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since ‎03-06-2016
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MeganTenn
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Latest Contributions by MeganTenn
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Re: Delay in Stamp Duty Payment

by MeganTenn Star Employee in Victoria
2 weeks ago
2 weeks ago
Hi @kcn,   Unfortunately this isn't possible when settling via PEXA.  Stamp duty must be paid at settlement and will come through to the PEXA Platform as a payment once the duty has been assessed.    If you would like to go through this process or have any further questions, please feel free to reach out to our Support Team (1300 084 515) or your PEXA Partner (if you have one).   Hope this helps!   ... View more

Re: Change in the Manner of Holding Option in PEXA

by MeganTenn Star Employee in Victoria
4 weeks ago
2 Likes
4 weeks ago
2 Likes
Hi @migration_harrysonglawyers,   A change in manner of holding can be done via a Transfer of Land.  Simply represent the proprietors on title on the participants screen, create the transfer of land and when selecting the Transferees, you can select the current registered proprietors again, but in their new manner of holding (e.g. if currently registered as tenants in common, you can now select joint tenants).    There is also an option under consideration to change from 'Monetary' to 'Change in Manner of Holding'.   Hope this helps! ... View more

Re: Stamp Duty post settlement

by MeganTenn Star Employee in Victoria
‎20-01-2021 11:58 AM
1 like
‎20-01-2021 11:58 AM
1 like
Hi @Cyndal,   Thanks for reaching out.  Unfortunately the way that PEXA and the Duties Online system are integrated, the stamp duty payment is automatically generated into the Financial Settlement Summary and must be paid at settlement.  The payment cannot be deferred for a later date, even if the assessment is complex.   Hope this helps!   ... View more

Re: Land Use Victoria - Guide to submitting a pap...

by MeganTenn Star Employee in Victoria
‎13-11-2020 09:47 AM
1 like
‎13-11-2020 09:47 AM
1 like
Hi @Keelins,   The Land Registry recently made a change, so only one Applicant/lodging party needs to be added to the Participants screen in the workspace for the purpose of completing the S104 document.  The paper instrument(s) that you attach to the S104 will need all applicable Applicants/lodging parties.   Hope this helps!   ... View more

Re: Transfer from individuals to individual truste...

by MeganTenn Star Employee in Ask the PEXA Community
‎09-11-2020 03:31 PM
‎09-11-2020 03:31 PM
Hi @mel1 ,   If you need to register the Transfer with the Land Registry, you can do this by creating a workspace as Proprietor on Title, representing the individuals, adding a secondary role as Incoming Proprietor and creating those individuals again, but including the Trust details on the Participants screen.  Once you create the Transfer and Aquisition, you will be able to stamp the transaction as complex on Duties Online.   If you don't need to register the Transfer with the Land Registry, then you may be able to lodge a paper transaction through DOL complex stamping, just with the paper documents required.  It will all depend on the requirements of the Land Registry and State Revenue Office as to whether they want a new transfer registered or just stamped, as the registered proprietors are not changing and Trust details don't get registered on title in Victoria.   If you need any assistance with this, please do not hesitate to contact our Support Team (1300 084 515) or your PEXA Partner directly.   ... View more

Re: Nomination to SPEAR Transaction

by MeganTenn Star Employee in Victoria
‎06-11-2020 03:26 PM
‎06-11-2020 03:26 PM
Hi @GeorgieKLP,   Thank you for reaching out, I know this one can be a little bit tricky.   When lodging a S104 Residual Document (or SPEAR transaction) through PEXA, you need to convert the paper title to electronic first by emailing the Land Titles Office (LTO) and asking them to convert it.  You can only convert a paper title to electronic via PEXA if you are lodging a standard document, e.g. a Transfer.    Once the LTO have converted the title to electronic, you will need to open a new workspace (separate to the S104 workspace) as CT Controller with the title particulars and no financial settlement.  Once created, go straight to the Documents screen, create Nomination to paper instrument, name the document you are nominating it to (what you are lodging via the S104) and the parties named in that document.  Save and sign.   The most important thing to remember is to convert the title to electronic first and nominate the title before you lodge the S104.   If you ever have any questions about completing a S104, or anything else, please feel free to reach out to the PEXA Support Team or your PEXA Parter/PDS directly.  We're always more than happy to help!  ... View more

Re: Rectifying a requisition in PEXA.

