About GeorgePolus

Hi Peta,   Lodgement Fees are returned to PEXA from the Land Registry at Lodgement Verification.    The Settlement Date is passed by PEXA to the jurisdictional Land Registry at Lodgement Verification which is used by the Land Registry as the 'Intendend lodgement date'.  The Land Registry uses the intended lodgement date to determine and return the lodgement fee to PEXA that WILL BE IN EFFECT on the date of settlement.    You are correct to be concerned if the Lodgement Fees returned to PEXA by the Land Registry appear incorrect.      The best thing to do will be to invoke lodgement verification.  You can do so by making an update to one of your documents.   When lodgement verification returns, the fee in effect on the date of settlement will be returned.   (Be sure to return to the document and correct the data you updated - lodgement verification will be invoked once again).    If you believe the lodgement fees are incorrect following the above, please let me know the jurisidction you are working in and I will investigate and get back to you.   PEXA Fees work in a similar manner to lodgement fees.  However, unlike lodgement fees, if PEXA documents are signed with the 'old' PEXA Fees, we will never fail the transaction at lodgement.   Please let me know if you have more questions.     ... View more

Hi @Sandcorp   We are always keen to hear feedback, both positive and not so.     I will respond to your specific issues below.   We will take your feedback on board and see how we can improve the user experience.   Item 1: "we cannot finalise our tasks in the system until this (banks have completed their tasks) is done so I have to stop working on other files to keep watch on PEXA." Item 2:  “The financial settlement page is completely hopeless. When representing a vendor we why do we need to see  stamp duty, transfer fees, the purchaser's representatives fees, the purchaser's PEXA fee.  We can't update the destination until the bank have entered the payout figure even when the bank are collecting all funds.”  PEXA RESPONSE Waiting on the bank to provide the loan payout.   As part of the PEXA Community, banks have agreed to work to protocols for completion of tasks.  For payout figures, banks are working to complete entry of loan payout figures by 10:00 AM on the morning of settlement.  You can find industry protocols here:   A new feature in PEXA allows a Vendors representative to complete and sign the Financial Settlement Schedule (FSS) prior to entry of the Loan Payout. The feature allows the Vendor Surplus to vary, within a tolerance specified by the vendors representative, as a result of entry and signing of the loan payout without un-signing the Vendor Surplus line item.   Click here for more information:  All Participants having to sign Lodgement Instructions In recognition of the constraints placed by the orchestration of signing Lodgement Instructions upon PEXA users, the Australian Registrars Working Group recently agreed that only the Responsible Subscriber need sign Lodgement Instructions.  As part of PEXA Release 7.0 (Nov 2017), and in conjunction with each jurisdictional Land Registry as they are required to make the reciprocating software change at their end, a change will be implemented so that only the Responsible Subscriber need sign Lodgement Instructions. PEXA Settlement Adjustments Calculator PEXA has developed for Practitioners an Adjustments Calculator.   The feature is under trial.  @DougPun will provide more info for you.   ITEM 3:  “Why does the vendor's representative sign the Notice of Acquisition? How can I truly sign that this is correct when cannot verify half the information such as the purchaser's date of birth, future address?” PEXA RESPONSE The business rules surrounding Document data requirements, data validation, digital signing and certification are specified by the jurisdictional Revenue Office / Land Registry that owns the Document.   The business rules for the NOA are defined by the VIC SRO.  PEXA must abide by these rules.   We are constantly working with our jurisdictional colleagues and community members to learn how we can meet statutory requirements while providing the best possible user experience.  Thank you for your feedback.  If you have more questions, please let me know.      George, PEXA  ... View more

Hi Caroline,   Land Use Victoria (LUV) will always send a Registration Confirmation Statement to the PEXA Subscriber receiving CT Control upon registration of a dealing.   As a Panel Lawyer, if your organisation lodges a Mortgage while representing your Panel Master (stand-alone or as part of a ReFI or Transfer) then as the lodging party your organisation will receive CT Control and will receive a  Registration Confirmation Statement.   When you Transfer CT Control to your Panel Master, your Panel Master will receive Registration Confirmation Statement upon registration of the Transfer of CT Control.    But watch this space.  From November 2017, a new feature will be enabled which will allow a Panel Member as Lodging Party to direct CT Control the Panel Master they represent in a given dealing.     So, from November, as a Panel Lawyer, if your organisation lodges a Mortgage while representing your Panel Master (stand-alone or as part of a ReFI or Transfer) then as the lodging party your organisation will be able to direct CT Control to your Panel Master (as part of the Lodgement Instructions for the Case containing the Mortgage).  Your organisations Panel Master will then receive a Registration Confirmation Statement for receipt of CT Control.   Let me know if you need more info.  ... View more

