Whilst PEXA and the Electronic Lodgement Network (ELN) are already transacting in the 5 major States (VIC, NSW, QLD, SA and WA), both the requirements for practitioners and financial institutions, and the targeted mandate dates vary from State to State.
Further, practitioners and financial institutions need to be aware when the respective land titles offices will or will not accept paper lodgement of documents. The greatest risk borne by practitioners and financial institutions is that if documents are lodged in a manner inconsistent with the respective land title office’s requirements or outside of the mandated cut-off dates, the registration of securities by Mortgagees can often be delayed and lead to additional costs.
Due to the widely varying positions in each State, Gadens has prepared the following guidelines and scenarios, adopting a State by State approach, for practitioners and financial institutions to understand any lodgement issues as States and Territories align themselves with PEXA and the ELN. Please note the below guide only is not an exhaustive list. It is our strong recommendation that you treat each lodgement on a case by case basis.
New South Wales
Craig Green, Partner
Daniel Wangatau, Associate