About Jarrod_McAleese

Daylight savings time has resumed in New South Wales, Victoria, South Australia and Tasmania.   The following changes will be effective until Sunday 3 April 2022:   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

Hi Community,   We have a number of upcoming webinars in NSW. See below for dates, topics and registration!   6 October – Hints & Tips for NSW Mandate - https://us02web.zoom.us/webinar/register/WN_ZZYX80JzTo6U1nXI0bGA_w 7 October – NSW Residual Doc – Dealing with Exception - https://us02web.zoom.us/webinar/register/WN_EevjHLLJSF21FXXpkFmFhA 13 October - NSW Caveats & Priority Notices - https://us02web.zoom.us/webinar/register/WN_FnrPykmHQA60YNnq1NjqkQ 20 October - NSW Dealings with Exception - https://us02web.zoom.us/webinar/register/WN_UMile3DVQzSsampVUPb1qg ... View more

On Monday 11 October 2021, NSW will move to 100% eConveyancing by retiring paper titles and CoRD holder consents – providing a pathway for all documents to be digitally lodged. There are new conveyancing rules to support the change available here. The industry is working together to ensure there is a smooth transition to this significant milestone. There are some important things to note to support this change:   The term “Paper Dealing” will be replaced by “Dealing with Exception” (DwE) in PEXA New Lodgement Rules will be announced shortly, detailing waivers to the conveyancing rules here There will be two settlement pathways for Dealings with Exception: DwE Physical Settlement between parties and responsible subscriber uploads the documents in PEXA; or DwE Digital PEXA Settlement where each party uploads their respective documents in PEXA (as per usual) Please ensure that you include in the PEXA invitation, under notes:  This is a dealing with exception workspace  and follow up in the conversation tool within PEXA.   Important dates                   The details   How to transact a Dealing with Exception (DwE)   Financial Institutions have advised that documents required to be lodged as a DwE will require a physical settlement and the Responsible Subscriber (typically the Incoming Mortgagee), will lodge all documents post settlement through a PEXA Workspace.  (Note: where there is no Incoming Mortgagee in a transaction, the responsible subscriber would be the Incoming Proprietor).   Financial Institutions are working towards being able to support a digital settlement and we will communicate this date as soon as we can. Note:  if you are unable to attend a physical settlement, please contact the Incoming Mortgagee as early as possible to discuss alternatives.   Process for a DwE Physical Settlement involving Financial Institutions:   Financial Institution initiates contact regarding a settlement Other parties respond as early as possible advising a DwE is required All parties prepare and complete a physical settlement Responsible Subscriber creates the Workspace and a PEXA “Dealing with Exception” document for each instrument in the Workspace. Each paper instrument is uploaded and attached to the corresponding PEXA document Responsible Subscriber submits the Lodgement Case Discharge Transfer Mortgage Status DwE DwE DwE Supported   Please note:  Only one scanned paper instrument can be uploaded per PEXA document The order of lodgement must be correct, e.g. Discharge – Transfer – Mortgage If one DwE is required, all documents in the lodgement case must be created as DwE’s Ensure attachment is a pdf with no password or encryption DwE transactions without an Incoming Mortgagee can proceed and the Incoming Proprietor will be the Responsible Subscriber Participants in a DwE workspace should be advised of a DwE transaction in the invitation notes (eg DwE – discharge deceased from mortgage), and by sending a conversation In the future, we hope to be able to lodge a hybrid of standard PEXA documents and DwEs.  Work on this is underway with NSW LRS.    Discharge Transfer Mortgage Status Mainstream Dealing Residual Document or DwE DwE Not supported Mainstream Dealing Residual Document or DwE Mainstream Dealing Not supported   For further information about this important change, please refer to:   Office of the Registrar General (ORG) NSW Land Registry Services (NSWLRS) PEXA Help Cards Your PEXA partner or Account Executive ... View more

