Settlement Schedule, if you have permissions to both Authorise and Sign the FSS. 
   Note: The source Line Item status will not move to Ready status unless funds have been Verified and Authorised.

Signing the Financial Settlement Schedule (FSS)

To Sign the FSS:

1. Select Sign from the Actions cog as shown below.
   
2. You will notice in the example screen above that the Status is In Preparation. This suggests that the other participant to the transfer may need to complete their entries or they have not Signed yet.
3. Remember that any changes made to the FSS by another participant may automatically Unsign it and you will need to re-Sign. For example any Third Party Beneficiary Line Items entered by the other participant will Unsign the FSS as this type of Line Item needs to be viewed and signed by both the Vendor and Purchasers’ Representatives.

Financial Settlement Options

There are a number of additional settlement functions you can perform in PEXA. These are available in the Financial Settlement Schedule. The following describes each of the options. 

Maintain Settlement Values

This selection is optional and used for informational purposes only. Practitioners can enter information such as deposit amounts and the total adjustment amount. 

Mantain Settlement Date

You can accept or propose a new settlement date and time here. If the settlement date changes, the FSS will automatically Unsign and a notification email will be sent to alert all participants in the Workspace that a change has been made and that they need to review the change before re-Signing it.

A change in the settlement time will not Unsign the Settlement Schedule.

Override Lodgement

You can elect to override lodgement to ensure that the financial settlement of the Workspace would proceed in the event that PEXA cannot establish or maintain communications with the Land Registry.
If all source providing Subscribers have selected this option, settlement will continue meaning that funds will be exchanged and disbursements will occur.
PEXA will continue to retry lodgement.

Activity Identified in Title Activity Check (TAC)

When activity has occurred on the Title and identified at the final Title Activity Check (TAC) 1-hour prior to settlement, the incoming participants must re-enter the Workspace to provide their agreement to proceed with settlement.

Workspace Summary Screen

At this point, both the Workspace Status and the Financial Settlement Status should be at Ready and settlement will proceed at the settlement time and date as planned. 

Note:If the Workspace Summary shows a Prepared or In Preparation status, then you will need to troubleshoot and amend the problem to move the Workspace to ‘Ready’. Amendments may result in Unsigning of documents or the FSS therefore you may need to re-Sign them. 

Completing the Getting Started with PEXA program? See whats next.

Now that you've mastered completing a transfer electronically, learn about how you can complete linked settlements electronically by reading the article Linked Financial Settlement.

What happens at Settlement?

What happens at Settlement?

In order to complete financial settlement, PEXA electronically sends instructions, to payment integrated Financial Institutions involved in the transaction, as well as the RBA. As the funds are exchanged, confirmations are sent back to PEXA, which are then reflected in the Workspace Summary. The following provides an outline of the settlement process and the information provided in the Workspace Summary.

• Workspace must be in READY/READY status before settlement time.
• All documents must be Signed.
• Financial Settlement Schedule must be signed and balanced.

• At settlement time, the following happens:
  • The Workspace locks.
  • The Financial Settlement Status moves to Settling.
  • If a trust account is involved, a Source Funding instruction is sent to the bank.
  • Once Source Funding is complete, Reservation is sent to the RBA (runs every 2 minutes).

• Once an RBA Reservation is received:
  • Lodgement Request is sent to the Land Registry.
  • Lodgement status moves to Lodging.

• Once Lodgement is complete, the Lodgement status moves to Lodged.
  Note: The Land Registry will commence reviewing documents.

• Once Lodgement status is Lodged, Settlement Response is sent to the RBA (runs every 2 minutes).

• The RBA will send a response once the Settlement Request has been processed.
• When the Settlement Response has been received Financial Settlement status will move to Settled.

• Once Settlement at RBA is complete, disbursement will commence, Financial Settlement status moves to Disbursing. Disbursement batch runs every 10 minutes.

• When the Land Registry has completed reviewing the documents and has provided a final status for the documents (e.g. registered or rejected) the Lodgement status will move to Completed.
• When all banks involved in settlement have returned Disbursement responses, the Financial Settlement status will move to Disbursed.

Completing the Getting Started with PEXA program? See whats next.

Now that you've mastered completing a transfer electronically, learn about how you can complete linked settlements electronically by reading the article Linked Financial Settlement.

How to Complete a Simultaneous Settlement in PEXA

See the interactive simulation below or follow the instructions to create your own. 

