The Source tab is used to indicate the financial accounts providing funds for the settlement of the property transaction.
The Sources account list screen allows you to view the source financial line items that will provide funds required for financial settlement. Subscribers that provide funds for Financial Settlement will Add Source Financial Line Items based on calculations performed outside of the PEXA System.
For Source Financial Line Items, all Subscribers must provide their verification that funds are made available for Financial Settlement in order to progress the Settlement Schedule Status.
Furthermore, for Subscribers providing funds via a Practitioner Trust Account, Subscriber Users must also provide their Authorisation to debit funds from their Trust Account into their Transaction Bank’s Clearing Account for the purposes of Financial Settlement for the Workspace.
Adding Source Account details
The incoming parties for the transaction are required to complete the source fund details. A line item is added for each different source account. Category types for each line item help identify the type of account and the amount coming from that account.
Trust Account Authorisation
Practitioners must authorise a Source Financial Line Item where funds are provided from a practitioner’s trust account.
Each trust account source fund line item must be authorised before settlement. Authorisation is your confirmation that the funds will be made available for the financial settlement of the workspace.
Trust Account Authorisation Record
When a signer authorises a trust source financial line item, a Trust Account Authorisation Record is created. You have the ability to access the Trust Account Authorisation before and after settlement as documentary evidence of the transaction performed for the relevant trust account source line item.
To access this record: • Navigate to Settlement; • Click on the Sources Tab; • From the Action Cog next to the relevant line item, select View Authorisation Record;
• You can now enter these details into your Trust Accounting Software.
Note: PEXA has consulted with trust account regulators in all active jurisdictions and has provided information about PEXA financial settlements and the records produced by PEXA. Each regulator has reviewed the records produced by PEXA in the context of the applicable trust account obligations in their jurisdiction. The combination of your client file and instructions, the Trust Account Authorisation Record (where applicable) and the Settlement Completion Record are all components of record keeping for a PEXA transaction.
Dual Authorisation Your administrator can setup dual authorisation for source funds if required. This ensures that two signatures are required in order to authorise a source fund line item.
Navigate to the Financial Settlement screen for the selected workspace.
Select the Sources tab.
Review the existing source line item details. Various actions are available via the actions button, including:
Authorise Funds (Trust accounts)
Remove Authorisation (Trust accounts)
View Authorisation Record (Trust accounts)
Fund Status displays a line item status of Ready or Not Ready based on whether the item has been verified.
The Owner field displays the participant who is responsible for the line item.
Select the down-arrow alongside the appropriate the line item to expand and display summary details.
Add a Source Financial Line Item
Navigate to the Financial Settlement screen for the selected workspace.
Select the Sources tab.
Click Add Source.
Select the appropriate source account Category from the drop down list. This will depend on your role in the workspace.
First Home Owner's Grant
Funds for Stamp Duty
Linked Financial Settlement
Vendor to Pay
Select the Source Account. The Account Name defaults based on what has been completed by your PEXA Administrator.
BSB and Account number defaults for the selected Source Account.
Enter the Source Amount in AUD.
Enter the Client’s name to identify the person(s) that have provided funds.
Enter a Transaction description to help identify this line item on your account statement.
Result: The Financial Source line item is created and added to the Source list screen.
Add an Underlying Account (Optional)
You have the optional ability to add underlying account details to help with reconciliation.
When on the Add Source Financial Line Item screen, enter Account Name, BSB and Account number of the underlying account, for example, the client’s underlying account held at the Financial institution.
Linked Financial Line Items There is an ability to add a Linked Source Financial Line Item. Linked financial settlement is where two or more workspaces are associated in PEXA for the purposes of simultaneous financial settlement. Simultaneous Financial Settlement Where two workspaces must settle at the same time. If either settlement fails, both settlements cannot be completed and must be rolled back.
Preceding Workspace The first workspace to settle in a simultaneous 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 simultaneous financial settlement.
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Financial Settlement is conducted in PEXA for transfer of property ownership or mortgage refinance scenarios. The source financial institution will transfer the funds to the destination or beneficiary financial institution, after the successful lodgement of property instruments with the Land Registry Office.
A Workspace is created in PEXA for every property transaction. Where financial settlement is required, the Workspace specifies the date and time of settlement and contains a Financial Settlement Schedule detailing where the funds are coming from and where the funds are going to.
The Settlement Schedule must balance, the source financial line items must be verified and all documents linked to the financial settlement must be signed by all Subscribers. If this does not occur (e.g. the Mortgagee on Title does not sign the Financial Settlement Statement), then the settlement cannot occur.
Changes to the settlement date triggers lodgement verification to confirm that the lodgement fees have not changed. Changes to the settlement time without a date change, does not trigger lodgement verification.
At the scheduled settlement date and time, the Workspace will be locked and the relevant documents submitted for lodgement. Once lodgement is successful, PEXA informs all the relevant financial institutions to disburse the funds from and to their nominated accounts as per the financial settlement schedule. When PEXA receives confirmation that the Financial Institutions can process the payments to the destination banks, PEXA considers the settlement complete. A notification is sent to all participants in the Workspace, informing them of successful settlement completion.
Financial Settlement Schedule
Financial Settlement Summary displays an overview of the financial details of the Workspace and allows you to view the difference between source and destination amounts.
Once the Subscriber has created the new Workspace, the financial settlement schedule details are entered, as per the example above. The Financial Settlement Schedule screen contains several tabs where you can select the Source and Destination tabs to enter account details and settlement amounts. The ability to enter source or destination line item information will depend on the role that the subscriber is participating in.
All documentation associated with the Financial Settlement Schedule (i.e. the financial settlement statement and lodgement documents) are digitally authorised by the Subscribers prior to settlement.
For Settlement to occur, the Workspace must hold the status of “Ready.”
A “Ready” status indicates that:
All property instruments have been signed.
The Financial Settlement Statement is signed.
The Financial Settlement Schedule is balanced (i.e. total source amount equals the total destination amount).
All source financial line items have been verified.
Where there are source line items using a Trust Account, these line items must ALSO be authorised by the subscriber before the workspace can move to ‘Ready’.
Title Activity Check
One hour before the scheduled settlement time, PEXA will automatically perform a Title Activity Check for all workspaces that are due to settle in the next hour. This is to ensure that there has been no activity on the title since the last Lodgement Verification. If activity is identified as a result of the TAC, a lodgement verification is performed. If there has been no activity on the title then the workspace remains in ‘Ready’.
For a positive TAC, all incoming parties must agree to continue with settlement, otherwise settlement will continually shift to the next 1.5 hour.
For more details on Title Activity Checks, please refer to Title Activity Checks.
When the scheduled settlement date and time arrives, PEXA automatically locks the Workspace and initiates the settlement process. No further changes are permitted during the settlement process.
Workspaces due for settlement that are not at the “Ready” status are rescheduled to the next settlement time i.e. one and a half hours from the current scheduled time, up to the end of the day day.