Hi Barry,   Transfer of CT Control will be deployed as promised in PEXA Release 6.1 on July 24, 2017.     In the first iteration (Rls 6.1) a Party in possession of CT Control will be enabled to create a Transfer of CT Control passing CT Control to another PEXA Subscriber.   This is known as the 'Push' model for Transfer of CT Control.   NOTE:  As part of Rsl 6.1 we have also built automation functionality which will allow many hundreds of title references to be uploaded and automated creation of Transfer of CT Control.      Approximately 6 weeks thereafter (Sept 2017)  PEXA will release the 'Pull' model for Transfer of CT Control.  In this model a Panel Member may request CT Control be passed to it by its' Panel Master.   Once again the automation feature will allow upload of many hundreds of title references and auto creation of transfer of CT Control.   In November 2017, as part of Rls 7.0, Land VIC will make a number of updates also.    Allow a Panel Member to direct CT Control to a represented Panel Master via Issuing Instructions in the Lodgement Instructions.   (For example, when a Panel Member is acting in the role of Incoming Mortgagee for a Panel Master, the Panel Member may direct CT Control to the Panel Master as part of the Mortgage lodgement case, as opposed to completing a separate lodgement to Transfer CT Control). Remove the requirement for a Participant in possession of  CT Control to Nominate a Title to an electronic Lodgement Case.    ... View more

Hi Richard, There are two components to dealing with trustees in QLD.  1.  Trustees coming off title In short, this functionality is planned to be implemented this year.  QLD SRO are confirming when they will be able to accept Party Capacity values (Trustee) as part of Stamp Duty Verification. 2.  Trustees coming on title QLD legislation requires that supporting evidence (in the form of a Trust Deed) be presented by the transferee as part of lodgement.   PEXA is working with all jurisdictional land registries to enable PEXA lodgements to be completed with supporting documents (PDF format).   Together jurisdictional land registries and PEXA are working to a 100% digital lodgement.      Stay tuned, we will communicate more on this topic when planning is firmed up.    ... View more

Hi PEXA Community.   My name is George.  You may have seen some of my posts on Community.   I am looking forward to Ask us Anything next Monday.    If you have questions about registry instruments, transaction scope, timing for delivery of new instruments, or how PEXA settlements work please feel free direct your question to me.    I look forward to exchanging thoughts and ideas with you all.    George Polus Head of Product Enablement  PEXA.  ... View more

Hi @BGoodwin It is correct that the VIC Registrar will not allow a party to be represented as CT Controller.     That said, Land VIC together with PEXA have been working together to streamline the Nominations and management of CT control processes.  In short there are five initiatives on the table for implementation in 2017.  Socialisation with Law Firms and Financial Institutions has been conducted throughout January.  The exact timing for deployment of new features will be communicated by end Feb.  The five initiatives are:   Eliminate the need for a Nomination when a CT Controller is the transacting participant in a PEXA workspace. Leverage knowledge of CT Controller and Transacting Party role to identify: Participants eligible to lodge a Nomination Automate the creation of a Nomination Predict default values for CT direction Electronic Transfer of CT Control Provide for transfer of CT Control in PEXA Enable bulk transfer of CT Control in a single Document. Enable automation for rapid data entry Enable assignment of CT Control to a represented party where a panel member is representing a panel master. Streamline Nomination creation process If you are keen to participate and provide input to the socialisation process for the streamlining of the Land VIC Nomination process, please respond to my private message and we will be in contact with you.  ... View more