You can download a printable Help Card at the bottom of this article.

Click "I'd like to try it myself"! Or to launch the tutorial in a new screen, click here.  

At least two Workspaces need to be created. 

Workspace 1: Preceding

The Proprietors on Title are selling their property and using these funds in the purchase of their new property.

Workspace 2: Trailing

The Incoming Proprietors (Purchasers) are using money from the sale of their property to help fund the purchase of their new property. 

The link can be created in either Workspace. Once either one of these are created, a link request is sent to link the selected Workspaces. Upon acceptance within the Workspace to be linked, PEXA automatically creates a linked Line Item in the Financial Settlement Schedule.  

Note: Calculations (i.e. the amount of funds that are required from the preceding Workspace to fund the Trailing Workspace), is completed outside of PEXA.

How to Complete a Linked Settlement in PEXA

Please note: You can download a Linked Settlement Help Card at the bottom of this article.

Complete the financial settlement schedule - destinations

To create a linked destination Line Item in PEXA, complete the steps below in the Preceding Workspace:

1. Navigate to the Destination tab in the Financial Settlement Schedule for the selected Workspace.
2. Click Add Destination.
3. In the Category field select Linked Financial Settlement.
4. In the Linked Settlement Type field select Simultaneous or Sequential.
5. Click Select Trailing Workspace.
   
   
6. Select the relevant Workspace for linked Financial Settlement Schedule screen.
   (You can search for the Workspace using the Subscriber Reference or Party Name)

   Note: A message is displayed if the Settlement date and time is not aligned for the relevant settlements. The link can be saved, but please ensure that the settlement date and time is updated to align.
   
   

7. Type in the amount for the destination linked account (this is the amount that will be linked to the Trailing account and used as Source Funds).
   

Sequential Settlement Interim Disbursement Account (Linked Sequential Settlements only)

When a linked destination Line Item is created for sequential settlement, the subscriber user must nominate an interim account for funds to be disbursed, in the event that the trailing Workspace fails settlement but the preceding Workspace completes settlement.

1. Select the Account. This is the account that will receive the disbursement linked funds in the event of lodgement or settlement failure of the trailing Workspace.
2. Type in a transaction description. This appears on the destination account statement if funds are disbursed to this account.
3. Check the tick box Proceed with Financial Settlement for this Workspace in the event the trailing Workspace is unable to be processed due to end of day cut-off.
4. Click Save. 
   The Linked Financial Settlement Line Item is created and added to the Destinations tab.
   
   

   An extra tab is now visible in the Financial Settlement Schedule for the Linked Financial Settlement and until the linked has been accepted the Link Status will show Link Requested.
   
   

Accepting a linked financial settlement in the trailing workspace

To view all details pertaining to a Workspace with linked Financial Settlement:

1. Navigate to the linked Workspace. You will notice an outstanding task to Accept or Decline Link Request in the Workspace Summary.
2. Click Accept or Decline Link Request.
   The following screen displays all details for the linked Financial Settlement Workspaces. 
   
   

3. The associated Workspaces are displayed according to their relationship to the current Workspace that you are in. Details for each linked Financial Settlement includes your Subscriber reference for the Workspace and the Workspace status. 

4. All new link requests are displayed on this screen and you can choose to Accept or Decline. Click Accept.
   If you Accept the request: A Source Financial Line item will be added to the Financial Settlement schedule and will Unsign any previous Signings.
   Note: Your Workspace will no longer be ready to proceed with Financial Settlement. 
   If you Decline the request: Provide a reason for it in the space provided and click Confirm.
   Note: The Linked Financial Line will be removed from the proceeding Workspace. A notification will be sent to the subscribers in the preceding Workspace with the reason.  

5. Navigate to the Sources tab. You will notice that the Source funds have now been populated, based on the link set up in the preceding Workspace.
   
   Note: All Workspaces involved in a Linked Financial Settlement must be at a READY -READY status for settlement to commence for the first Workspace. You can see the status of each Workspace in the link on this screen.  
6. If Settlement Date and Time are not aligned correctly, you will not move in to READY status until this has been addressed. A task appears in the Workspace Summary to remind you. 
   

Watch the video on "Linking workspaces for a Simultaneous Settlement" - 2 Minutes 

Additional Articles

How to stop a financial settlement?

Key points for linked settlements

What is the difference between Simultaneous and Sequential Settlement in PEXA?