If settlement fails in the last settlement run of the day, PEXA automatically removes the settlement date and time from the settlement schedule which results in the automatic un-signing of the settlement statement for all Subscribers. In addition the Workspace and settlement status are updated to “In Preparation” and all Subscribers are notified of the settlement failure and the reason.
The Workspace is unlocked to allow participants to finalise details and reschedule settlement for another date and time.
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When there has been an update of the proposed Settlement date and/or time, notifications are issued to all affected participants. Once a settlement date and time is proposed, all Participants in the workspace, except those acting in the role of Consentor, CT Controller or Caveator on Title, must affirm their acceptance of the proposed settlement date and time or propose an alternative. All participants in the workspace are able to see the acceptances of other participants.
Important Note: The acceptance of the proposed settlement date and time is a pre-requisite for the lodgement case linked to Financial Settlement to proceed to a status of Ready.
Workspace Summary, My Subscriber Outstanding Tasks
A task is generated for all affected participants indicating that acceptance of the proposed Settlement Date and Time is required.
Click on the Accept or Propose New Settlement Date and Time in the My Subscriber Outstanding Tasks.
Review the Proposed Settlement Date and Time.
Select Accept or Propose new date and time, and then click Save.
Select the Settlement tab on the left hand navigation panel, review the details of the settlement date and time, and choose either Accept Settlement Date or Change Settlement Date.
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As a Workspace is processed, from creation, through to document preparation, to settlement and lodgement, its status will change.
Workspace Status Indicator
The Workspace Lodgement Status Indicator is displayed at the top of your PEXA Workspace Summary screen and helps you quickly identify where in the process the Workspace resides and what additional steps remain. If a Workspace includes financial settlement, a Financial Settlement Status Indicator also appears.
Lodgement Status Indicator
In Preparation = The Workspace has been created
Prepared = Document/s have been prepared. Waiting to be signed.
Ready = Lodgement verification is successful. All documents have been signed.
Lodging = Workspace is in the process of Lodging with your Land Registry.
Lodged = All documents are lodged with your Land Registry.
Complete = Lodgement is complete.
Financial Settlement Status Indicator
In Preparation = Workspace contains Financial Settlement and the Settlement schedule has been prepared.
Signed = The Financial Settlement Schedule is balanced. The Financial Settlement Schedule has been signed.
Ready = All source funds have been verified.
Settling = Settlement date and time has arrived. Financial Settlement is processing.
Settled = Financial Settlement is complete
Disbursing = Source funds are processing.
Disbursed = Funds have been disbursed.
The Lodgement Status of a Workspace reverts back to Prepared when: • A document in the Workspace is unsigned.
The Lodgement Status of a Workspace reverts back to In Preparation when: • Data is changed in a document. • A document in the Workspace has been deleted.
The Settlement Status of a Workspace reverts back to In Preparation when: • The Settlement Schedule is unsigned. • The Settlement Date is changed.
On Lodgement, status notifications are returned by your Land Registry for each of the documents in your workspace.
Below is a list of status values by jurisdiction to help explain how your land registry is processing your lodgement.
The action for the lodged document has been finalised by the Land Registry (Lodgement Case)
The lodged Registry Instrument has been registered (Lodgement Case )
The lodged Registry Instrument has been rejected due to a requisition which has not been satisfied within the specified time granted (Lodgement Case)
The lodged Registry Instrument was not required but kept as evidence or for historical purposes (Lodgement Case) UNREGISTERED
The lodged Registry Instrument has not been registered, rejected, withdrawn, or made un-necessary (Lodgement Case) WITHDRAWN
The lodged Registry Instrument has been withdrawn from registration (Lodgement Case)
Dealing which is lodged and has a requisition issued. (Lodgement Case, TAC)
ASSOC UNREGISTERED ABEYANCE
A dealing which is lodged and is associated with a dealing under requisition and cannot be processed until the requisition is dealt with. (Lodgement Case, TAC)
An Administrative Advice i.e. Settlement Notice which has been lodged and now current on title. (Lodgement Case, TAC)
A dealing which has been withdrawn from the registry prior to being registered.(Lodgement Case)
A dealing which has not had a requisition answered within the required time and has been rejected out of the registry. (Lodgement Case)
A dealing which has been removed from the registry prior to being registered. (Lodgement Case)
A registered dealing on title which is current i.e. Mortgage or Caveat. (Lodgement Case, TAC)
A dealing which is lodged and awaiting processing. (Lodgement Case, TAC)
A dealing which is lodged and awaiting processing. (Lodgement Case, TAC)
WITHDRAWN AND RE-ENTERED
A dealing which is lodged and has been withdrawn and re-entered into the registry (a new dealing number will be allocated to this dealing). (Lodgement Case, TAC)
Dealings have not been accepted for lodgement and appropriate errors to explain why would be available. (Lodgement Case)
Dealings have been accepted for lodgement and will be processed by requisition (if required) or registration either automatically or manually in due course. (Lodgement Case)
Dealings have been processed by being withdrawn or registered. (Lodgement Case)
A document that has been presented for the Registration Process at an approved Registry site. (Lodgement Case)
A document that has been processed (completed the Registration Process) by the Registry (Lodgement Case)
A document that has been rejected from the Registration Process as directed by the Registrar of Titles. (Lodgement Case)
A document that has been removed from the Registration Process via a successful request from an authorised party. (Lodgement Case)
The acceptance of a dealing/s for registration or recording. (Lodgement Case)
The recording of a dealing/s in the titles register. (Document)
A dealing removed from the land registry by the controlling party prior to registration. (Document)
A dealing accepted for lodgement and subsequently found to be deficient in some way and returned to the controlling party. (Document)
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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).
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.
Select Workspace Settings from the left navigation.
From the Role Settings section, select Edit.
Choose your new Role from the Role drop down list.
Select Add Role.
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.
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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
Click Create New Workspace on the left navigation panel.
Confirm the Jurisdiction for the Workspace is correct. Note: Your jurisdiction defaults from your user preference settings.
Select a Representative role. The Representative Role will be your role for this Workspace.
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.
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”.
If the Workspace contains Financial Settlement: Select Yes to Financial Settlement Required? Enter a Financial settlement date. Enter a Financial settlement time.
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.
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.
Select a Workgroup. The Workgroup is the team you wish to assign this new Workspace to. Every Workspace requires at least one Workgroup.
Result: The Workspace Summary Screen is displayed, and the Participants can now be added to participate in the property transaction.
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The PEXA workspace allows multiple participants and parties to be involved in a property transaction. Both participants and parties are displayed in the Participants screen.
Participants are subscribers of PEXA. All participants in a property transaction are listed in the Participants screen for your workspace.
Depending on your role and the type of property transaction, you may be sending or receiving invitations to join a workspace in PEXA. For more information on how to send or accept an invite, see here.
The Participants screen allows you to create new invitations to send to other members. If the Participant is not an existing PEXA member, you can Invite them to Connect.
