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Hi Community,   On Monday 14 June 2021, the Queen’s Birthday public holiday will be observed in New South Wales, Victoria and South Australia.   As such, the Reserve Bank of Australia (RBA) will be closed and financial settlement will not be available for all states, including Queensland. Members looking to book a settlement for this date will be unable to do so.   Why is financial settlement unavailable? In a digital settlement, funds are exchanged through the RBA and subsequently disbursed to the relevant parties. As the RBA is closed, this process cannot take place.   Lodgement (the registration of documents with Land Registries) is unaffected and will still be available in all states.   We recognise this is an inconvenience for some members – if you require any assistance with planning for this date, please reach out to one of our PEXA QLD team – we’re here to help. ... View more

In the days and hours leading up to settlement, it’s common for settlement times to be updated. If you’ve already accepted the original settlements, re-accepting these can be time-consuming and needlessly put settlements at risk.   To streamline the re-acceptance process and reduce disruptions, in our January Release  13.0.0 & R13.0.1, we introduced a new feature that remembers your previous acceptance where only the settlement time has changed. Meaning that if you already accepted the original settlement   date and time, you won't need to go back into the Workspace to accept the amended settlement   time. (If you hadn't previously accepted the settlement date and time, your status will remain 'Pending'.)    You'll still be notified of any changes to the settlement date or time, regardless of your acceptance.   We understand that one size does not fit all, so we’ve built a switch that allows you to turn this feature off. However, we strongly encourage you to make the most of the benefits this feature will deliver to your organisation.   This feature’s switch can be found by navigating to   Administrator Tools   >   Manage Subscriber Details   then scrolling down to the   Financial Settlement section.   Please reach out to your Practitioner Specialist if you have any queries about these changes. ... View more

Hi there,   We’re pleased to share our final Queensland webinar of 2020, covering system outages and the impacts on settlement.   Matt Dunn, General Manager Advocacy, Guidance and Governance, QLS and Professor Sharon Christensen discuss practical steps and contract clauses relating to system outages and digital settlements.   CLICK HERE TO VIEW VIDEO   Please  also find attached the slide deck from the presentation for your records.    It’s been fantastic to see the engagement from our QLD community. ... View more

When a transaction comes in to OSR Online via the ELN channel, the full list of transactions available to self assessors is now available for selection, whereas previously, the self assessor could only select relevant transfer agreement or ELN lodgement.   The self assessor must select either relevant transfer agreement or ELN lodgement.  They should not be selecting any other transaction in the ‘Type of dutiable transaction’ field.   For more information please refer to the OSR Electronic Conveyancing Toolkit. . ... View more

Hi There,   We’re approaching the traditionally busy end of year period for our industry and we know it’s likely you have a high number of transactions to be settled before you spend time with your loved ones these holidays).   As we prepare to navigate the coming weeks, we’d encourage you to keep three key things in mind:   Be Early   Where possible, we recommend you progress your Workspaces as early as possible. This includes:   Sending Workspace invitations early, at least 10+ days out from settlement Finalising the source funds required for settlement 5+ days out, ensuring they are cleared 3+ days out if using the PEXA Source Account Finalising Payment Directions at least 24 hours prior to settlement Tip: 12pm and 2pm AEDT are popular time slots for settlement – consider selecting a different time.   Be Safe   Please remain vigilant at this time. Our Security team has provided the below guidance:   PEXA will only ever contact you from email addresses ending in "@pexa.com.au" Avoid email for the exchange of sensitive information Use PEXA Key to securely transfer trust and bank account details Be Kind   It’s been a challenging year, but we’re nearing the finish line. It’s important to remember we’re all working towards the same goal – supporting buyers and sellers, so I encourage you to be supportive of your Workspace colleagues and the PEXA Support Centre team.   Keep an eye out for a notice about holiday period operating hours from industry bodies across the states later this month. If you require any assistance, please reach out to your PEXA representative. ... View more

When an ownership of a title is in the name of a trustee for a bankrupt transaction in PEXA these are limited to a Release of Mortgage.   Unfortunately as the name of a trustee for a bankrupt is stored all in the surname field and when returned to Land Registry for verification it sends it as an individual due to no given name and organisation and is therefore deemed an incorrect party type.   Please check here in regards to scope in QLD.  Please rest assured that we are working closely with all third parties to further expand the scope of documents in QLD in 2021. ... View more

Reason for Outage: There will be a 6 hour outage window Friday 20 th November between 17:00pm and 23:00pm. During this time OSR Connect and OSR Online will be unavailable.   If you have any queries in relation to this outage please contact OSR directly via this link. ... View more