Hi Community,   Please note the following lodgement and settlement availability for all states on Monday 4 October 2021, with public holidays in New South Wales (Labour Day), South Australia (Labour Day) and Queensland (Queen’s Birthday):  Western Australia Financial Settlement is available until 1pm AWST Lodgement is available New South Wales Financial Settlement is available until 4pm AEDT Lodgement is available  Victoria Financial Settlement is available until 4pm AEDT Lodgement is available  South Australia Financial Settlement and lodgement are unavailable  Queensland Financial Settlement and lodgement are unavailable ... View more

Since Monday 12 July 2021, the NSW LRS Lodgment Office has been operating on an appointment only basis. They've provided top tips for online enquiries, submissions and lodgment, which you can access here: https://www.nswlrs.com.au/About/About/Announcements/76 ... View more

Hi Community,   We’d like to inform you that the PEXA Support Centre operating hours are changing, effective Monday 23 August 2021.   Previous operating hours: Monday-Friday 8:30 am to 8:00 pm AEST (or AEDT, as applicable) New operating hours: Monday-Friday 8:30 am to 6:30 pm AEST (or AEDT, as applicable) *excluding national public holidays and weekends.   We’re focused on continuing to provide the best possible support to you and your clients – and this change will help to ensure we’re more available during the times when you need us the most.   As always if you have any questions regarding this change, please reach out to us. ... View more

Hi Community,   The PEXA Exchange, PEXA Projects, PEXA Plus, PEXA Planner, PEXA APIs, MyView and Tracker Bespoke Report  will be unavailable from Friday 30 July 10:00pm AEST until Saturday 31 July 11:59PM AEST while we complete planned upgrades to our systems.   As always, we're here to support you however we can – please reach out to our friendly Member Support Centre if you require assistance or have any  questions about this outage. ... View more

Hi Community,   On Monday 2 August 2021, the NSW Bank Holiday will see reduced settlement hours for NSW, VIC, SA and WA. Please note the following changes:   New South Wales Financial Settlement is available until 4pm AEST Lodgement is available as normal   Victoria Financial Settlement is available until 4pm AEST Lodgement is available as normal   Western Australia Financial Settlement is available until 2pm AWST Lodgement is available as normal   South Australia Financial Settlement is available until 3.30pm ACST Lodgement is available as normal   Queensland Lodgement and settlement times remain unchanged   For more information, please visit https://www.pexa.com.au/hours-of-operation.   Kind regards, Jarrod ... View more

NSW ORG has announced two major changes, effective 11 October 2021, as industry continues to transition towards 100% digital:   The cancellation of Certificates of Title (CTs) and the control of the right to deal (CoRD) framework; and The requirement for all property dealings to be lodged electronically. Cancellation of CTs and the CoRD framework   All CTs will be abolished, effective 11 October 2021.   By order under section 33AAA of the Real Property Act 1900, from this date, all current CTs will have no legal effect and the Registrar General will no longer issue CTs for any reason.   Similarly, Authorised Deposit-Taking Institutions, such as banks, will no longer be issued with CoRD, which is the electronic equivalent of a CT.   All property dealings to be lodged electronically   Following the recent 10 May milestone, after which the final 34 out-of-scope Residual Documents were made available to be lodged electronically, NSW ORG has confirmed that under the NSW Conveyancing Rules, all property dealings are required to be lodged electronically from 11 October 2021.   For more information, please refer to the NSW ORG statement here: https://www.registrargeneral.nsw.gov.au/property-and-conveyancing/eConveyancing/abolition-of-certificates-of-title.   ... View more

Hi Community,   Fees for each of the Land Registries have recently undergone an annual review. The Land Registry fees have been updated and these revised fees will take effect from 1 July 2021.   For further information regarding the revised fees in each jurisdiction, please refer to the relevant Land Registry using the below links:   VIC Land Registry fees QLD Land Registry fees SA Land Registry fees WA Land Registry fees NSW Land Registry fees ... View more