Parties are people or organisations that are referenced in the property transaction. Parties of a property transaction could include: • Purchaser of land • Seller of the land • Incoming Caveator • Caveator on Title
For more information, please refer to the Parties article.
Default Party Details
When a land title is added to the workspace, and verified with your land registry, any existing parties on title are displayed for you automatically on the Participants screen.
Parties that are represented in the property transaction are displayed under the participant’s title in the Participant screen.
Any parties listed on the title, but not be represented by a subscriber in this particular property transaction, are listed under the Unrepresented Parties heading.
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The Documents screen in PEXA is where you create, view, edit and sign all your documents for a selected Workspace.
Documents in PEXA include:
Withdrawal of Nominations
Withdrawal of Caveats
Document Summary view
To view more information about each Document, click on the Document row and a summary will display.
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A Title Activity Check (TAC) is an automated check between PEXA and your Land Registry for any activity on a Land Title in your Workspace. An activity is any registry activity for the title. This includes both Lodgement and Registration activities and includes all types of transactions including Notices, such as a conversion of a title from Paper to eCT.
For example, a caveat has been Lodged against the Land Title or the title is Nominated to a Lodgement Case.
When a Title Activity Check is executed, if there has been any activity on the Land Title, PEXA notifies the Workspace participants with a Positive TAC.
PEXA automatically schedules Title Activity Checks for all Workspaces that contain financial settlement.
When you select a Parent title workspace, Title Activity Checks will only be available when the child title is added into the Workspace.
Automated Title Activity Check
PEXA runs automated Title Activity Checks. These are scheduled:
When the title is first added to the workspace; details of any recent activities are returned with the title information. This is a list of any activities 60 days prior to the date the title is added to the workspace.
On settlement day, within one hour prior to the time of Scheduled Settlement.
One week from settlement, every business day including public holidays across all jurisdictions. The automatic batch checks the land title activity within all “unlocked” Workspaces that have a settlement date of fewer than seven days from the current date.
Weekly when settlement is over 8 days away. This batch runs checks the land title activity within all “unlocked” Workspaces that have a settlement date of eight to thirty days from the current date.
The batch also runs daily at 3:30am
Note: Workspaces that hold the status of Lodged or Abandoned are not checked as part of the automated (TAC) processes.
Manual Land Title Activity Check
You can initiate a manual title activity check from the Land Titles screen of a Workspace at any time.
The automated Title Activity Check (TAC) schedules continue to run regardless of whether a manual TAC has been initiated by the user.
Manual TAC’s are not available in workspaces that do not include Financial Settlement and are created in the roles of:
Mortgagee on Title
Caveator on Title
Note: No fees are incurred for a manual Title Activity Check. For workspaces that are eligible, you are entitled to unlimited manual Title Activity Checks.
A negative response from the Land Registry indicates there has been no activity on the land title and displays as Negative in the title activity indicator. No further action is initiated.
A positive response indicates there has been activity on the land title since the last Title Activity Check. Positive displays in the title activity indicator and automatically generates a notification to the participants in the Workspace.
Note: Click View Details against the Last positive TAC to display additional TAC result information.
Positive Title Activity Check 55 Minutes before Settlement
Automated title activity checks run one week before settlement, a day before settlement and in the hour before settlement. Workspaces that are Not Ready at the scheduled settlement time is automatically rescheduled by 30 minutes. PEXA will allow a Workspace to automatically reschedule up until 5:00 PM AEDT. Any Workspaces that remain Not Ready at 5:00 PM AEDT will have its settlement date and time removed and a new date and time will need to be proposed.
Due to the time-sensitive nature of the final activity check 55 minutes before settlement, a positive result indicating a change on title must be acknowledged by the incoming participants of the Workspace.
Title Activity Checks (TAC) Intervals Note: To avoid any conflict with settlement batch runs, TAC checks are scheduled to run in 30-minute intervals starting at 8.35am.
In the event of a positive TAC 55 minutes before settlement:
A notification is issued to all members of the workspace
The positive TAC must be acknowledged by Incoming participants in order to proceed with settlement
The Incoming participants in the workspace (Incoming Proprietor, Incoming Mortgagee, and Incoming Caveator) have the ability to acknowledge the TAC and proceed with settlement. This is done via the Financial Settlement Summary screen and then Proceed with Settlement button.
Proceed with Settlement:
If all required acknowledgements to proceed with settlement are received before the allocated settlement time, the settlement proceeds.
If all required acknowledgements are not received, settlement is automatically pushed out by 30 minutes.
The settlement time continues to be pushed out by 30 minutes until the original positive TAC is acknowledged.
If 5pm is reached and the positive TAC results remain unacknowledged, settlement date and time are removed from the workspace. A new settlement date and time must be selected.
TAC – Technical Error
In the unlikely event that PEXA receives a technical error as a result of the title activity check, the error status is displayed to all participants of the workspace. Notifications are sent via email and displayed on the Workspace Summary screen.
Perform a Manual Title Activity Check Participants can navigate to the Land Titles screen and run a manual title activity check. If successful, and results are returned confirming no change to the title, then settlement can proceed.
Accept to Proceed If a manual check is either not performed or still returns a technical error, then Incoming parties must accept to proceed with settlement. If all required acknowledgements are not received, settlement is automatically pushed out by 30 minutes.
WA – Title Activity Check Window
In WA, all checks for activity against a title, including the automated (Final TAC) check 1 hr prior to settlement, check for any activity on title, beginning from when the workspace was first created, minus 60 days, right up to the current time.
A positive TAC is displayed only for new activities on the land title that has not been previously returned. This ensures that incoming parties are not having to repeatedly provide approval for activities that were previously approved.
On the day of settlement, if a positive TAC is returned, the incoming parties will only need to ‘confirm settlement execution’ if a new title activity has been returned from the Land Registry for the first time. All subsequent TAC responses received for the same activity will be displayed as no activity against the Land Title. This behaviour now aligns with all other jurisdictions.
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The Workspace Fee Schedule screen displays a list of fees incurred for the selected Workspace.
PEXA Service Fees
PEXA Service Fees are fees charged for the use of the PEXA application in processing your electronic property exchange.
Lodgement Fees are charged by Land Registries when documents are lodged. These fees will be provided by the Land Registries when Lodgement Verification is performed.
Fees are incurred when the Workspace moves to Lodged status or when settlement is involved, Settling & Lodged status.
The Payment accounts for your fees are setup when you first register with PEXA and maintained by your Subscriber Administrator.
Fee Schedule Queries
Please post your question below or in the Ask a Question forum.
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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
Click View to open the selected Workspace.
Navigate to the Participants screen.
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.
When you are the only participant in the workspace, a callout advises you that the workspace will be abandoned. Click Confirm.
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Workgroups are teams of users or an individual assigned tasks to complete in PEXA. By allocating a Workspace to a Workgroup, you assign responsibility for the completion of some tasks in the Workspace to the Workgroup.