by MeganTenn Star Employee in Ask the PEXA Community
‎11-02-2020 03:46 PM
‎11-02-2020 03:46 PM
Hi @KR,   The Requisition from the Land Registry will outline a couple of options for you, depending on the type of requisition.  The most common options are to request the LR to cancel the transaction via PEXA, also cancelling the current nomination from their end, and submit the paper form with the required amendments.  Or you can request the LR cancel the current transaction and re-submit via PEXA again.   I would recommend that you wait until you receive the Requisition Notice from the LR as they may provide you with other options.   Hope this helps! ... View more

Re: Transfer of CT Control Guide | Help Centre

by MeganTenn Star Employee in Help Centre
‎08-01-2020 12:03 PM
2 Likes
‎08-01-2020 12:03 PM
2 Likes
Hi @AeYco,   There are two ways you can provide eCT control to a bank for the purposes of registering a mortgage:   1. You as the eCT Controller can create a separate workspace, create a document called Transfer of eCT Control, select the bank you are transferring control to and once the bank accept the invitation from their end, they will have control of the title; or   2. The bank can create their mortgage workspace, invite you in as the CT Controller, you create the nomination of title to their mortgage and once the mortgage is lodged, eCT control will transfer to the bank.   In your above example, the bank have opted for option 2, so all you need to do is wait for the bank to create their mortgage first, then create and sign a nomination - selecting "no" to retaining eCT control after the transaction - and the bank will be able to select how they want the title issued back to them.     Hope this makes sense, feel free to reach out if you need anything further! ... View more

Re: VIC- Transmission and Survivorship

by MeganTenn Star Employee in Ask the PEXA Community
‎28-10-2019 11:22 AM
3 Likes
‎28-10-2019 11:22 AM
3 Likes
Hi @JessHall,   Great question!  In Victoria you can complete a Transmission Application where both parties are deceased, as opposed to a Suriviorship and then a Transmission, following the paper format.   When creating the Transmission document where multiple parties are deceased, it will ask you which party is the 'Primary Deceased'.  This is the party who passed away most recently.   Hope that helps!  ... View more

Re: Purchaser Caveat - unrepresented Caveator merg...

by MeganTenn Star Employee in Ask the PEXA Community
‎09-08-2019 03:01 PM
‎09-08-2019 03:01 PM
Hi @Yvette,   Depending on the setup of the Caveat (in this case, Purchaser's Caveat), a withdrawal of caveat may not be required and the parties can remain unrepresented.  Depending on the Land Registry rules of the State, the caveat may automatically lapse. If the Caveat needed to be withdrawn the parties would need to be represented, but an additional role of 'Caveator on Title' would need to be added to the workspace.  As you are in the role of 'Incoming Proprietor' you cannot represent a party in another role without adding that role first.     I hope this helps!  ... View more

1 Millionth Transfer Transaction completed by Floo...

by MeganTenn Star Employee in Share your Experiences
‎23-07-2019 02:08 PM
7 Likes
‎23-07-2019 02:08 PM
7 Likes
CONGRATULATIONS to the team at Flood Chalmers Meade Lawyers on completing the ONE MILLIONTH transfer transaction in PEXA for EOFY 2019!   These ladies completed their first transaction back in April 2017 and have come a long way since then, completing over 250 transactions during that time.   We hope you enjoy your gifts and keep up the amazing work!    ... View more

Re: Understanding Nominations of Title (eCT or pap...

by MeganTenn Star Employee in Ask the PEXA Community
‎31-05-2019 04:39 PM
2 Likes
‎31-05-2019 04:39 PM
2 Likes
Hi @Eliza,   If the document is being lodged via PEXA, then you will need to be invited into that workspace as the CT Controller so you can nominate the title, making it available for the transaction within the workspace.     If the document is being lodged via paper and you have a paper title, you will need to hand over the paper title at settlement, as usual.   ... View more

Re: PEXA source account

by MeganTenn Star Employee in Ask the PEXA Community
‎31-05-2019 09:30 AM
2 Likes
‎31-05-2019 09:30 AM
2 Likes
Hi Louise,   Great question!  When lodging a Transmission or Survivorship Application via PEXA, the fees are setup to direct debit from your office account, so you do not need a trust account for these types of standalone transactions.   If you are lodging a transfer to beneficiary, as there is a settlement date associated with this transaction, funds cannot be debited from office, but you can use the PEXA Source Account to cover the cost of this type of transaction.   You can find further information about the PEXA Source Account here: https://community.pexa.com.au/t5/Ask-the-PEXA-Community/PEXA-Source-Account-Critical-Information/m-p/7585#M1529 ... View more

