About Morvanna

This is an information note. The PEXA Security team constantly monitors the cyber environment, externally for our members in order to maintain a secure network.   There is a critical zero-day vulnerability showing up over the internet in the last few days. There have been reports of cyber criminals actively leveraging this vulnerability to attack organisations and individuals using a flaw in Internet Explorer.   We have an article listed on the PEXA Community Page. We suggest you give it a quick read to get a summary :   https://community.pexa.com.au/t5/Security-Updates/Microsoft-Internet-Explorer-Critical-Zero-Day-Vulnerability/m-p/18841   Microsoft has yet to release a patch for this vulnerability.   PEXA Security will continue to monitor the situation closely and take any appropriate action when it is deemed necessary.   Feel free to reach out to your PEXA representative if you have any questions. ... View more

Tip of the Month Given we are at the start of a new year it seems timely to remind you that the PEXA Transfer Guidelines have been developed to assist Subscribers with what they should be doing, and when, in order to ensure the timely and successful completion of a PEXA settlement. They have been developed through industry-wide collaboration with the intention to meet the needs of all PEXA Subscribers.  This is a great resource to bookmark to assist you through the year.   Brisbane Lunch & Learn Sessions For any members based in the Brisbane area we will be holding Lunch & Learn sessions at our office every 2 nd Tuesday of the month  which are free for you to attend.  If you would like to participate in one of these sessions, please contact your Practitioner Specialist for more details.   Outlined below is a schedule of upcoming Lunch & Learn sessions:   Date Topic Tuesday, 11 February 2020 Navigating through PEXA featuring: ·         Walk Me ·         PEXA Key ·         Corrective Payments ·         PEXA Community Tuesday, 10 March 2020 Stamping in a PEXA Workspace Tuesday, 7 April 2020 (this date scheduled due to Easter) PEXA Projects ... View more

Update of the Month   November was an extremely exciting month with PEXA Release 11.0.0 going live on 11 November 2019.    Some of the highlights in this Release for QLD Members are:- Transmission Applications (QLD) for Sole Proprietors are now in scope. Changes to the Form 24 Parts A and B to allow a read only view for the other side to alleviate the need for the other side to provide a copy when requested.   Quinn & Scattini Lawyers hit 300!!    A huge congratulations to the team at Quinn & Scattini Lawyers for completing 300 PEXA settlements in early November!    The team at Quinn & Scattini understand how important it is to be at the forefront of this technological change in order to deliver the best outcomes for their clients and this historical milestone in QLD is one they should be extremely proud of.    ... View more

As a firm who has been meeting the needs of Queenslanders for more than 120 years and whose values are “trust, respect, integrity and innovation” it is not surprising that this firm celebrated becoming PEXA Certified this week.  Whilst implementing e-conveyancing into their firm they took an extremely well planned and measured approach that aligned closely with their values.  The results of this approach speak for themselves with the volume of PEXA settlements they are driving growing on a weekly basis, their clients benefiting from the security of electronic settlements and their staff loving the benefits of an efficient and streamlined conveyancing process.  Well done to the team at wilson/ryan/grose for a well deserved award.   ... View more

Between hitting over 60 electronic settlements and featuring in the Daily Mercury it has been a momentous few months for Macrossan & Amiet Solicitors in Mackay and this week was no different with them becoming PEXA Certified.   As one of the oldest firms in QLD Macrossan and Amiet pride themselves on consistency and have a customer-first philosophy.  They have been at the forefront of adopting PEXA in the Mackay and Whitsunday region and beyond and their graduation was extremely well deserved.  Congratulations to the team – you should be super proud of this achievement.   ... View more

Situation example: Solicitor unavailable for final sign-off of docs at scheduled settlement time of 12pm. Solicitor won’t be available to sign until 2pm. Settlement rescheduled by practitioner to 2pm.   What happens if you manually change the settlement time? : ALL parties must re-accept the amended settlement, meaning that your workspace is at risk of not being ready to settle if not accepted by all parties by the settlement time.   Note: For linked settlements, the acceptance of the proposed settlement date and time is a pre-requisite . If one workspace is not ready due to the date or time not being accepted, all workspaces in the linked chain will not proceed to settlement.   Solution: Allow the system to automatically roll your settlement time slot by 30 min.  By doing this, acceptance of the new settlement time will NOT be required. Meaning you are more likely to settle on your preferred date. If other parties in the workspace need to be made aware, a conversation can be sent.   What happens if you manually change the settlement date? All participants in the workspace will be required to manually accept the new settlement date and time and the Financial Settlement Schedule will also be unsigned for all participants in the workspace.   ... View more