Workspaces are allocated to Workgroups at the time of creation but the Workspace can be assigned to additional Workgroups or re-assigned or removed from Workgroups at anytime.
Note: A Workspace can only be removed from a Workgroup when you hold the appropriate access.
Allocate Workspace to Workgroup
From Your Dashboard, find the appropriate Workspace and select View to open it.
Select Workspace Settings from the left navigation panel.
Scroll down to the Allocate Workspace to Workgroup section and check the current Workgroup allocation.
To add another Workgroup, select Edit.
Start typing the Workgroup name or select the Workgroup from the list.
Select the Allocate to Workgroup button.
Result: The Workgroup allocation section will now display the existing and the new Workgroup.
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A Notification is an alert informing you of changes in a Workspace. PEXA has automatic checks to ensure that you are kept up-to-date with any changes to a Workspace. You can view Notifications in PEXA via by opening your Workspace Summary screen and selecting Notifications in the left hand navigation panel.
The Notifications Screen lists all alerts for a Workspace. There are three types of Notifications:
Information: Provides notification of tasks, activities or conversations happening in your PEXA Workspaces. Includes date and time of the notification. For example: Flinders Bank has invited you to participate in a PEXA Workspace.
Warning: Notification of a change in the system that may impact your Workspace and your ability to lodge your documents. For example: Financial Settlement Date and/ or time has been updated.
Error: The transaction cannot continue unless you intervene to correct the error on screen. For example: Settlement has failed due to technical or process error.
Notifications alert you to:
Changes in Workspace data
Changes in a Document
Changes in Lodgement Verification
Changes in a Workspace status
A Notification email is sent to all the participants in a Workspace for selected notifications in PEXA.
The email address used to receive these notifications is entered and maintained by your Subscriber Administrator.
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A PEXA Task is an activity associated with a Workspace. The PEXA Tasks screen helps you keep track of things you need to do. At a Workspace level, you can view incomplete tasks within the Workspace through the Tasks tab on your Workspace.
All tasks within PEXA are created automatically. For example, if you create a Workspace and assign the role of Incoming Mortgagee, a task is generated in the Workspace. This task is entitled Create Mortgage Document.
When you successfully create the National Mortgage document, the task is removed from the All Workspace Task List since it is now Complete.
Examples of tasks include:
Create a document
Sign a document
Complete financial settlement schedule
Note: At a Workgroup level, you can view at a glance the outstanding and actionable tasks across different active Workspaces that you have access to. To do this, select the Outstanding Tasks button from the Main Menu.
Tasks at a Workspace level
1. Click the Task name to review or complete.
Note: As soon as you complete your activity, the task is removed from the Task List.
Result: The PEXA screen is displayed depending on the required activity.
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PEXA Search enables you to locate a specific Workspace. The Search function is located on the toolbar in every screen in PEXA. A key word is entered into the field and the search results will return a list of Workspaces that contain the keyword.
Tips for a successful search:
Keep it simple.
Use your Subscriber Reference ID to quickly locate a required Workspace.
Add relevant words to pinpoint exactly what you are looking for.
Identify a field or value that is unique for the Workspace. For instance, Subscriber Reference ID, Client Name, Postcode or Street name help pinpoint the Workspace you are searching for.
Use only key words rather than a full sentence.
Enter your keyword in the Search PEXA field.
It is recommended that you search first on your Subscriber Reference ID as that should be a number or reference that is easy for you to identify. For example: Type your internal matter number, or customer case identification number in the search field, e.g., 32445-22c.
Select the appropriate category.
Press Enter to search by default on the Subscriber Reference file.
Click the Subscriber Reference link to display the Workspace Summary for the relevant Workspace.
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The History Screen displays an overview of all activities that have occurred in the current Workspace. The activities in the Workspace are assigned a date, time, event description and category.
Workspace History Screen
You can apply a filter to the History list to display only the items of interest. For example: Display activities by the Document category only. Note: Dealing Numbers for your transaction with the Land Registry are displayed alongside the appropriate event in the Event Title field on the History Screen.
Display History and Apply / Reset filters
1. On your Workspace Summary screen, select History from the left navigation panel. Your list of History entries will display.
2. To apply a filter to your list of results, click on the Filter drop down arrow against the column you wish to filter.
3. Enter your filter criteria, and select Filter.
Result: Your History screen will display only those results that match the criteria filtered.
Note: Select Clear Filters to reset/undo the filter.
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A PEXA Conversation is a simple and secure way to communicate with other participants within a Workspace. You can start a conversation to guide other participants in the completion of your transaction or to ask for additional information or assistance.
PEXA Conversations functionality allows you to:
Create a new conversation
Create a new message in a conversation
Change a conversation priority
Invite other participants to join a conversation
Remove a conversation that has been initiated by your subscriber but has not been replied to
Creating a Conversation
Open your Workspace and select Conversations from the left navigation panel.
Select New Conversation.
In the To field select the Participant(s) you wish to add to the conversation. Note: You can only add participants who are assigned to the selected Workspace.
In the Subject field type the subject of the conversation e.g. Property visit.
In the Message field type your message.
Check the High importance box if the conversation is important.
Result: The new conversation appears in your Conversation List.
Responding to a Conversation from the dashboard
You can respond to a Conversation directly from the Unread Conversation dashboard.
Open your Workspace and click Unread Conversations from the left navigation panel.
A list of unread messages displays.
Select Action cog > Reply on the message you want to respond to.
Type in your message and then click Send.
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Create or Edit Party Details
Parties are people or organisations that are referenced in the property transaction.
Examples of parties in a property transaction include:
Purchaser of land,
Seller of the land, and
Financial organisation placing a mortgage on the land title.
5 Steps in PEXA to create a new party record
Create a workspace or accept an invitation to join a workspace.
Add the applicable land title(s) to the workspace.
Navigate to the Participants screen and review the participant details and associated parties to the transaction.
Click Create Party to add a new party to the workspace.
All parties to the property transaction must be added or edited before the transaction can be successfully completed.
Existing Party Details on Title
Any party details held on the Land Title are displayed on the Participants screen when the title is added to the workspace. The details for a transacting party may be edited using this Party Screen.
If a transacting party does not exist on title, then the Party will need to be created in the workspace. A new Party may be created by any participant in the workspace.
Note: A subscriber does not need to represent a party in order to create or edit the party record.
Any party that is not yet represented by a subscriber in the workspace is displayed in the list of Unrepresented Parties.
Representative Subscribers are subscribers who represent a client in PEXA. They have a Client Authorisation Agreement signed by their client to act on their behalf. In most scenarios, representative subscribers are participants in a workspace and their client is a party.
Principal Subscribers represent themselves in a land transaction. For example, when a Bank places a Mortgage on a title, they act on their own behalf, as a principle subscriber. In this case, the Bank is both a participant and a party in the workspace.
Justifications for Change in Name
Subscribers enter justifications using the Party screen. For example, if the legal entity name differs from the name on title, or the Proprietor on Title is required to change (VIC), then a Subscriber can provide a justification for these variances using the Party screen.