Re: Transfers: Who Should Do What, When

by MeganTenn Star Employee in Announcements | Outages, Service Charter updates etc
‎19-12-2018 02:08 PM
4 Likes
‎19-12-2018 02:08 PM
4 Likes
  TRANSFERS: WHO SHOULD DO WHAT, WHEN     We received quite a few questions across the three webinars. We have collated the most frequently asked questions and responses below.     Q:  How should the Discharge Authority be provided to the Mortgagee on Title?     A:  Please  refer to the Bank Transfer Tips and Discharge Authority (DA) preferences, to check where the DA should be sent. Links to these pages are available  at the end of this post .     I n addition to forwarding the DA to the  m ortgagee  via their preferred channels ,  we   recommend that you  upload the DA to  the  Files  screen within the  workspace.      You should also  tick the checkbox “D i s charge Authority s ent”  on your workspace summary screen if the DA has been sent to the mortgagee.     Q: We need the  banks  to be more responsive with conversations.     A: The  banks  acknowledge there is room for improvement in this area and are looking at new and innovative ways to support and streamline their processes.     In the meantime, we would like to provide some context and background. Major  banks  can receive over 1,000 conversations each per day  (as at 18 December 2018),  with approximately 75% of these marked as high importance.      To minimise the number of messages each party receives, please send conversations to the relevant participants only. Please mark messages as high importance only on the day of, or day before settlement. Ensure that you are not asking a Bank to complete a task outside of  the  Guideline s time frame .      Q:  Banks  are slow to upload payout figures and surplus funds.  Is this being addressed?     A: Our most recent data shows that 84% of final payout figures are entered by 10am day of settlement. Surplus funds can only be entered once the Practitioner has advised the amount of surplus available for collection. Banks have  a number of  initiatives, processes and system changes underway to streamline completion of the  F inancial Settlement Schedule .       It is also important to note that while t his  may appear to be a simple process ,  there are complexities to be aware of.     For example, the provision of payout figures by 10am are challenging in more complex scenarios involving partial discharge or substitutions/swaps and linked or simultaneous settlements,  or  where there is last minute activity on the loan account.       Sometimes th e reason for  delay  is  not evident to all participants in the workspace.  This can include   scenarios  where the discharge authority is received late ,  or when last   minute changes are requested by the customer .        Payout figures are a key focus for the  banks  and new functionality will arrive  in the near future  to further drive efficiency in this space.      Q:  Banks  are signing things last minute. Is this being addressed?     A:  We are working with the banks to develop tools for greater visibility  over  workspace status and enhanced workflow management.    Similarly, new functionality will be implemented soon to assist practitioners with identifying when tasks should be completed relative to Transfer Guidelines.      We are also developing additional notifications and alerts  within  the workspace to help parties identify outstanding steps and action them in a timely manner.      Just as the banks work to refine their processes, it is important for practitioners to ensure they  a re ready to go ahead of time. Continued collaboration between all parties in a workspace will ensure the smoothest possible transaction.     Q:  Are there any consequences for breach of the Transfer Guidelines?     A: The Transfer Guidelines have been developed to assist members with what they should be doing, and when, to help ensure the timely and successful completion of a PEXA settlement.      Banks have  requested   and  currently receive regular reporting on adherence to Guidelines to indicate areas that need improvement.      The Industry will be revising  the  Guidelines in early 2019, which will build in more robust requirements including guidance on timing and completion of tasks.     Q: Can the PEXA fees go in earlier?     A:   In order for  PEXA  fees to be automatically populated in the ‘Adjustments and  Payments“ tab  on the settlement screen, all of the documents need to have passed lodgement verification.     Lodgement Verification is the process where the documents are reviewed and returned from the Land Registry with a Document Verification Result, at which point the PEXA  fees  and lodgement fees are returned.      The earlier parties have their documents prepared and verified, the earlier the fees will generate in the workspace.     Q: Who should enter the payments to  the authorities and w hen should they be entered in?     A:  There is currently no Transfer Guideline around who should enter the payments to the authorities.  Some practitioners will enter it as the Incoming Proprietor to match the process for paper, where the Purchaser’s representatives would collect the cheque at settlement.  Some practitioners enter the payments as the Proprietor on Title  to  show they have approved the adjustments.     This is a matter we intend to address in the next version of the Transfer Guideline s .      Links   Transfer Guidelines   Bank Transfer Tips   Discharge Authority preferences   The Bank Blog   ... View more

