06 June 2011 - Simplifying Secured Party Group Management on the PPSR (via PPSRcheX blog)

Secured Party Groups (SPGs) are the PPSR's way of handling collections of Secured Parties (SPs), which are system records pertaining to financiers.

SPGs can have one or more SPs. Each SPG essentially contains unique SP records, although SPs representing the same financier can be held within multiple SPGs. Secured Party Groups and Secured Parties are not attached to Accounts on the register, but SPGs can be managed by having access to the SPG number and corresponding security token issued by the PPSR. This means that whilst an SPG may "belong" to a financier, it can be managed, and registrations can be made by anyone with access to the necessary details.

In analysing our customers' business processes, it has become apparent that the management of SPGs (and therefore of corresponding registrations) will become complex in scenarios where either the financier has many SPGs, or where the financier chooses to outsource the administration of these activities to a third party (ie: Mortgage Processor or Legal Firm etc). Additionally, since registrations are linked to SPGs, ongoing management of those registrations (monitoring expiry, making transfers and discharges) is closely related to the issues surrounding access to SPGs.

To assist in understanding the area of SPG management, we have identified a number of scenarios that need to be properly managed which would seem to be more difficult if using the PPSR directly. There are many advantages of using a professional information provider such as GlobalX, who has a wide cross-section of customers to work with, and who can enable access to additional data sources and online tools to assist in simplifying setup and ongoing management.

We will be releasing our full paper on Secured Party Group Management within the next week. If you would like a copy of the paper or more information in the meantime, please contact us on support@ppsrchex.com.au or call 1300 362 585.

30 May 2011 - How the new QLD pool safety legislation impacts pool owners (via AdvantX)

Ensure your conveyancing is compliant and prevent a sale falling through at the last minute, by ensuring your seller and buyer have access to pool fencing reports.

Everyone in Queensland who owns a pool or manages a "shared pool" (for example, a pool in an apartment complex managed by a Building Manager or Body Corporate), will be affected by the introduction of the new Queensland pool safety legislation designed to make all pool fences compliant and safe.

If the pool is compliant, a Certificate of Compliance will be issued, and the pool will be registered at no additional cost on the government website. If, however, the pool is non-compliant you will be issued with a notice of non-compliance along with details of what needs fixing to become compliant. As the re-inspection needs to be re-booked within 90 days of the date of the first inspection, we will forward a reminder 60 days from the date of that initial inspection.

AdvantX users can now order Pool Fence Inspections and Pool Safety Certificates online. Join AdvantX, and access our full range of online search services for the conveyancing community.

23 May 2011 - Enhancements made to Land Value searches (via LegalinX)

Need detailed information about Land Value?

The NSW Strata Unit and Strata Scheme Land Value searches within LegalinX have been enhanced and now include: Strata Unit - unit entitlement, total entitlement, Strata scheme land value and Strata unit land value. Strata Scheme - total entitlement and the strata scheme land value.