Legal entity name differs from the name on title
Select the party record on the Participants screen and Action > Edit to launch the Party screen.
Previous Name on Title section of the Party screen allows you to provide your justification.
Depending on the type of justification, the related action required defaults. Justification information entered in the Party screen is then visible (read-only) in the documents, including Discharge and Mortgage documents.
Note: A subscriber does not need to represent a party in order to edit the party record for a change of name.
Create or Edit Party Details
Party screen Participants Screen 1. Click Create Party to create a new party to the selected workspace. Note: Select Edit to edit an existing party record. Party Screen 2. In the Representation field, either select:
I Represent this Party to add or edit a represented party in the workspace, or
I do not represent this Party if your organisation does not represent the party in the workspace
3. Select the Role of the party in the workspace. 4. Select the appropriate Party Type: Organisation or Individual. 5. Complete the Party Name details. Note: This must be the legal entity name. 6. Select the Land Titles to which the new party is involved. 7. Review the details of the Name on Title.
Note: A justification is required if the name of the party is different to the name on title. 8. Complete the Service of Notice Address details for the party. This is the address to which any notices are sent from the land registry 9. Complete the Delivery Address details for the party.
Note: Select Same as Service of Notice if the address is the same as the service of notice address. 10. Click Save.
Result: The Party record is created and displayed in the Participants screen.
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Land Title details are held with the relevant Land Registry and are added to a PEXA Workspace using the Land Titles reference number when you first create your Workspace.
Land Title information includes property and proprietor details, as well as information on mortgages, and caveats for the selected property.
Land Titles screen
Land Title Reference
Land Title Reference numbers refer to the identification number that the Land Registry in your jursidication uses to identify a Land Title. The common format follows a volume and Folio structure, 12345/100 (but varies slightly between States/Territories).
Add Additional Land Title
A Land Title is added either:
When you create your Workspace.
At any stage prior to the Workspace being locked for financial settlement or lodgement. This is done via the Land Titles screen.
Add a Land Title to a Workspace
From your Workspace Summary screen, select Land Titles from the left navigation panel.
Click on the Land Title Reference/s to expand and check the information.
Select Add Land Title to add a new land title to the Workspace.
Enter the Land title reference. Note: The Land title reference is the identifier for the land title you are processing in this Workspace.
Select Validate to verify the land title reference. Notes:
If the Land Title reference is valid, Land Title address details are automatically populated in the Titles List in jurisdictions where this data is available.
Victoria Land title address details are not returned on validation. Details are returned once the Land Title Reference Summary screen is saved.
QLD Register does not record address details for a land title, the land description will be returned in place of the property address.
Select Save to confirm the addition/s.
Result: The new Land Title is added to your Workspace.
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Click "I'd like to try it myself"! To launch the tutorial in a new screen, click here.
Create a new workspace
Click on Create New Workspace.
Role = Incoming Mortgagee
Enter Land Title(s) and click Validate.
Enter Subscriber Workspace Reference.
No Financial Settlement.
Request land title data now.
Confirm land title details
Navigate to the Land Titles screen.
Review the land title details returned from the Land Registry.
Confirm Participant details
Navigate to the Participants screen.
Confirm Participant and Party details.
Create Mortgage Document
Navigate to the Documents screen.
Click on Create Document, and then Mortgage Document to display the National Mortgage screen.
Note: You must have the role of Incoming Mortgagee to be able to create a Mortgage document.
Result: The National Mortgage screen is displayed and pre-populated based on the jurisdiction of the Workspace.
Select Title(s) to include in the mortgage document. You have to select at least one title. Note: You can select more than one title if:
The registered proprietors for each of the titles is the same.
The party capacity of the proprietors is the same.
Review the Estate and Interest of the mortgage.
Complete the mortgagor details. The mortgagor is the party (client) that is taking out the loan. They must exist as a party record in the selected workspace.
Select the Mortgagor type. This indicates whether the mortgagor is an existing Proprietor on Title or Incoming Proprietor.
If Proprietor on Title is selected, the details default based on the information returned from the land registry for the selected titles.
If Incoming Proprietor is selected, the Party record with the role of Incoming proprietor is added. You can then select [Add Proprietor on Title] button to add the existing proprietor on title record returned from the land registry for the selected titles.
Note: If the correct mortgagor is not available, they must be created using the Participants screen. Create or edit a party record to ensure the details are correct.
Ensure the correct Mortgagee is selected. The Mortgagee is the organisation responsible for issuing the loan to the client. This defaults to the Subscriber creating the mortgage document.
Click the Add Mortgagee button to add additional mortgagee records if applicable.
Mortgage Reference and Date
Enter the Mortgage Reference Number. This is the bank reference for the mortgage.
Enter the Mortgage Date to indicate the date the mortgage was signed.
Select the MCP Reference relevant for the mortgage document. This is the reference for your bank’s terms and conditions relative to this document.
Select the Additional Covenants for this mortgage.
Select Yes to enter Additional Covenants free text if required. For example: “All provisions contained in any Memorandum referenced in this Mortgage are incorporated in this Mortgage. If there is an inconsistency between these Covenants and the Memorandum, these Covenants prevails”.
Click Save to complete the new mortgage document.
Result: The new mortgage is saved and the document is displayed in the Documents screen.
If a lodgement case exists within the workspace, the new mortgage document is automatically associated to this lodgement. If no lodgement case existed, then one is automatically created.
If you encounter an "invalid memorandum" error, please insert the memorandum ID without the check digit at the end; e.g. If memorandum ID is AA123456R, then enter as AA123456. For more details, see here.
From the Documents screen, you can:
View the rendered document
Edit the mortgage document
Remove the document
Sign the mortgage document
Submit for lodgement (no financial settlement)
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A National Mortgage document is a Land Registry instrument and is sometimes interchangeably referred to as a mortgage in PEXA.
It is created when a financial institution, holding an executed mortgage with a customer over a land title, wishes to register that new mortgage encumbrance on the land title. A mortgage document in a PEXA Workspace can be used for both standalone mortgages and new mortgages as a part of a Refinance process.
Only an Incoming Mortgagee can create a mortgage document in a PEXA workspace. The National Mortgage document is then created on the Document screen under Create Documents > Mortgage. All details for the selected mortgage are then entered in the National Mortgage screen.
For more information see > Create a National Mortgage Document.
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The term Partial Discharge has a different meaning depending upon the perspective from which it is viewed.
Partial Discharge occurs where more than one Land Title is used to secure a loan, and one or more (but not all) of those Land Titles is released as security (e.g. for property developments).
Partial Discharge occurs where a fraction of Proprietors or Mortgagees in a Tenancy are removed from a Mortgage.
Can PEXA support Discharge of a Mortgage from any one or more Land Titles securing a loan?
Yes. PEXA provides the capability for the mortgagee on title (or its representative), to discharge the Mortgage from all or, any but not all, of the Titles securing a Mortgage.