Re: Part Tenancy Transfers - VIC

by MeganTenn Star Employee in Help Centre
‎03-10-2018 02:08 PM
1 like
‎03-10-2018 02:08 PM
1 like
Hi @NY2201,   When creating a workspace from a Proprietor on Title role solely, the Transfer of Land is only required to be signed once by the practitioner on behalf of both Proprietors, including the one remaining on title.   Kind regards, Megan Tennyson PEXA Partner (VIC) Partner Program  ... View more

Update Requests: On-Sale FSS & Dashboard Conversat...

by MeganTenn Star Employee in Ideas and Suggestions
‎07-06-2018 10:44 AM
‎07-06-2018 10:44 AM
Hi All,   A practitioner recently requested the following enhancements to the system, which I think would be really helpful:   1. When completing an on-sale in PEXA, the Adjustments & Payments (Destinations) should allow the Purchaser section to be split into two purchaser sections, one for the head contract and one for the on-sale.  That way the practitioners clearly know which funds relate to the head contract and which ones relate to the on-sale.  In particular as there will be two lots of stamp duty, transfer fees and PEXA fees for purchasers.    2. Although there is a conversations tab on the dashboard already, the reference view etc. is not always easy to understand.  It would be better if there was an extra column next to each individual matter on the dashboard when a new conversation comes through for that matter.  That way it will be easy to distinguish who it relates to.   Thanks!  ... View more
Category:
  • Financial Settlement

Re: Spousal Transfer without Financial Settlement

by MeganTenn Star Employee in Ideas and Suggestions
‎03-05-2018 09:27 AM
‎03-05-2018 09:27 AM
Hi @GeorgePolus,   I think the main improvement they are looking for is the allowance to pay for a standalone transfer from office instead of trust, as many firms won't get funds up front from their client when lodging a standalone.   Even if this could be a minor improvement - regardless of removing settlement time etc. - that way the transaction won't be delayed.  If there could be some sort of threshold where funds will be allowed to be drawn from trust.  A standard standalone transfer will cost $307.00 in VIC - 2x PEXA fee and a non-monetary transfer of $85.90.  This would improve the experience greatly for those family law and estate firms.   Thanks, Megan ... View more

Spousal Transfer without Financial Settlement

by MeganTenn Star Employee in Ideas and Suggestions
‎25-10-2017 04:48 PM
3 Likes
‎25-10-2017 04:48 PM
3 Likes
I recently encountered an issue when walking a firm through a spousal transfer for Victoria within the PEXA platform.  Ultimately we couldn't complete the transaction because the solicitor had already stamped the transfer non-dutiable for a paper transaction, which couldn't be reversed through duties online.  However we were experiencing some issues prior to this, namely:   In order to complete any stamping in PEXA you need a settlement date.  When completing a spousal transfer, in most instances you won't have a settlement date, it just goes through when the practitioner is ready. This was a clear title with the property being transferred from husband to husband and wife, so no funds were changing hand between the parties, other than the payment of transfer fees (minimal) and PEXA fees (minimal).  Once you select 'yes' to financial settlement, you only have the option to pay for this from your trust account or by a bank.  The firm did not have funds up front from their client as they were going to bill them following the transaction, meaning they would need authority to transfer office funds to trust to pay for the transaction to go through.   This firm in particular completes a number of spousal transfers for Family Law and Estates.  It is a regular occurrence that they will not get funds up front for a spousal transfer.  They wanted to know if we could make it possible to select 'no' for a financial settlement, allow stamping non-dutiable (only where the property is the client's PPR) and make payment of the fees from their office account if they come in under a certain threshold.  This would likely only be available in cases where the practitioners have a clear title, as once a bank is involved the fees/destinations become a little higher.   Obviously as more and more transaction types become available in PEXA we are going to come across these sorts of areas that have not yet been developed/not previously thought of and this firm, as well as a few others that I have spoken to, would be interested in exploring these options. ... View more
  • Tags:
  • Spousal Transfer
Category:
  • All State
  • Fees and Pricing
  • Financial Settlement
  • Lodgement
  • VIC