NOTE: Given that the transfer of the whole title from A and B to B is currently allowed by DNRME but cannot be facilitated by OSRconnect, it would be appropriate to advise self assessors/PEXA subscribers that scenarios such as the one below, cannot be handled in the ELN environment at this time.    Only duty exempt fractional transfers can be processed in PEXA in QLD:   Some related party transfers are in scope for QLD, however we strongly urge you to speak to your PDS prior to commencing a related party transfer. A fractional interest of related parties that may be subject to transfer duty cannot be processed. A fractional interest transfer (e.g. A & B on title, A wants to transfer their interest to B), that is exempt from duty under eligible exemption rulings can be completed on PEXA.   ... View more

Tip of the Month   The PEXA guidelines have been developed to assist Subscribers with what they should be doing, and when, in order to ensure the timely and successful completion of a PEXA settlement. They have been developed through industry-wide collaboration with the intention to meet the needs of all PEXA Subscribers.  This is a great resource to bookmark for future reference.   100 Settlement Milestones!   Last month three of our QLD firms, Swift Legal (Maryborough), PD Law (Airlie Beach) & Hickey Lawyers (Gold Coast) celebrated the completion of 100 PEXA settlements.  Congratulations to these firms.  We were so pleased that we could celebrate these momentous milestones with you.  You are all amazing!                             ... View more

As of May 2018, Transfers which record a transferee as trustee are able to be transacted through eConveyancing. To enable this to occur a new practice with regards to trustee documentation was implemented – a certified copy of the trust deed is no longer required and instead only details of the trust are required. For consistency in paper, in May 2018 the Titles Registry introduced a new Trust Details Form (in a Form 20 – Schedule), which can be used as an alternative to lodging the full trust deed. The new form can be used when a Form 1 Transfer is lodged which records a Transferee as Trustee in Item 5.   When transacting in PEXA, the details required for this form will be input by the Incoming Proprietor when creating the Transfer and the form will appear as a second page when viewing the rendered Transfer. For further details of the fields required please see Transferees as Trustees in a Transfer (QLD).   If an Incoming Mortgagee is involved, the details input in the Transfer showing the Transferee/Incoming Proprietor as trustee, will flow through on creation of the mortgage and list the Transferee/Mortgagor’s capacity as ‘Trustee'.   If you have any queries or concerns, please speak to your Practitioner Specialist. ... View more

During the stamping process for QLD, you are required to select an option for how the duty and unpaid tax interest (if applicable) will be paid. There is often confusion around which option to select as these options do not appear when stamping paper instruments.  When you commence stamping in PEXA, you will be presented with three options. For the purpose of clarity, we have broken down the meaning of each as follows;   Option 1 - Paid to the Commissioner of State Revenue before electronic lodgement settlement This duty option is selected when duty is payable to the OSR prior to the due date for settlement. Payment then needs to be submitted to OSR by the due date. Once OSR have confirmed payment is received, duty can then be successfully verified in the Transfer Duty screen of the workspace.   Option 2 - Received by the self-assessor before electronic settlement. (Payment should be made to the Commissioner within 14 days after the transaction is lodged.)                Select this option if you have received payment, or will receive payment at settlement for the Transfer Duty into Trust or by Bank Cheque.   Option 3 - Paid as part of an electronic lodgement settlement. (This option is only available for relevant transfer agreements.) Select this option if the bank is advancing all funds at settlement and you require the Transfer Duty to be paid into your Trust Account for you to disburse after settlement.   This article provides further information on the relevant sections of the Duties Act 2001 around payment obligations with electronic stamping. For general queries regarding stamping ELN Transactions please refer to OSR's E-conveyancing Toolkit. ... View more

Update of the Month Witnessing requirements for Titles Registry Instruments have commenced from 30 September 2019 Community Post - Queensland Titles Office announce new changes to witnessing requirements Queensland's first PEXA Open Day! PEXA was delighted to host the first member Open Day in Queensland, opening the doors to our Brisbane office on 19 September. It was a great opportunity for us to introduce you to the wonderful people committed to ensuring you have the most seamless and secure possible experience using PEXA, as well as showcasing what we have planned for the future of the network in the state.       We always love hearing your feedback and after speaking to members in attendance, popular elements of the event included the presentation on the security portfolio of the network, PEXA Key, and the evolving Exchange platform. It was also fantastic to see attendees engage in our panel discussions, which covered the topic of change management. Thank you to all of those who attended – the travel undertaken by some to join us on the day was significant and we appreciate you taking the time to join us. We’re really looking forward to welcoming more members in future Open Days to share in this experience and if you have any questions please ask away below. ... View more