Hi Community, The Department of Natural Resources, Mines and Energy (DNMRE) and subsequently, the Queensland Land Registry, has confirmed its holiday closure period as Friday 25 December 2020 to Sunday 3 January 2021, inclusive. We’re pleased to share with members that settlement will remain available during this period. It’s important to note however that while settlement will proceed, lodgement and registration will not be confirmed until the Land Registry’s return date of Monday 4 January 2021. From this point, the Land Registry will begin to work through the backlog of matters accumulated during its shutdown. For more information, reach out to your PEXA representative or visit DNRME here.   ... View more

The previously reported issue impacting Stamp Duty verification for select Workspaces in Queensland has now been resolved. Workspace activity should now proceed as normal however please note you may need to re-confirm that your assessment has been submitted in OSRConnect. If you require further assistance, please reach out to your PEXA Queensland representative. ... View more

PEXA is dedicated to supporting firms transacting digitally in Queensland. As part of this commitment to the state’s members and industry, PEXA has provided a 50% pricing discount on Transfers, Priority Notices and Transmissions related to Queensland properties – with this offer concluding on 31 December 2020. After this point, from 1 January 2021, QLD transactions will re-align with PEXA’s national pricing. To help you prepare for this change, we’ve compiled a list of FAQs which you can access below:   When is the pricing offer ending? In support of industry, PEXA’s 50% discount on fees for Transfers, Priority Notices and Transmissions related to Queensland properties remains in place till 31 December 2020. After this date, the offer will no longer run, with PEXA fees in Queensland reflecting our national pricing schedule moving forward. This date was first communicated to members on 1 September 2020, ensuring practitioners were provided ample time to prepare. Why is the pricing offer ending? Since November 2019, a 50% pricing discount has been provided to all Queensland members to assist with the industry’s adoption of digital settlements and support the network through its ongoing transition. PEXA has extended the duration of this offer to run until the end of 2020, in support of industry and in light of the exceptional year we’ve experienced. We appreciate that the ongoing operational change for firms and the industry as a whole is significant and running dual processes is not ideal. The 50% discount on fees was one way for PEXA to help members navigate this challenge and the challenges presented over recent months. What happens if a Workspace is opened during the campaign, but settlement is executed after 31 December 2020? The Workspace must settle within the campaign’s time period to receive the discount. If the Workspace is created during the campaign period but settles or rolls over to settle outside the campaign period, standard PEXA fees will apply. What is PEXA doing to support members in Queensland moving forward? Though PEXA has been supporting members in Queensland with a pricing discount throughout 2020, we’ve been providing free on-the-ground support for members in Queensland since 2015, and we remain committed to assisting practitioners with their transition to digital settlements in this way. As digital settlement volume has increased in Queensland, PEXA has dedicated additional support and training to help ensure the network is best supported. The market has progressed significantly in recent months, which is testament to how members have embraced change, particularly in the difficult recent months as a result of COVID-19. PEXA will continue to support the Queensland community moving forward, by maintaining our extensive team of local, on-the-ground experts, providing a wealth of free digital learning materials courtesy of our training team, continuously enhancing the member experience and collaborating with practitioners, financial institutions, representative bodies, regulators and government to advance online settlements for the industry and consumers alike. ... View more

Daylight savings time will resume in New South Wales, Victoria, South Australia and Tasmania from Sunday 4 October 2020.   The following changes will be effective from Tuesday 6 October 2020 until Friday 2 April 2021.   For members in NSW, two additional settlement slots will be made available: 6.00pm and 6.30pm AEDT.   In Western Australia, settlement rebooking cut-off time will be at 1.00pm AWST.   Please also be mindful of the 4.00pm cut-off time in Queensland, with the jurisdiction not observing daylight savings time. ... View more

Our practitioners and financial institutions are working more closely than ever before, thanks to digital settlements. Hear from Bendigo Bank’s James Astill and Ruth Behrends about digitisation in the banking sphere and how all parties can best collaborate to streamline the settlement process.   For our Members that missed the Behind the settlement scene at Bendigo Bank webinar you can now watch the recording here.     ... View more

