These terms are commonly used in electronic conveyancing.
Control of the Right to Deal (CoRD)
A party has CoRD when that party has authority to consent to the registration of a subsequent interest in land.
CoRD Evidence Type
There are three types of CoRD evidence that can apply to a CoRD Holder Consent:
- Duplicate Certificate of Title – used when the CoRD holder possesses a current edition of the CT.
- Named in CoRD Record – used when the CoRD holder has an electronic Certificate of Title (eCT) on the Register.
- Production Receipt – used when the CoRD holder has produced the CT to consent to an electronic dealing.
A CoRD holder is the party with CoRD. Evidence of their holding CoRD will be either:
- Paper: legitimate possession of the paper Certificate of Title, i.e. registered proprietor of unencumbered land or the first registered mortgagee.
- Electronic: CoRD record on the Register.
CoRD Holder Consent
An electronic document that is lodged via PEXA to provide consent to a transaction. This is the electronic equivalent of lodging the CT with the case or producing the CT.
It can be lodged with the electronic registry instruments to consent to the instruments in the case.
It can also be lodged as standalone to consent to a paper case.
Duplicate Certificate of Title
This is a national term referring to the paper CT. It is considered a ‘duplicate’ because the Register is the original.
Electronic Lodgment Network (ELN)
An online system for the preparation of electronic dealings and their lodgment in NSW LRS.
ELN Document ID
The unique number allocated to each document created in PEXA.
Electronic lodgment case
Registry instruments lodged electronically which form an electronic lodgment case.
Land Registry Document Identification
This is a national term referring to the dealing number allocated after lodgment.
This is a national term referring to the Folio of the Register.
Property Exchange Australia (PEXA)
This is the online system for lodging electronic registry instruments.
This is a national term referring to a dealing.
Refers to the lodging party.
A CoRD Holder Consent that is lodged to consent to the registration of a paper case e.g. lease, change of name, plan etc.
A subscriber is a person or business authorised to complete electronic conveyancing transactions using PEXA on behalf of a client eg solicitors and conveyancers, or on their own behalf, e.g. financial institutions and government agencies.
Third Party Consent
Where the consenting party is not involved in the transaction but is required to consent to the registration of an electronic case. The CT or CoRD record will be returned/retained by the consenting party.
This is the electronic equivalent of producing the CT.
Transacting Party Consent
Where the consenting party is involved in the transaction and in most cases is giving up CoRD, such as a discharging mortgagee.
This is the electronic equivalent of lodging the CT with the case.