Manage Nominated Purchasers

If your Victorian Conveyancing matter involves purchaser nominations, you can enter these details on the matter so triConvey can correctly automate forms and precedents, such as, Sale of Real Estate Nomination Form and Transfer of Land. 

Table of Contents

• Getting Started
• Essentials
• Types of Nomination Roles
• Edit Nomination Details
• Example

Getting Started

On a Victorian sale or purchase matter, Nomination Details is located under the Purchaser contact.

Essentials

Nomination Details are defaulted to Contract Purchaser so that if your matter does not involve any nomination, nothing needs to be done.

All Purchaser contacts must be entered in separate rows and only added once in order for Nomination Details to be entered correctly. To add Purchasers in separate rows:

1.  Right-click on the Purchaser and select Add Purchaser.

Types of Nomination Roles

Contract Purchaser - a person or entity named on the Contract.

Nominated Purchaser - a person or entity not named on the Contract but nominated as a Purchaser.

Co-Purchaser - a person or entity not named on the Contract but nominated as a Purchaser in addition to the Contract purchaser/s.

Removed Purchaser - original Contract purchaser who is removed or replaced via Nomination.

Edit Nomination Details

Once you've set up your Purchasers in separate rows, you can now edit their Nominations Details.

1.    Double click Nomination Details below the Purchaser name.

2.    Open the Nomination Role drop-down menu.

3.    Select the role you wish to apply.

Tip:  If you are trying to revert it back to Contract Purchaser, select the blank option.

4.    If the Purchaser is not listed on the Contract, tick the box Not a Contract Purchaser.

5.    Enter Nomination Date and percentage of Interest Acquired.

6.    Select OK.

Example

John Bee signed a Contract of Sale to purchase a property in Yarra Valley. On 21 June 2021 he nominated his wife, Pauline Bee to acquire 75% and his daughter, Samantha Bee to acquire 25%. The two nominated purchasers will replace him completely.

In triConvey, you must first enter the 3 contacts in separate rows. Then modify each Purchaser's nomination detail:

John Bee

• Nomination Role: Removed Purchaser (as he will no longer continue in the transfer)

Pauline Bee

• Nomination Role: Nominated Purchaser

• Not a Contract Purchaser: tick (as she was not listed on the Contract)

• Nomination Date: 21/06/2018

• Interest Acquired: 75
  
  

Samantha Bee

• Nomination Role: Nominated Purchaser
• Not a Contract Purchaser: tick
• Nomination Date: 21/06/2018
• Interest Acquired: 25

Doing this will allow forms such as Sale of Real Estate Nomination Form and Transfer of Land to be pre-filled correctly. Also allows the subject line on all letter correspondence to show correctly.