1 CONVEYANCING TRANSFORMED | END TO END E-CONVEYANCING HAS ARRIVED
“ Stewart Title enters into strategic partnership to enable PEXA to take lodgement gap cover ”
Lodgement Gap Cover With the backing of Stewart Title Limited, PEXA will assume responsibility for any ‘intervening’ instruments or notices lodged by a third party during the ‘ lodgement period ’ which have the effect of preventing the registration of the customer’s land title dealing or taking priority over the customer’s land title dealing once registered.
Lodgement Period explained.. Lodge dgement ent Period riod means the period beginning from the time of receipt by the subscriber of the last successful Title Activity Check (TAC)… and ending on the lodgment of the Insured Dealing at the relevant land titles registry.
Action and Cost • This cover is applied by default to all settlements completed through PEXA. • There is no required action or additional cost to you or your clients.
Additional covered risks covered by Title Insurance - Cover is available to your clients through a title insurance policy which insures against the following risks: • Unapproved building work • Unregistered easements/covenants • Boundary defects/encroachments • Claims of possession or interests in land by third parties • Unpaid rates & taxes • Outstanding orders
Types of Illegal Building Work - • Removal of load bearing walls • Illegal drainage • Addition of rooms in roof space • Addition of balconies, decks, pergolas • Illegal wiring • Conversion of structures into habitable rooms
Ordering a Title Insurance Policy Order a policy through any of the following search providers: • Infotrack • Global X
Payment of a Policy through PEXA First step is to add a destination financial line item Enter Stewart Title Reference Number
Payment of a Policy through PEXA
Title Insurance… A risk management tool for purchasers and solicitors in conveyancing transactions.
Panel Session CONVEYANCING TRANSFORMED | END TO END E-CONVEYANCING HAS ARRIVED 14
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