Re: Workgroups - view options

by MeganTenn Star Employee in Ideas and Suggestions
‎19-09-2017 05:16 PM
3 Likes
‎19-09-2017 05:16 PM
3 Likes
Hi @Marty   Thanks for your feedback!    Ideally, if the practitioners could add their users to any/all applicable workgroups that they need to be in (including any that they may be required to cover for in the future), then it would give the individual user the option to select the workgroup(s) they want to view at any given time.     This would mean the user can view workgroups they have permission for, but not workgroups they are not allocated to.  It also means they wouldn't need to see all files for all workgroups at the same time (which is how we currently have it), instead they could see just the files within a single (or multiple) workgroup(s) at any give time.   I imagine it would appear as a small box in the top right corner of the users dashboard, something like:   Workgroups:  [  View All  ]  [  ]                         [  Williamstown Workgroup  ]  [ * ]                         [  CBD Workgroup  ]  [  ]                         [  Geelong Workgroup  ]  [ * ]   So in the above scenario, the user would be able to see all files for Williamstown and Geelong, but wouldn't see the files for the CBD office, making it easier to locate the file they are looking for.   I'm just finding that there is a larger call for this as the use of PEXA expands within firms! ... View more

Workgroups - view options

by MeganTenn Star Employee in Ideas and Suggestions
‎14-09-2017 04:50 PM
9 Likes
‎14-09-2017 04:50 PM
9 Likes
I have received feedback from a few offices regarding the design and use of Workgroups within the PEXA platform.   They think workgroups are a good idea, however instead of adding individuals to a workgroup, so they can look after the files while another member of staff is away, they would like the option to view different workgroups from the Dashboard.  I.e. have a drop down list and the individual user can choose to see "all" (primary default), "property" "family law" "estates" etc.    This would be particularly helpful for practitioners that run different offices under the same registration. I.e. "CBD" "Williamstown" "Mornington".  That way if there is no one in one of those offices on any given day, the people in the other office can view those files without being added to the workgroup or having to view all files in the dashboard.   Practitioners would also like the workspaces to automatically list in date order. ... View more
  • Tags:
  • Platform
  • Practitioners
  • Workspaces
Category:
  • VIC

First Practitioner in Geelong to become PEXA Certi...

by MeganTenn Star Employee in Share your Experiences
‎18-08-2017 03:21 PM
‎18-08-2017 03:21 PM
Geelong Conveyancing have been one of the biggest advocates for PEXA in and around the Geelong area and I am proud to say that they are now PEXA Certified, after completing their 20th PEXA Transaction!   It has been a long road getting the Geelong area moving towards a digital future, with many practitioners weary of the changing process.  But not these lovely ladies, who have been encouraging other practitioners to transact, offering assistance and guiding others through when they have felt a little lost.   Santina was even a part of the focus groups that helped start PEXA and make it what it is today!   Congratulations ladies, our Geelong PEXperts!   Geelong Conveyancing become PEXA Certified!         ... View more
  • Tags:
  • Certified
  • Geelong
  • Pexperts
Category:
  • Certified

Linked Settlements for Inter-State Properties

by MeganTenn Star Employee in Ideas and Suggestions
‎03-07-2017 01:32 PM
3 Likes
‎03-07-2017 01:32 PM
3 Likes
I have had a number of practitioners lately ask if they can complete a linked settlement where they are not acting in the other transaction.  This is particularly the case with clients who sell a property in one State (e.g. NSW) and purchase in another State (e.g. VIC).   I know at this point in time we are unable to complete a linked settlement where the same subscriber is not acting in both the sale and the purchase, but would there be scope for this in the future, as I see it coming up more frequently.  ... View more
Category:
  • Other

CONGRATULATIONS - H.C Curwen-Walker

by MeganTenn Star Employee in Share your Experiences
‎02-05-2017 01:30 PM
8 Likes
‎02-05-2017 01:30 PM
8 Likes
A big CONGRATULATIONS to H.C Curwen-Walker & Daylesford Hepburn Conveyancing on becoming PEXA Certified and completing 50+ PEXA Settlements!   Fantastic work to all involved, always happy to lead the way for change, encourage others to transact and help practitioners through their settlements!   Good luck with the next 50!    @HCW-Julie @anita @HCW-June   ... View more

Re: Why not Invite SettleMe from PEXA workspace?

by MeganTenn Star Employee in Ideas and Suggestions
‎09-03-2017 03:26 PM
1 like
‎09-03-2017 03:26 PM
1 like
Even if we could add an additional tab to the bottom of the list within the workspace once the buyer/seller has joined SettleMe that would link the practitioner directly to the SettleMe web page so they can update tasks, or even be able to update tasks directly for the SettleMe tab.     Practitioners hate using multiple pages and programs to complete tasks, anything that can combine them all together would greatly improve their user experience. ... View more
Latest Tags
  • Spousal Transfer
  • Platform
  • Practitioners
  • Workspaces
  • Certified
  • Geelong
  • Pexperts
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