When acting for a vendor on a PEXA transaction, we usually hold the original certificate of title where the title is unencumbered. Following a PEXA settlement, what happens to the vendor's original title. Should we retain it, as supporting evidence, for 7 years. Or should we send it to the purchaser's solicitor and write 'cancelled' on the original?
Have checked the PEXA participation rules but the answer is not clear.
It is also not clear from the standard form contract (2018 version).
Thank you in advance,
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