The NSW Office of the Registrar General (ORG), NSW Land and Registry Services (NSW LRS) and PEXA continue to collaborate on the path to 100% digital in the state.   As part of this, we’re pleased to announce that from Monday 10 May 2021, the final 34 presently out-of-scope Residual Documents will be available to be lodged electronically.   The full list is viewable here: https://www.registrargeneral.nsw.gov.au/property-and-conveyancing/eConveyancing/schedule-of-edealings   Guidance notes: https://rg-guidelines.nswlrs.com.au/e-dealings/elodgment/Residual-Documents ORG announcement: https://www.registrargeneral.nsw.gov.au/news/final-batch-of-residual-documentsavailable-electronically-from-10may-2021 NSW LRS announcement: https://www.nswlrs.com.au/About/About/Announcements/136 ... View more

Hi Community,   The end of daylight savings is approaching (Sunday 4 April 2021), and the RBA has confirmed changes to RITS (Reserve Bank Information & Transfer System) session times.   As a result, the last available settlement timeslot in New South Wales will be 5:30pm AEST (reduced from 6:30pm).   Additionally, for our members in WA, you will now have an extra hour to re-book settlements, with the cut-off time returning to 2pm AWST (from 1pm).   Breakdown of settlement hour changes and impacted states from Sunday 4 April 2021 to Friday 1 October 2021:   State Times NSW 9:30am – 5:30pm AEST (settlement rebooking cut-off time is 4pm AEST) WA 8:30am-3:30pm AWST (settlement rebooking cut-off time is 2pm AWST) ... View more

Hi Community,   This year's Easter Holidays start on Friday 2 April (Good Friday) and end Monday 5 April (Easter Monday).   From 2-5 April, financial settlement isn’t available across all jurisdictions. However, Lodgement is still available in Victoria and New South Wales.   Kind regards ... View more

Hi Community, The PEXA platform will be unavailable from 10:00pm AEDT on Friday 26 March 2021 until approximately 12:30am AEDT on Saturday 27 March 2021 while we undertake planned upgrades to our systems. This work includes the deployment of new PEXA Key enhancements and maintenance of our Single Sign On solution. As always, we're here to support you however we can – please reach out to our friendly Member Support Centre if you require assistance or have any questions about this outage. ... View more

Hi Community,   As announced in December 2020 by the NSW Office of the Registrar General (ORG), certain Residual Documents, in addition to the Notice of Death document must be lodged electronically from 22 March 2021.   Residual documents in PEXA are a large collection of infrequently lodged registry documents that previously had to be lodged in paper. These can include Acts, Legislations, or other document types that don't fall into any of the main categories available in the PEXA Exchange platform.   For a full list of in-scope documents, please visit this link: https://community.pexa.com.au/t5/New-South-Wales/Announcement-Select-Residual-Documents-and-Notice-of-Death-move/gpm-p/21709   You may also access the NSW LRS announcement here: https://www.nswlrs.com.au/About/About/Announcements/130   Kind regards, Jarrod  ... View more

Hi Community,   Release 13.1.1 went live for members this afternoon and as part of this deployment,  a new layout for our Adjustments and Payments screen has been introduced.   Your feedback is key to shaping our continued user experience enhancements and we'd love to know what you think about this change. Share your thoughts with us below!   Cheers, Jarrod  ... View more

Hi Community,   PEXA will be conducting system maintenance on Saturday 20 March from 8:30am to 1:00pm AEDT.   As a result, Lodgement Verification in Queensland will not be available during this time.   Kind regards, Jarrod ... View more