The Mortgagee on Title (or their appointed representative) identifies the Land Title(s) from which the Mortgage is to be Discharged and requests that the identified title(s) be brought into the PEXA Workspace.
Upon successful lodgement the Land Registry will Discharge the Mortgage from each of the titles identified on the Discharge of Mortgage document.
Can PEXA support Discharge of one or more Mortgagors, but not all from a Mortgage?
PEXA supports the ability for Proprietors in a Tenancy to be registered on title as Mortgagors:
For example, Mary and Fred Jones are joint Proprietors of their family home. Fred and Mary successfully apply for a loan from ANZ Bank. ANZ Bank register a single Mortgage on the family home with Mary and Fred as Mortgagors.
PEXA is unable to support Discharge of one or more Mortgagors, but not all from a Mortgage in a single transaction.
That said if one or more Proprietors were to relinquish their interest on title, then a new Mortgage could be registered with the new Proprietor(s) as Mortgagor.
Using the example above, if Fred and Mary determined that Fred would no longer be a Proprietor and ANZ agreed that Mary could be the sole Mortgagor, then a Discharge - Transfer - Mortgage transaction could be completed in PEXA to Discharge the existing Mortgage, transfer the land from Fred and Mary to Mary and register ANZ as Mortgagee with Mary as Mortgagor.
Can PEXA support Discharge of one or more Mortgagees, but not all from a Mortgage?
PEXA supports the ability for a Mortgage having more than one Mortgagee in a Tenancy to be registered on title.
Jim Smith a developer purchases land for a development. Jim secures investor capital from Investors A, B and C in shares of 60%, 30% and 10% respectively. Each investor wishes to be registered as Mortgagee at the same priority on a single Mortgage. PEXA provides for Investor A, B and C to be represented by the same or different Participant to register their interest in land as Mortgagees. Click here to learn more.
PEXA is unable to support Discharge of one or more Mortgagees, but not all from a Mortgage in a single transaction.
That said, if one or more Mortgagees wishes to relinquish their interest, then the existing Mortgage on which the Mortgagee holds a tenancy may be Discharged and a new Mortgage with the remaining and or new Mortgagees added.
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PEXA is pleased to present the next release of the PEXA System, release 3.1, on 1 February 2016.
For this release:
Completing a caveat in NSW has received improved on-screen help and guidance
Invitations can now be forwarded to other subscribers
Financial Institutions can now specify the type of transactions they are able to process at any given time.
Caveats in NSW Improvements
PEXA has enhanced the NSW Caveat screen based on direct feedback from NSW LPI and our Subscribers.
NSW Caveat screen enhancements
Improved help text on a number of fields and buttons, including Add Claim Party button, Further Details supporting claim and Qualification details. This provides more direction to users, improving the ease of creating Caveats in NSW
Address field improvements to allow for Unit Numbers with letters (for example, 24a)
Duty Assessment Number formatting has been updated to allow for all types of number formats (for instance, 123456-103 or 123456103)
Update the Qualifications details field label to now read Qualification of Action Prohibited Details
NSW Caveat screen
Forward Invitations to Other Subscribers
If you have received an invitation in error, and you know who should be the correct recipient, you now have the facility to forward the invitation to the correct subscriber.
Steps 1. Navigate to the Outstanding Invitations screen 2. Select the invitation and click [View].
Workspace Invitation screen 3. Select Forward to another Subscriber under Your Response 4. Enter the first three letters of the Subscribers name in the Select the Subscriber Organisation Name field. Then select the subscriber from the list. 5. Enter additional notes to help further explain the invitation. 6. Click [Save]
Transaction Limitations – Financial Institutions
Financial Institutions (FI) can now display any transaction limitations they may have to other subscribers. This is especially important for new FI subscribers who might be transitioning their business to electronic conveyancing. For example, the FI may initially only wish to process standalone discharges or mortgages, which helps their team adopt new processes and become familiar with the PEXA System, before accepting invitations for refinances and transfers. Transaction Limitation settings are made via the Administration Tools > Manage Subscriber Details screen.
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PEXA is pleased to present the next release of the PEXA System, release 3.0, on 23 November 2015.
The PEXA System has been enhanced to streamline how you process your transactions in direct response to your feedback. For this release:
Completing the address details of your clients has been improved
Linked lodgement functionality for Incoming Mortgagees has been added
Visibility to settlement date and time changes has been improved.
Party Address Improvements
Overview PEXA has enhanced the Party screen, assisting you in completing address details for the parties you represent.
Party Screen enhancements
New Copy Address buttons have been added to the Current Address and Future Address sections of the Party screen. For parties in the role of Incoming Proprietor or Proprietor on Title, this button allows you to copy the address of an existing party or land title address, - reducing duplicate data entry.
Party Record Address Examples
Scenario: You are representing two Parties with the same address, for instance, husband and wife. When creating -multiple party records, you can now copy the address entered for the first party (e.g. husband) across to the party record for all additional records (e.g. wife). This directly reduces the need to re-key address details.
Additionally, if the address being used is the same as the address of the title in the transaction, you can now also copy the land title address details for population in the party record. For instance, the purchaser is moving into the property (future address), or the vendor is selling their residential home (current address).
Overview A Linked lodgement is where two or more workspaces are associated in PEXA for the purposes of lodgement, and where no linking of financial settlement is required. Linked lodgement functionality is available to subscribers operating in the role of Incoming Mortgagee. Scenario: The linked lodgements functionality supports transactions where a financial institution provides lending to a customer across multiple transactions, such as a refinance and subsequent purchase of another property, but funds are not linked between workspaces.
For Example: Bob Smith is keen to purchase a holiday home. Bob finds a more favourable lending arrangement with another bank, Flinders Bank. In their discussions, Flinders Bank stipulates that finance for purchase of the holiday home is dependent upon successfully re-financing Bob’s family home from his current lender, Coral Bank.
In this scenario, there is no movement of funds between the refinance of the family home and purchase of the holiday home. The dependency is a result of the securitisation at Flinders Bank.
Flinders Bank creates a link between the workspace for the refinance of the family home and the workspace for purchase of the holiday home. This provides the assurance that settlement for the holiday home will only proceed if settlement for the refinance of the family home has completed successfully.
Rules – Linked Lodgement
The following key rules/requirements have been applied for Linked Lodgement:
A user can only create a linked lodgement if the subscriber belongs to both workspaces and is in the role of Incoming Mortgagee.
Only a maximum of three (3) workspaces can be linked for sequential lodgement
Only a maximum of two (2) workspaces can be linked for simultaneous lodgement
Workspaces can either be linked for simultaneous OR sequential lodgement
Workspaces linked for simultaneous or sequential lodgement cannot be linked to any workspace for sequential settlement
Once settlement execution has been initiated for a linked simultaneous lodgement, both workspaces will lodge and settle independently.