Hi DMc I will first respond to your excellent question about how PEXA manages workspace data changes during the interval while documents are being signed.   When a document is to be signed PEXA assembles the requisite data from the workspace to render the instrument to be signed.  The assembled data is rendered for viewing according to the specification of the jurisdiction to which the instrument applies.    When the 'sign' button is pressed PEXA completes external validation of the digital certificate and, if valid, applies the digital signature to the instrument(s) selected for signing.   Immediately following application of the digital signature PEXA regenerates the data from the workspace for each instrument signed.  This data is then compared with the data in the 'just signed' instrument(s).     If the comparison identifies a discrepancy, PEXA will notify the user that workspace data has been updated during the interval and the affected instrument(s) will be 'un-signed'.   If the comparison confirms the signed data is a 100% match with 'current' workspace data, the instruments will remain signed.   Now to your first point about data retention.   PEXA is regulated by ARNECC who own and publish the MOR (Model Operating Requirements),  This document is publicly available.  Under the MOR (Clause 19.1) PEXA is required to store workspace data indefinitely.   Accordingly we have designed PEXA to make workspace data available to workspace participants for at least 7 years. At any time following lodgement or lodgement and settlement you may return to a given workspace and view / print lodged and registered instruments, and / or the settlement statement and settlement completion record.   This capability is specifically designed to allow you to use PEXA as your electronic filing repository.     Please note however, that as part of signing the signatory will certify that they have retained evidence supporting each registry instrument or document submitted for electronic lodgement.     Currently such evidence must be retained by the lodging party in paper.  But - watch this space.  In 2017 PEXA will be releasing new functionality to enable subscribers to upload and store supporting evidence and other attachments.                     ... View more

 Hi DMc,    We are genuinely grateful for the feedback you have provided.  These are both excellent observations highlighting how we can improve the overall PEXA User experience.  We will most certainly take your suggestions into account as part of our overall useability enhancements in 2017.    I would like to take this opportunity to let you know that in 2017 PEXA will be working hard to bring not only extended functionality to the PEXA community, but we will have a strong focus on useability enhancements.   Through feedback and suggestions such as yours we have identified that streamlining of digital signing is one of our top priorities.     I would like to understand more about your requirement for printing / emailing of lodged documents.  Are you seeking support for archival of lodged documents and or other workspace data? We genuinely appreciate that you have taken the time to communicate with us and offer your feedback.  Please continue to do so.      ... View more

Hi Ross,   When adding a 2nd or third mortgage, it is only required that the mortgagee is represented as Incoming Mortgagee - either self represented or by a representative under a client authorisation.     This is irrespective of whether the mortgagee has one or more registered mortgages already on title and also irrespective of whether the mortgagee has had a change of legal name since registration of the first of second mortgage.  I hope I have answered your question.  If not, please write back.   We will then seek to clarify any outstanding questions.   ... View more

Hi Cheryl Upon successful Lodgement the LTO will return to PEXA a status advice for the Lodgement Case of ‘Lodged’.  The status advice value of each individual Document (Dealing) within the Lodgement Case will also be ‘Lodged’.  The PEXA workspace will show the respective Lodgement Case, Document status values, Lodgement Date and Time and associated Dealing Numbers. Following Lodgement the LTO will examine the Documents (Dealings) in the Lodgement Case.   In most cases examination is automated and completes in minutes.  In some exceptions examination may be routed to an examiner and may take hours or days.   Once the LTO has completed its examination a second status advice for the Lodgement Case will be returned to PEXA.  This time the Lodgement Case Status will be ‘Completed’.  The status of each individual Document (Dealing) within the Lodgement Case will vary depending upon the results of examination.  In most cases each Document (Dealing) within the Lodgement Case will receive a status of ‘Registered’.  (Lodgement Verification provides PEXA users the best available assurance that a lodgement case will lodge successfully, which is why we can say in most cases lodged dealings will proceed directly to registration).   Some Documents (Dealings), administrative notices for example, may receive a status of ‘Recorded’, ‘Received’ or ‘Action Complete’.  The actual status values differ by document type and jurisdiction. If following Lodgement, examination results in one or more Documents (Dealings) being rejected for Registration, then the Lodgment Case Status will be returned as ‘Completed’ and the individual Document (Dealing) Status returned as ‘Rejected’. If following Lodgement, examination results in a requisition, then the LTO will contact the Responsible Subscriber.  The LTO will then work with the Responsible Subscriber to rectify the identified issue(s).  Upon completion of the Requisition process the LTO will return a status advice for the Lodgement Case to PEXA.  The Lodgement Case Status will be ‘Completed’.  The status of each individual Document (Dealing) within the Lodgement Case will vary depending upon the results of examination following the results of the requisition.      Finally, selected jurisdictional registries issue notification of successful registration to the responsible subscriber (lodging party).  This is over and above the notifications described above that the land registry sends to PEXA.  ... View more