PEXA NSW Bulletin – February 2021     It’s been a busy start to 2021 for PEXA’s NSW team. Sharon Ladkin and I were present at the recent AIC NSW Regional Conference – thanks to our members who came to say hello, it was lovely to see you!     We’re excited to share that over the coming months, you will notice a few little changes to the PEXA look and feel – including our logo.   You’ll see our branding refresh across all of your PEXA experiences (our website, the Exchange, social media, emails and more).   We’re excited to share this all with you in the near future! Reach out to us if you’d like to hear more.   Additionally, at this time, I’d like to remind members to remain alert to phishing scams and other cyber-attacks.   If you encounter something suspicious, contact your PEXA Partner or our Security team as soon as possible. I also encourage you to make use of PEXA Key – a free, guaranteed resource that will help safeguard your business and clients.   Our local, expert team is on hand to support you in the weeks ahead as always – please reach out if you require any assistance.   Testimonials from your colleagues     Kaylene Widderick, On Call Conveyancing Services   "On Call Conveyancing Services has decided to implement the use of PEXA Key to provide our clients with an added security measure giving them peace of mind that all best practice procedures are implemented within their conveyancing transaction."                     Renee Odell, Impact Conveyancing   "PEXA Key has become an integral part of our conveyancing process. As email communication becomes more and more untrustworthy, sharing account details via that medium puts our customers at an unnecessary and vulnerable security risk, the implementation of PEXA key was quite simply a ‘no-brainer’ for my firm."   KEY LINKS     An update from Team NSW:  PEXA Partner, Josephine Leone, shares her thoughts on the beginning of 2021 for our industry. READ     Leases enhancements: As part of Release 13.1, Leases in NSW received a significant overhaul. Check out our help-card here. GUIDE   PEXA Key and security webinar: This session will provide an important update on all things cyber: Wednesday 17 February, 1:00pm AEDT. REGISTER ... View more

Hi Community,   PEXA would like to advise that a previously identified scam, involving fraudulent WeTransfer emails, has resurfaced in the market.   In these cases, emails are sent to a practitioner, purporting to be from PEXA via   WeTransfer, asking the recipient to open/download files.   Malicious emails being sent via WeTransfer is an   ongoing cyber-threat   affecting Australian organisations.   Please note PEXA does not use WeTransfer for any email correspondence or service.   What to do   If you receive an email appearing to be sent from PEXA via WeTransfer, do not click any links and delete immediately.   As always, if you receive a similar phishing email or another communication you believe to be suspicious, please:   Do not respond Do not click links or download attachments Delete the e-mail Report it to your relevant security administrator or e-mail PEXA’s security team at   security@pexa.com.au.   PEXA will never send you an email advising you to click a link to access the PEXA Exchange, and will always direct you to login to access your account via   pexa.com.au.   Learn more about phishing e-mails   here. ... View more

PEXA would like to advise it has identified multiple instances of scam phone calls targeting members at this time.   In the reported cases, callers using international phone numbers have falsely presented themselves as being from PEXA or a survey company, seeking information on “PEXA from a user’s perspective”.   There is no such survey being conducted by PEXA or a third party with members and we will never contact you from international phone numbers. As always, it’s vital to be certain that the communication you have received is from a legitimate source and if suspicious, please exercise caution. What PEXA will never do   We’d like to remind you that PEXA will never:   Call you from unverified phone numbers. Ask for your multi-factor authentication code. Request files or information from you via a third-party service. Email you from unofficial addresses (emails that don’t end in @pexa.com.au). Send you an email advising you to click a link to log in to the platform.   Please reach out to us if you have any questions or would like any assistance: security@pexa.com.au. ... View more