Linked Sequential Financial Settlement

You can link up to three Workspaces together in PEXA, allowing you to easily complete a linked sequential settlement. This page will give you an overview of how to complete a Sequential Financial Settlement using PEXA.

You’ll learn:

• Key terms
• Rules
• About source and destination accounts
• About other settlement scenarios
• How to stop a settlement

You can download a printable Help Card at the bottom of this article.

Key Terms

Sequential Financial Settlement:

• Where one Workspace is settling after another, and is dependent on the successful settlement of the preceding workspace. If the preceding settlement fails, the subsequent settlements cannot proceed.
  Note: For information on simultaneous financial settlement, see this article.

Preceding Workspace:

• The first Workspace to settle in a sequential financial settlement. For example, if there are three Workspaces involved, the first Workspace is the preceding Workspace of the second Workspace.
• The second Workspace is the preceding Workspace of the third Workspace.

Trailing Workspace:

• The second or subsequent Workspace to settle in a sequential financial settlement.

Interim Account:

• When a linked destination line item is created for sequential settlement, the subscriber user must nominate an interim account for funds to be disbursed, in the event that the trailing workspace fails settlement but the preceding Workspace completes settlement.
• In the event that funds are disbursed to this interim account, you must then manually add a new source line item in the trailing Workspace and verify that the funds are available for this trailing Workspace. 

Rules – Sequential Settlement

The following key rules/requirements have been applied for Linked Sequential Settlement:

• Only a maximum of three financial settlements can be linked for sequential settlement.
• A user can only create a linked financial settlement if the subscriber belongs to both Workspaces.
• Financial settlement can only be executed for a trailing workspace if the preceding Workspace has been lodged and settled.
• If the financial settlement for a trailing workspace fails, the preceding Workspace is not impacted (i.e. it remains as Settled and Lodged)*.
  *Funds disbursed to the interim account nominated
• Workspaces that are linked for the purposes of sequential settlement cannot have the same settlement time.
• Workspaces that are linked for the purposes of sequential settlement can be in different jurisdictions.
• A linked financial line item must have an amount greater than $0.

Linked Settlement – Source and Destination Accounts

Please note: You can download a Linked Settlement Help Card at the bottom of this article.

Add Linked Destination Financial Line Item in Preceding Workspace

1. Navigate to the Financial Settlement screen for the selected workspace.
2. Select the Destination tab.
3. 
4. Click Add Destination.
5. In the Account Category field select Linked Financial Settlement.
6. The Linked Settlement type defaults to Sequential. This cannot be changed. 
   Note: Simultaneous settlement is not available in this release. This means that linked settlement Workspaces cannot have exactly the same date and time. There must be at least one hour difference between the preceding and the trailing Workspace.
7. Select Trailing Workspace. Select Workspace for Linked Financial Settlement screen.
8. Search for the Trailing Workspace using the Subscriber Reference or Party Name.
9. Select the correct Workspace.
10. Click [Select].Enter the amount for the destination linked account, This is the amount that will be linked to the Trailing account.

Sequential Settlement Interim Disbursement Account

1. Please select the financial account to receive the disbursement linked funds in the event of lodgement or settlement failure of the trailing Workspace.
2. Enter a Transaction description. This appears on the destination account statement if funds are disbursed to this account.
3. Select the checkbox if you wish to precede with Settlement in the event that the trailing Workspace fails due to end of day cut off.
4. Click Save.
   Result: The Linked Financial Settlement line item is created and added to the Destinations list screen.

Add Linked Source Financial Line Item in Trailing workspace

1. Navigate to the Financial Settlement screen for the selected workspace.
2. Select the Sources tab.
3. Click Add Source.
4. Select the Linked Financial Settlement account Category. The Linked Settlement type defaults to Sequential. This cannot be changed.
   Note: Simultaneous settlement is not available in this release. This means that linked settlement workspaces cannot have exactly the same date and time. There must be at least one hour difference between the preceding and the trailing workspace.
5. Click Select Preceding Workspace. 
6. Search for the Preceding Workspace using the Subscriber Reference or Party Name.
7. Select the correct Workspace.
8. Click [Select].
9. Select the Source Amount.
10. Click Save.

Linked Financial Settlement Tab

You can view all the details pertaining to workspaces with linked financial settlement view the Linked Financial Settlement tab.