Workspaces that are linked for the purposes of sequential lodgement cannot have the same settlement time. The preceding and trailing workspaces must be at least 1 hour apart.
Acceptance of Settlement Date and Time
Overview When settlement date and time is set or changed for a workspace, all participants must approve this newly scheduled date and time. Your acceptance of these changes has been streamlined in this release.
The Settlement Date and time status is now clearly visible to all participants in a workspace.
Your administrator can now set default rules for financial settlement and time acceptance.
Clearly Display Settlement Date and Time status
The status of the Settlement Date and Time Acceptance is now displayed under the Settlement Date and Time in the left navigation bar.
It is also displayed on the following screens for your reference:
Workspace Summary screen
Settlement Summary screen
Accept or Propose New Settlement Date and Time screen.
The status types are:
Accepted = Settlement Date and Time has been accepted by all workspace participants.
Not Accepted = Settlement Date and Time has not been accepted by you.
Pending Others = Settlement Date and Time has been accepted by you, however there are outstanding acceptances for one or more other participants in the workspace.
This provides you with greater visibility to the status of the Settlement date and time for a selected workspace.
Updating Status when Title Activity Has Occurred (TAC)
When a positive Title Activity Check (TAC) or TAC technical failure is encountered on the Final TAC, 1-hour prior to settlement, the incoming parties must re-enter the workspace to provide their agreement to proceed with settlement.
Status Change following Title Activity or TAC Failure
A change has been implemented to ensure that a workspace, that has encountered a positive Final TAC or Final TAC failure, will revert from Ready to Prepared.
The status of a workspace is a great indicator of any outstanding tasks that require completion. This change will subsequently assist users prepare settlements, by focusing the user’s attention on the outstanding task of providing approval to proceed.
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PEXA is pleased to present the next release of the PEXA System, release 2.6, on 12 October 2015.
The PEXA System has been enhanced to streamline how you process your transactions, focussing on improving tasks and notifications, in direct response to your feedback.
PEXA has renamed the previous Government Agency subscriber type to Principal Non-Financial Institution (non-FI) Subscriber and provided this subscriber type with the ability to represent themselves in a PEXA Transfer.
We have also added the ability for Panel Masters to authorise Panel Members to contribute funds from the Panel Master’s Exchange Settlement Account (ESA).
Improved Workspace Task functionality
PEXA has enhanced task functionality to ensure that the appropriate activities for you to complete are displayed at the correct stage of a transaction. This minimises any confusion or possible rework and helps focus your attention on the important tasks at hand.
The following tasks have been improved to display at the correct time in your transaction:
Create Transfer Document
Complete Transfer Document
Sign Financial Settlement Statement
Sign Nomination Documents
Sign Withdrawal of Nomination Documents
Sign Settlement Notice Documents
The following task have been added:
Add Title Address
Note: Subscribers using PEXA Manager will also see these outstanding tasks displayed in the appropriate views.
(Referencing PEXA CR563)
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Community House Rules
Welcome to your e-conveyancing community!
Many of you and your peers are already PEXA experts – now connect with other peers in the community to ask their advice, share your experience and learn together.
We’re here to help too. The PEXA team will moderate in business hours.
Some simple Do’s and Don’ts:
Be respectful (of others and of our site)
Be factual and relevant
Keep your word
Remember this is user-generated content; use at your own risk
Be aggressive or abusive. This behaviour will not be tolerated
Post personal or confidential information
Community managers or moderators may provide additional direction as needed to maintain a safe and welcoming environment for members.
Community managers or moderators will contact you if these House Rules aren’t followed and take action as per the Terms of Service. View the PEXA Community Terms of Service here.
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PEXA Community Rules
Property Exchange Australia Limited (PEXA) is an electronic lodgement network operator. The PEXA Community Forum is operated and managed by PEXA. These Community Rules govern your use of the PEXA Community Forum. In these Community Rules, any reference to “PEXA”, “we”, or “us” is a reference to PEXA.
A reference to “Lithium” is a reference to “Lithium Technologies Inc”.
You must take reasonable steps to protect your username and password and access to your device. You agree that you are responsible and liable for your use of the PEXA Community Forum, and for any use of your username and password by any other person. You must maintain your Community Forum contact details. You agree that PEXA may contact you by email at the email address you supply for registration. You must not improperly interfere with the PEXA website or PEXA Community Forum, including submission of viruses, worms, malware or other code which may disrupt or damage any of PEXA’s systems or websites. You grant to PEXA a non-exclusive, transferrable, irrevocable, royalty free licence to store, use and disclose the content of your posts on the PEXA Community Forum.
USE OF THE PEXA COMMUNITY FORUM
You must not use, or authorise or allow anyone else to use, the Community Forum in any manner which:
identifies your client or parties to a transaction or includes any personal, confidential or privileged information or information which may otherwise be used to identify a person or an organisation;
uses trademarks, logos, company names, copyrighted material or brands of any third party;
includes advertising or promotional material;
contains content which is illegal, misleading or fictitious;
contains any offensive, abusive, obscene, indecent or socially insensitive material;
is threatening, harassing, discriminatory or defamatory;
infringes the intellectual property rights of PEXA or any other person or organisation; or
is for any reason whatsoever, inappropriate, racist or offensive for display.
All posts must be professionally courteous.
MODERATION AND ENFORCEMENT
All information and material that a user places on the PEXA Community Forum may be viewed by any person. PEXA reserves the right, in its sole discretion, to accept, reject, edit or approve without amendment any questions, responses, testimonials or posts submitted to the PEXA Community Forum, including, but not limited to, posts or submissions which contravene your responsibilities regarding use of the PEXA Community Forum. PEXA reserves the right to refuse an account, delete accounts or block access of users who have contravened the above responsibilities, in its sole discretion. PEXA need not notify you of the exercise of PEXA’s rights of moderation or enforcement of these rules.
LIABILITY, EXCLUSION OF WARRANTY and INDEMNITY
PEXA is not liable to you or anyone else if interference with or damage to your computer systems occurs in connection with use of the PEXA Community Forum. To the extent permitted by applicable law, all representations, warranties and other terms are excluded. You must ensure that your access to this Community Forum is not illegal or prohibited by laws which apply to you or in your location. PEXA retains all intellectual property in the PEXA System and this website and grants you a limited, revocable and non-transferrable licence to access the PEXA Community Forum. PEXA makes no representation or warranty as to the reliability, accuracy or completeness of the information contained in the PEXA Community Forum or that the application will be uninterrupted or error free. While PEXA will monitor the material on the PEXA Community Forum for compliance with these Community Rules, PEXA does not endorse or guarantee the accuracy of any information in a posting and is not responsible for any material posted on by users. You should not act on the basis of any information contained in this Community Forum without first obtaining specific professional advice. You agree to indemnify and hold PEXA harmless from any claims, demands, damages or direct losses arising from your breach of these Community Rules.