The NSW Office of the Registrar General (ORG), NSW Land and Registry Services (NSW LRS) and PEXA are working together to digitise presently out of scope instruments for industry. As part of this, our ‘Residual Documents’ offering continues to expand. Residual documents in PEXA are a large collection of infrequently lodged registry documents that previously had to be lodged in paper. These can include Acts, Legislations, or other document types that don't fall into any of the main categories available in the PEXA Exchange platform. NSW ORG has advised that certain Residual Documents must be lodged electronically from 22 March 2021. These include: Transfer without Consideration Consolidation/Change of by-laws - form 15CH     Change of name of lessee, mortgagee or chargee - form 10CN     Variation of lease - form 07VL    Change of address of owners corporation - form 15CA    Change of address of association - form 21CAA   Change of address for service of notices for caveator - form 08CX              Change of name of caveator - form 08CX              Positive covenant - form 13PC    Restriction on use of land by prescribed authority - form 13RPA  Restriction on use of land vested in prescribed authority - form 13RVP   Transfer severing joint tenancy in an interest - form 01TJ              Variation of mortgage - form 05VM         Charge - form 06C           Covenant charge - form 13CVC   Discharge of charge - form 06DC              Positive covenant affecting land vested in a prescribed authority - form 13PVP        Restriction on the use of land - form 13RU           Change of name – Form 10CN    Positive Covenant (with Registered Interest Holder Consent) – Form 13PC         Restrictions on the use of land (with Registered Interest Holder Consent) – Form 13RPA Restriction on the use of land by a prescribed authority (with registered interest holder consent) – Form 13RPV            Transfer Altering Tenancy (Joint Tenants to Tenants in Common in equal shares) – Form 01JT Transfer Altering Tenancy (Tenants in Common in equal shares to Joint Tenants) - Form 01JT Transfer severing joint tenancy – 01TJ    Transfer Creating a Profit à Prende – Form 01TH Transfer Creating a Forestry Right - Form 01TH   Additionally, the Notice of Death document will also be required to be lodged electronically from 22 March 2021. If you have any questions, please reach out to us. ... View more

Cyber-security is a key priority at PEXA. In support of our members and the broader property industry, we continue to invest heavily in our infrastructure and educational resources. As we approach the busy end of year period, with a heightened volume of transactions to finalise, it's more important than ever to remain vigilant. Keeping settlements safe is a collaborative effort and our expert team is committed to supporting the network. In line with this, we're pleased to share our Security 101 resource with you. This contains an overview of the current industry security climate, how to navigate phishing scams, common scenarios identified by the community and general tips and tricks. Download this resource via the attachment below or view here: https://www.pexa.com.au/images/uploads/page_parts/Pdfs/PEXA_Security_update_December_2020.pdf   As ever, please reach out to your PEXA representative or our friendly Security team if you require further assistance. ... View more

Merry Christmas from everybody over at NAB.   As you would all know, the lead up to Christmas is always a busy time for settlements. Already NAB have a lot of customers getting ready to move into their homes prior to Christmas and we’re wanting to work together to ensure we provide the best possible experience. To do this, we’re seeking your support with the below: If not already completed, ensure that Total Funds Required / Enhanced Settlement Summary is finalised in advance of settlement date; Create Workspaces and invite NAB as early as possible; Ensure that the Transfer of Land is created well in advance to help NAB finalise our application internally; Send the Discharge Authority to Discharge.Authority@nab.com.au as soon as held. Additionally, if you are aware that NAB is expected to collect surplus on behalf of the customer for an outgoing transaction, please advise us as early as possible so we can create the line item destination in PEXA.   Furthermore, if you believe a settlement scheduled during this busy period is unlikely to be ready, we ask that you considering changing the anticipated settlement date. Your support and assistance is greatly appreciated during this busy holiday period. Kind regards National Australia Bank. ... View more