1. Navigate to the Settlement screen for the selected workspace.
2. Select the Linked Financial Settlement tab.

All details for linked financial settlement workspaces are displayed here. The associated workspaces are displayed according to their relationship to the current workspace:

• Preceding Workspaces
• Current Workspace
• Trailing Workspaces

Details for each linked financial settlement includes your Subscriber reference for the workspace and the Workspace status. All new link requests are displayed on this screen.

Accept or Decline Link Requests

1. Click Accept. 
2. Click Yes to accept the link request and un-sign the settlement schedule if it has already been signed.

Decline Link Requests

1. Click Decline to decline the link.
2. Enter a reason for declining the link request.
3. Click Confirm to decline the link request.

Other Settlement Scenarios

The below settlement examples can all be performed in a single workspace and have no specific requirement to link financial settlements.

Scenario A: Multiple titles purchased by same party and under the same mortgage.

Jenny is purchasing multiple properties at the same time, where both titles will be under a single mortgage.
This transaction can be performed in a single workspace in PEXA
Document transaction type is Discharge, Discharge, Transfer, and Mortgage (DDTM)

Scenario B: Vendor selling multiple titles that are currently under the same mortgage

Jenny is selling multiple properties at the same time, where both titles are currently under a single mortgage. This transaction can be performed in a single workspace in PEXA. Document transaction type is Discharge, Transfer, Transfer, Mortgage, and Mortgage (DTTMM)

Scenario C: Refinance to another bank with the new mortgage covering the purchase of a second property

Jenny currently holds a mortgage with Flinders Bank over Property A, but is refinancing to Coral Bank. She is taking out additional funds from the refinance (using the same mortgage) with Coral Bank to purchase Property B from Bob.
This transaction can be completed in a single workspaces based on current design.
The transaction type is a Discharge, Discharge, Transfer, and Mortgage (DDTM)

Scenario D: Existing loan expanded to purchase an additional property

Jenny currently holds a mortgage with Flinders Bank over Property A, and is topping up her loan to be able to purchase Property B from Bob. This transaction can be performed in a single workspace in PEXA.
Document transaction type is a Discharge, Transfer, Mortgage (DTM)

Stop Settlement with Linked Settlements

You can stop financial settlement for a specific workspace, even a trailing workspace, at any time, via the Financial Settlement Schedule Summary screen.

1. Navigate to the Financial Settlement screen for the selected workspace.
2. Select the action cog and then Stop Settlement.
3. Enter a Reason for stopping financial settlement.
4. Click Confirm.

Note:

• This actions un-signs the Settlement Statement for all subscribers involved in Financial Settlement.
• And removes settlement date and time from the workspace.

The Settlement Date and Time must be reselected and all participants must re-sign their Settlement Statement to reinstate Financial Settlement for the Workspace.

If the Workspace that is stopped is a trailing Workspace, and the preceding Workspace has already started settling, the preceding Workspace will continue with settlement execution.

Now that you understand Linked Financial Settlements, find out how to prepare a Transfer Workspace before a Plan of Subdivision is registered.

PEXA v Paper Transfers - Representing the Vendor

Learning a new skill can sometimes take a little work, but once you’ve mastered the art of e-conveyancing you’ll never look back. Completing transactions online through PEXA will help increase efficiency within your business and reduce the risk of errors that could delay settlement.

Here you’ll learn what to expect when completing a transfer electronically as a vendor’s representative. 

Learn what to expect when transacting electronically in each jurisdiction by clicking on the links below.

• Victoria
• QLD
• WA

Completing the Getting Started with PEXA program? See whats next.

Now you know all about completing an electronic transfer when representing the vendor, learn about what you will experience when you're completing a transfer representing the purchaser, view the article Transacting in PEXA - Representing the Purchaser.

PEXA v Paper Transfers - Representing the Purchaser

By completing conveyancing transactions online, you can increase efficiencies, improve your clients’ purchasing experience and reduce the risk of errors which could delay settlement.

Here you’ll learn what to expect when completing a transfer electronically as a purchaser’s representative. 

Learn what to expect when transacting electronically in each jurisdiction, by clicking on the links below:

• Victoria
• QLD
• WA

Completing the Getting Started with PEXA program? See whats next.

Now that you understand how electronic transfers compare to manual transfers, take a look at the article Preparing the Financial Settlement Schedule.

Transacting in PEXA Checkpoint

Now that you’ve learned how to lodge Land Registry documents and complete financial settlement in PEXA, finish the learning checkpoint to earn your Transacting in PEXA badge. Not yet a member of the Community? Register and login to the Community to receive your badge.