   It has been an incredibly busy August in Queensland. Our members have been driving significant momentum in the sunny state and this blog is dedicated to celebrating those firms who are helping lead the industry’s digitisation, showing leadership in their regions and collaborating selflessly with their peers.    Without further ado, I’d like to acknowledge the following firms:   Empire Legal, Spring Hill - Surpassing 100 PEXA settlements.   Empire Legal has been registered with PEXA for 12 months now and has embraced e-conveyancing ever since joining. They are strong advocates and are always encouraging other Brisbane CBD firms to embrace PEXA. They celebrated this achievement with a well-earned morning tea.   Colwell Lyons Lawyers, Northside Brisbane – Celebrating 500 PEXA settlements and becoming PEXA Certified   Colwell Lyons Lawyers is a well-established and recognised law firm on the northside of Brisbane, with the firm’s Principal, David Colwell, having practiced in the area for more than 30 years. With many long-standing clients and business referrals, the firm has an extensive knowledge of the conveyancing process. It has been an absolute privilege to observe the firm’s PEXA journey – having started transacting towards the end of 2019, and now being graduated to PEXA Certified status as well as recently eclipsing 500 PEXA settlements milestone. Congratulations to the entire fantastic team!   Sunshine Coast Members – Busy Bees   Our cohort on the Sunshine Coast has been extremely active in August, with the following members now having all completed in excess of 10 PEXA settlements:   Caloundra Law Vantage Law Siemons Lawyers Turbo Legal SJP Law Conveyancing First Bill Lyons Solicitors Fox Taylor Mildwaters Hopkins Manttan JHK Legal (Sunshine Coast) Young&Co Law It is a credit to each of these firms on how they have embraced PEXA during COVID-19 and created a sense of community on the Sunshine Coast to support each other during the need for change at this time.  We look forward to celebrating more milestones with each of you in the near future.    Wallace Davies Solicitors, Redcliffe – hitting 100+ settlements!   Wallace Davies Solicitors has recently exceeded 100 settlements and continue to advocate for PEXA on the peninsula. Well done to the team for their tremendous efforts.   Connor Hunter, Wynnum – surpassing 250 PEXA settlements   Congratulations to Connor Hunter for surpassing 250 PEXA Settlements and becoming PEXA Certified. Connor Hunter were early adopters in the Redland Bay area and continue to encourage the local firms to get onboard!     Bell Legal Group – hit 100 QLD PEXA settlements!   Bell Legal was founded in 1955 and is the Gold Coast’s longest established law firm.  Steeped in history, Bell Legal Group reached a PEXA milestone this month celebrating 100 QLD PEXA settlements! The team at Bell Legal have been an absolute delight to support while they transition to electronic settlements. @JPrins    Foxlaw, Rockhampton – PEXA Certified & 100+ settlements!   Josh and the team at Foxlaw have been using PEXA for a while now and have always been great advocates in the Rockhampton Region. Josh got his team on board early and made sure they could help any other firm in the area make the transition. Foxlaw’s drive to change the way a traditional transaction was completed saw them power on up over 100 settlements and become PEXA Certified. Congratulations team, enjoy your well-earned success.   Bowen Law, Cairns – PEXA Certified   Congratulations to Bowen Law on becoming the first firm in Cairns to become PEXA Certified.  As one of the early adopters of e-conveyancing in the area of e-Conveyancing, Bowen Law love the time saving benefits of PEXA and the fact they can do multi-jurisdictional, contemporaneous settlements which is something that is impossible to do in a paper settlement.    They are also embracing PEXA Projects with an upcoming development ensuring their clients are provided with a more streamlined and secure transaction from start to finish.   Again, congratulations to all the members mentioned this month for their hard work with these achievements.   PEXA has a strong support network for new and inexperienced users and very quickly, with the guidance from our team, and the friendly nature of our community, you’ll be up-to-speed and achieving milestones like the above firms in no time. Keep an eye out each month for our wrap up of the community’s achievements!   ... View more

QLS have provided an update to their COVID 19 related FAQ's in response to the recent changes in restrictions in Queensland.   You can view this update on the QLS website  here. ... View more

ARNECC have issued a Notice to Subscribers (2020-NS1) to clarify their position in relation to the digital Verification of Identity.     You can view their notice here. ... View more

Titles Registry have issued a reminder that, further to Titles Registry Alert 171, revised Queensland Titles Registry fees will take effect from 1 August 2020. The revised fees are prescribed in the Natural Resources, Mines and Energy Legislation (Fees) Amendment Regulation 2020 which is available on the Office of the Queensland Parliamentary Counsel website. Attached for your information is a summary listing the revised Titles Registry fees (click here) The Titles Registry online fee calculator will be updated on 1 August 2020 to reflect the revised fees that commence on that date. Please note that up to and including 31 July 2020 the calculator will continue to function using the existing fees. ... View more