Hi Community,   On Christmas Day (Friday 25 December 2020), Boxing Day (Saturday 26 December 2020) and New Year’s Day (Friday 1 January 2021), financial settlement will not be available in all states. However, lodgement will remain available in Victoria and New South Wales. A state-by-state breakdown of lodgement and settlement availability on Christmas Day and and New Year’s Day, as well as office availabilities for land registries, is provided below.   Additionally, we’d like to reminder members during this period to verbally confirm bank account details with their clients or use PEXA Key to safely exchange sensitive information.   New South Wales   Christmas Day, Boxing Day and New Year’s Day availability Lodgement is available Financial settlement is unavailable Land Registry notice NSW Land Registry Services (NSW LRS) Lodgement Office will be closed on Tuesday 29 December 2020, Wednesday 30 December and Thursday 31 December 2020. The NSW LRS offices will also be closed on the public holidays of Friday 25 December 2020, Monday 28 December 2020 and Friday 1 January 2021.   Victoria   Christmas Day, Boxing Day and New Year’s Day availability Lodgement is available Financial settlement is unavailable Land Registry notice Registration and call centre services will be unavailable during the end of year holiday period, from 4.00pm on Thursday 24 December 2020 to 8.30am on Monday 4 January 2021.   Queensland   Christmas Day, Boxing Day and New Year’s Day availability Lodgement is unavailable Financial settlement is unavailable Land Registry notice 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.   South Australia   Christmas Day, Boxing Day and New Year’s Day availability Lodgement is unavailable Financial settlement is unavailable Land Registry notice TBC.   Western Australia   Christmas Day, Boxing Day and New Year’s Day availability Lodgement is unavailable Financial settlement is unavailable Land Registry notice Lodgement will remain available throughout the holiday period, excluding public holidays.   If you need assistance with your online lodgement or settlement over the Christmas period, PEXA’s Support centre is still available, except for public holidays – Christmas Day, Boxing Day and New Year’s Day 2020. You can contact our friendly support staff between 8:30am – 8:00pm AEDT at support@pexa.com.au or 1300 084 515.   ... 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

Dentons has provided the following information and tips when completing a transfer as vendor or purchaser in matters it is representing:   ING Bank Macquarie Teachers Mutual Bank Qudos Bank Bendigo and Adelaide Bank   Transfer - Sale (Mortgagee on Title)   How to initiate a Sale Request   Dentons requests that the practitioner sends the Discharge Authority directly to the Lender. Note that the Lender is not part of the PEXA Workspace when Dentons is acting on their behalf.     Lender Contact Details:    ING (T) 133 464 (E) mortgage.discharges@ing.com.au Macquarie Bank (T) 1800 007 722 (E) clientservices@mortgageinfo.com.au Bendigo and Adelaide Bank (T) 1300 236 344 Please return the signed and completed Discharge Authority to your local Bendigo Bank branch Qudos Bank (T) 1300 747 747 (E) loandischarge@qudosbank.com.au   PEXA Invitation Request   Please send as early as possible or at least 10-15 days prior to settlement Settlement days set shorter than 15 days may impact settlement times  Requested information to include in the PEXA invitation:    Denton’s Reference (if available)    z Lender Reference   (loan number) Mortgagor Names    Address of property   Preferred Settlement times: (AEST/AEDT) Dentons preferred settlement time is 12pm onwards Settlement Date Acceptance   The requested settlement date will not be accepted until Dentons have received instructions and the security packet from the Lender. Please note: attaching the discharge authority to the workspace does not allow Dentons to formally accept the date unless instructions have been received. Where security documents have not been received within 5 business days of settlement, Dentons may need to push the settlement date out. DENTONS Payout Process   Dentons does not receive Indicative payout figures. Final Payout Figures are confirmed on the morning of settlement by 11:30am Please do not escalate unless final payouts are not in the PEXA workspace post 11:30am the day of settlement Surplus Funds   Dentons preference is for the practitioner to manage any surplus funds in PEXA Surplus funds can only be accepted if the Lender agrees to accept surplus funds ING –matter by matter basis Transfer - Purchase (Incoming Mortgagee)   How to initiate a Purchase request:     Dentons will accept a workspace invitation once the lenders instructions have been confirmed.   