In an electronic conveyancing transaction using PEXA, when does the 'Financial Settlement' typically occur in relation to the 'Lodgement'?
Correct Answer
A) Financial settlement and lodgement happen at the same time
In PEXA electronic conveyancing, Financial Settlement and Lodgement occur simultaneously as part of an integrated digital process. This ensures that the transfer of funds and the registration of title documents happen at the same time, providing security and certainty for all parties.
Why This Is the Correct Answer
PEXA is built so that financial settlement and lodgement of the documents happen together in one settlement step. Neither party is left having paid without the documents being lodged, or the reverse. Registration of the lodged documents follows afterwards.
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