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Settlement Notices

Settlement Notices

Settlement Notices

What can I do?

When transacting in Queensland, you can electronically complete a Settlement Notice.

A Settlement Notice protects the interest of incoming parties, such as a purchaser and/or the incoming mortgagee. This priority is valid for the interval between when the Settlement Notice is lodged and when the intended dealing is completed.

You may electronically lodge a Settlement Notice for a transaction that will occur in either the paper channel or electronically via PEXA. The channel via which you lodge the intended dealing has no bearing upon the standing of the Settlement Notice.

With a Settlement Notice, you are limited to specifying dealings which contain either a Transfer of Land or Mortgage. It is not possible, for example, to create a Settlement Notice to protect the interests of a Caveator intending to lodge a standalone Caveat.

Visit Settlement Notices in the e-Conveyancing Community for more details on how to lodge electronically. View the online training materials and practice completing a Settlement Notice using a 5-minute interactive tutorial.

Benefits

Benefits

What does this mean for me?

PEXA enables you to efficiently and cost-effectively prepare, digitally sign and lodge Settlement Notices.

Importantly, when you prepare the Settlement Notice for a PEXA dealing in the same Workspace, PEXA ensures the integrity of data (eg. party names) across the notice and the final dealing. The integrity of the data, as well as the lodgement verification that is completed through PEXA, gives you the best available assurance that the intended dealings will be lodged. 

Pricing

Pricing

What are the costs?

From 1 August 2017 the PEXA fee for Settlement Notices will be applied for all Settlement Notices completed electronically through PEXA. To align with the PEXA fee for Priority Notices in New South Wales and Victoria, the PEXA fee to lodge or withdraw Settlement Notices will be discounted to $8.80 per title ($8.80 per single title and $8.80 for multiple titles). This is a great saving from the current cost of $19.03 to lodge or withdraw a Settlement Notice for a single title and $32.45 to lodge or withdraw a Settlement Notice for multiple titles.

Pricing - Settlement Notices
PEXA Transactions Services Fees Single Title Multiple Title*
Settlement Notice $19.03** $32.45**
Withdrawal of Settlement Notice $19.03** $32.45**

*Related to multiple titles on the same registry instrument.
**Settlement Notices and Settlement Notice Withdrawal fees for single and multiple titles will be automatically discounted to $8.80 from 1 August 2017.

For more information on PEXA fees, please refer to our pricing schedule.

View Pricing

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