Dentons cannot accept settlement date and time until all loan and mortgage documents have been received from the Borrower and all the Lender’s requirements have been met.  When all documents have been received by Dentons, we require four business days to book in the settlement date and time. Dentons requests the following details on the PEXA invitation: Dentons Reference (if available) Lender name Loan number/ Application number Full name of the borrower Security Address Preferred Settlement Times (AEST/AEDT) Dentons preferred settlement time is 3pm onwards. Please note: On settlement day, Dentons requires lender funds to be cleared in their trust account to be able to verify for funds for settlement. Transfer of Land (TOL)   Please ensure the TOL document is prepared as soon as possible, preferably at the time of workspace creation, or at least 5 business days prior to settlement. Please notify Dentons if the TOL is changed, as we will need to seek clarification from the Lender prior to proceeding to settlement. Funds Available for Settlement The source funds are uploaded to the PEXA workspace when all relevant loan documents have been signed, completed and returned to Dentons; together with all pre-settlement conditions being met. Requirements before Booking Settlements    All loan and mortgage documents must have been received from the Borrower and all the Lender’s requirements met before booking a settlement. Please refer to your individual initial letter for the Lenders settlement requirements.    Once the loan and mortgage documents and requirements are received – they will be processed by Dentons within 48 hours.    Total Funds Required for Settlement  Please provide total funds required for settlement as soon as possible or ideally 2 days prior to settlement If the Lender has the capability to provide Borrower Funds for settlement and the Borrower has provided the required authority to debited the account, the account details will be updated in PEXA on the settlement date Dentons provide the total funds for settlement. PEXA Update December 2020: If a workspace is settling using the new Enhanced Settlement Summary (currently being rolled out via a phased deployment) TFRS will not be required. The alternative requirements are to agree funds due for settlement and select ready for shortfall or surplus. More details are available here: community.pexa.com.au/t5/Help-Centre/PEXA-s-Enhanced-Settlement-Summary/ba-p/20957. Dentons will be updating this checklist to reflect the new ESS process in early 2021. Settlement Date Acceptance  Dentons will accept the settlement date and time when all pre-settlement conditions have been met.   Dentons require at least four business days' notice to book a settlement. Failure to meet this timeframe may impact Dentons’s ability to settle on the preferred settlement date and time.     Loan Proceeds Loan Proceeds will be finalised and confirmed by Dentons at least 1hr prior to the scheduled settlement time unless otherwise indicated. Note: Late receipt of documents, pre-settlement conditions and funds can impact this timeframe. Shortfall of Funds Dentons may not hold authority to debit a borrowers account for shortfalls of funds required for settlement.    If the borrower holds an existing account with the Lender, please contact their broker/Lender to discuss further options and/or provide the required completed and signed authority to Dentons.   Day of Settlement Please have your documents and your adjustments on the financial settlement schedule finalised prior to 10am on the day of settlement. Any amendments made to the financial settlement schedule (post Dentons or practitioner adjustments being signed off) will result in Dentons needing to re-confirm loan proceeds available which could cause settlement delays. The financial settlement schedule in the workspace will only be verified and signed once funds have been received (usually after 1:30pm) from the Lender.      Please leave a comment or question below if you have found this useful, or if you would like further information.     ... View more