Neither PEXA nor “Lithium” will be responsible or liable to any person for any content posted by a user if PEXA and Lithium comply with any notice of claimed infringement and counter-notices and any court orders relating to take down or put back, as if the provisions of Regulations 20I to 20W of the Copyright Regulations 1969 (Cth) applies to PEXA and Lithium (with reference in those Regulations to “carriage service provider” being read as a reference to PEXA and Lithium.
All postings express the views of the user who made the posting and not those of PEXA. These Community Rules may be altered by PEXA from time to time. Any amended terms or conditions will apply to your use of the PEXA Community Forum from the time at which the changes are published on the Community Forum website. These terms and conditions are governed by the laws in force in Victoria, Australia and you submit to the non-exclusive jurisdiction of the courts of Victoria, Australia and any courts which may hear appeals from those courts in respect of any proceedings in connection with the PEXA Community Forum or the Community Rules.
Lithium owns all copyright and other intellectual property rights in this software application, applicable documentation and programming and user interfaces (other than software provided by PEXA or materials added to the user interface by PEXA).
Privacy Collection Statement
In the course of operating the PEXA Community Forum, PEXA will collect Personal Information (as defined in the Privacy Act 1998 (Cth)) about you. You must provide your Personal Information such as full name, email address and to create an account to use this Community Forum. PEXA may disclose your Personal Information to Lithium for use by Lithium in providing hosting services to PEXA. If you do not provide your details, PEXA will be unable to provide you with an account to use this Community Forum. Other than to register an account and maintain your profile details, you should not be providing Personal Information about yourself or others in this forum. If you do provide Personal Information in a Community Forum post, it will be visible (disclosed by PEXA) to all other users and readers of the PEXA Community Forum. You will be responsible for the use by third parties of any Personal Information disclosed by you to the PEXA Community Forum, regardless of whether such use is permitted by you or not. You indemnify PEXA and Lithium against any claims that may arise as a result of such disclosure or use.
You acknowledge that your use of the PEXA Community Forum indicates acceptance of these PEXA Community Rules.
For PEXA Support Centre contact:
Phone: 1300 084 515 Email: email@example.com Hours: 7.00am - 10.00pm AEST
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A Discharge of mortgage is a type of dealing, usually lodged by a bank or financial institution, after a mortgage has been repaid. On registration, reference to the mortgage is removed from the title.
The Discharge document is created in PEXA when the proprietor on title pays out their mortgage and requests the Bank to remove their name from the registered title. Alternatively the proprietor wants to refinance their mortgage with another financial institution.
The Discharge document is included in a lodgement case that is submitted to the Land Registry for registration of the discharge of mortgage.
Financial settlement data is entered into the Workspace in PEXA when the discharge involves the transfer of funds between Financial Institutions. The financial settlement has a scheduled date and time. At the prescribed financial settlement time the funds are exchanged and the lodgement case will be lodged.
All financial items must by certified and registry documents signed prior to the financial settlement date and time.
Mortgage Payout Scenario
William and Sue Black pay out their registered mortgage with Green Bank. As a result, Green Bank is requested to Discharge the registered mortgage over the property.
Green Bank, as a Subscriber in PEXA, creates a new Workspace with the role of Mortgagee on Title and creates the Discharge document.
Green Bank creates a Workspace in PEXA and enters the following details:
Jurisdiction of Land Title as Victoria
Representative Role Mortgagee on Title
Land Title Information Vol/ Folio Number and
Subscriber Reference Number.
PEXA will display the Victorian Discharge of Mortgage form, which is pre-populated with land title data previously entered for the Workspace.
PEXA creates a Lodgement Case and associates the Discharge document and Registrar’s Instructions.
PEXA automatically generates a Lodgement Instruction document for the Lodgement Case.
Mortgage Operations staff may add or amend data prepopulated into these documents as required.
Once the documents are completed, PEXA sends the Lodgement Case to the Land Registry for verification.
A Green Bank certifier (a staff member with authority to sign on Green Bank’s behalf) will digitally sign the electronic documents in the Lodgement Case.
The Bank may require a second Certifier for the transaction.
Upon provision of digital signatures, PEXA automatically initiates anotherLodgement Verification with the Land Registry.
Following successful lodgement verification a Green Bank staff member requests lodgement of the Lodgement Case
Once the Land Registry receives and processes the Lodgement Case, it sends PEXA a Lodgement Advice and Dealing Numberwhich is updated in the Workspace.
Once the Discharge is registered with the Land Registry, a notification is sent to PEXA to confirm that the Register has been updated to reflect the discharge of mortgage over Mr & Mrs Black’s property.
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A Discharge of Mortgage is a type of dealing, usually lodged by a bank or financial institution, after a Mortgage has been repaid. On registration with the Land Registry, reference to the Mortgage is removed from the title.
Only Subscriber users representing the Mortgagee on Title can create a Discharge document in PEXA. In Victoria, a single Discharge document is used to discharge a single Mortgage.
Click "I'd like to try it myself!" To launch the tutorial in a new screen, click here.
Mortgage Number When the Mortgage reference number is entered into the Discharge document in PEXA, the details held with the Land Registry automatically display in the Current Name and Name of Party on Register fields.
Lodgement Instructions Where a lodgement case already exists in the Workspace, the Discharge document is added to the lodgement case when saved. If lodgement doesn’t already exist, the lodgement case and lodgement instructions are created and the Discharge Document is allocated to the lodgement case in the Workspace.
Financial Settlement When financial settlement is required for a refinance scenario, the settlement details are entered into the Workspace, via the Financial Settlement Schedule menu in PEXA. Please refer to the instructions for Maintain Financial Settlement Schedule for more details.
Update Discharge Documents Discharge documents can be edited in the Documents screen, in the following circumstances:
The Discharge document is saved in the Workspace.
The Subscriber user has the appropriate credentials to edit the document.
The Lodgement Case is not locked.
Note: If the Discharge document is signed, editing the discharge document un-signs the document and the Discharge document status reverts to In Preparation.
Create Discharge Document
Create a New Workspace or locate an existing Workspace to add the Discharge Document to.
Select Documents from the Left Navigation in the Workspace Summary screen.
Click Create Document and then select Discharge Document.
Select Discharge from the list. Note: Only the Mortgagee on Title role can create the Discharge document.
The Mortgage reference number displays in the field. Note: The Mortgage Reference Number is associated with the Land Title and is sourced from the Land Registry Information supply (RIS).
Check the following information in the Discharge screen:
The details in Current Name and the Name of the Party on Register fields match.
Titles and property address details
If the information in the Current Name and the Name of the Party on Register fields does not match, provide a reason for the difference using a justification via the Participants > Party screen. For example: Green Bank is the Mortgagee on Title, but the Party on Register is Yellow Bank. The two banks merged 6 months ago into one entity, Green Bank.
Result: The Discharge Document displays and has a status of Prepared.
PEXA automatically creates the Lodgement Instructions document ready for the lodgement case (where lodgement doesn’t already exist). The Lodgement status displays as In Preparation.
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