The property and conveyancing sectors have substantially changed over the past few years. Not only has technology altered the way in which such transactions are conducted, these matters are now effectively instantaneous, with additional safeguards and further requirements necessary in order for parties to engage with such forums.
In recent times, PEXA has brought about the demise of paper Certificates of Title, ceased the traditional manual paper lodgments for registration of documents and allowed for remote access for individuals in the legal and conveyancing spheres.
PEXA, since its inception in October 2013 has gradually extended its reach and is now the sole platform for commercial and personal transactions for conveyancing and leasing matters. Whilst this software platform has provided added capabilities for clients and practitioners alike, there are now added requirements in order to successfully register documents, specifically Leases via PEXA.
Such key changes raise many pertinent questions surrounding the conditions to register a Lease, noting that many registrations are completed by firms on behalf of individuals/companies who are parties to the transactions.
It is essential that any practitioner or conveyancer obtain the following documentation, and have this signed and dated before creating a PEXA Workspace, attempting to invite parties to participate and aiming to register a Lease via PEXA:
a. Client Identification – Identification is required to not only confirm an individual’s identity, but must also be certified by a legal practitioner/conveyancer by sighting the original identification document/s. There are a number of applicable categories in order to complete this requirement and such identification can be held on record and utilised for similar matters for two (2) years from the date that the identification was certified.
b. Verification of Identity Form – This is completed in conjunction with obtaining the client identification. The form stipulates the necessary conditions which must be met and details the acceptable forms of identification that can be provided. Most commonly and simply this includes a verified copy of drivers’ license and passport.
c. Client Authorisation Form – This form enables the firm to register the Lease on behalf of the prescribed client as this identifies the nature of the transaction and grants the requisite authority for the practitioner to act in the PEXA workspace (once executed and dated by the client).
There are further requirements for Transfers of Lease, Surrenders of Lease, Variations of Lease and other similar transactions, which are dealt with on a case by case basis. It is paramount that practitioners and clients are aware of each other’s obligations when aiming to register Leases via PEXA.
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