PEXA would like to advise members that it has identified phishing attacks directly targeting buyers and sellers. In these instances, automated or “robo” calls are being made to consumers, with the aim of extracting information relating to settlement.   In some cases, these parties are falsely presenting as PEXA. Scammers can often obtain client information through publicly available sources or  intercepted/compromised email accounts.   PEXA will never contact your clients directly – and we recommend you reinforce this message at this time.   We suggest that members take steps to ensure communication with your clients is secure.   We encourage you to make use of PEXA Key for the exchange of account details. Additionally, please refrain from using email to distribute sensitive information.   Please reach out to us if you have any questions or would like any assistance:  security@pexa.com.au . @DavidWillett  ... View more

Hi Community,   The NSW Office of the Registrar General (ORG), NSW Land and Registry Services (NSW LRS) and PEXA are continuing to expand the number of instruments that can be lodged electronically.   As part of PEXA’s Release 13, scheduled for go-live on Monday 9 November 2020, 24 new Residual Documents will be released – which can be created and lodged in PEXA. The full list is outlined below:   Application for Preparation of Lapsing Notice by a Registered Interest Holder – form 08LX Application for Preparation of Lapsing Notice by a Registered Proprietor – form 08LX Application for Preparation of Lapsing Notice by an Applicant – form 08LX Application for Preparation of Partial Lapsing Notice by a Registered Interest Holder – form 08LX Application for Preparation of Partial Lapsing Notice by a Registered Proprietor – form 08LX Application to Record Writ – form 09W Bankruptcy Application – form 04BAP Cancel Recording of Writ – form 09WW Cancellation of Easement – form 20ECE Determination of Lease by Re-entry – form 11R Extinguishment of Easement – form 20ECE Extinguishment of Positive Covenant – form 13PRE Extinguishment of Restriction on the Use of Land – form 13RRE Modification of Positive Covenant – form 13PVM Modification of Restriction on the Use of Land – 13RVM Notice of Proposed Acquisition – form 11R Release of Positive Covenant – form 13PRE Release of Restriction on the Use of Land – Form 13RRE Removal of Expired Lease – form 11R Transfer Granting Easement etc Over Own Land – form 01TO Transfer Granting Easement in Gross – form 01TY Transfer Granting Easement – form 01TG Variation of Positive Covenant – form 13PVM Variation of Restriction on the Use of Land – 13RVM Supporting resources PEXA: more information on lodging Residual Documents is available here. NSW ORG: an updated Schedule of eDealings is available here. NSW LRS: an announcement on the change is available here. If you have any questions regarding this, please reach out to us. ... View more

Digital property settlement is one of Australia’s most innovative success stories. As the first country globally to digitise its property exchange process, we’ve been able to deliver Australians a fast, safe and more efficient property settlement experience. From a standing start, today more than 70% of all land transactions are completed electronically. PEXA is proud to be helping more than 20,000 families a week settle safely on their homes, in partnership with our members. The fact that we’re beginning to see new ELNOs emerge within our industry is a strong reflection of the progress that’s been made nationally in transitioning to a digital environment. The essence of competition is to promote positive consumer outcomes, particularly regarding price, innovation and service. This is completely aligned with our values at PEXA and we’re fully supportive of any market structure that encourages this. Government and industry stakeholders are currently evaluating next steps in relation to proposed reforms that would require ELNOs to make their systems interoperate with one another in an attempt to promote further competition in the ELNO market. Below you’ll find some FAQs regarding potential future interoperability within our industry.   How would interoperability work? Interoperability is an umbrella term for various proposed technical solutions that would link ELNOs’ systems, enabling the preparation and settlement of transactions across multiple platforms. Proponents of interoperability advocate that it would enable competition by allowing Subscribers (conveyancers, lawyers, or financial institutions) of one ELNO to complete transactions with Subscribers of another ELNO, without having to subscribe to both. Does PEXA support interoperability? PEXA supports competition and will support any reforms that foster a competitive dynamic between ELNOs so long as it doesn’t introduce additional risk, cost or complexity for our members and their clients. Having collaborated with industry for a decade to make e-Conveyancing a reality, we know that our members want to build upon the greater security, efficiency and resilience that digital property settlements enable, and which Australian consumers have come to expect. We must also ensure that e-Conveyancing continues to have national application, nurtures competition beyond entrenching a duopoly and provides the flexibility for ELNOs to continue innovating and delivering value back to the Australian community. PEXA is actively participating in industry forums to help inform these discussions and we continue to advocate for a national solution – and an outcome that is best for you. If it is determined that interoperability is the right solution, without disadvantaging industry members or consumers, PEXA will fully support it. Is there a timeline for interoperability? In a Ministerial direction published in September 2020, all states and territories indicated support in principle of a roadmap to introduce interoperability by the end of 2021. There is still significant regulatory and technical progress to be made before interoperability can be introduced, with more work required to develop the technical models under consideration, the frameworks required to manage any increased risk and associated liability issues that will be introduced and the regulatory amendments that will enable reform. PEXA will continue to advocate for an outcome that is in the best interests of our members and Australian consumers and will keep members up to date with the latest developments. How can I find out more about interoperability? Reach out to us at industry@pexa.com.au and we’ll get back to you as soon as possible. We’ll continue to communicate with members as new developments arise – we should be able to provide a more detailed update in the near future. Until then, keep an eye on this page and reach out to us if you have any questions. ... View more