Learn how reversing a settlement works in MRI Vault and when additional steps are required to ensure sale details are updated correctly on portals.

This article covers:

• About reversing a settlement
• Reverse a settlement
• Settlement reversal and portal updates

About reversing a settlement

Reversing a settlement unlocks sale details and returns the property to the awaiting settlement status. This does not publish the property on any portals.

Before you start, make sure you've completed all steps to change the property's status from Unconditional to Settled. This guarantees the property is properly settled before reversing its status.

Important

If there have been any trust transactions entered onto the current Trust Ledger, you will not be able to reverse the settlement.

• Ensure the Trust Ledger has a $0.00 balance
• Contact the Vault Financials support team so they can move the transactions back to the Settled ledger life, allowing you to reverse the settlement

Reverse a settlement

To reverse a settlement:

1. Navigate to the property card.
2. Click:

• More to review the Sales Details or,
• Reverse to revert the property to Unconditional status
  

Settlement reversal and portal updates

Update sale details after settlement

Users often request to hide or change the sale price after a property has already been settled. Once a property is settled in Vault, the sale information has already been sent to property portals, and reversing the settlement alone will not change that information.
To update how sale details appear on portals:

• The settlement must first be reversed
• The property must then be Converted Back to Listing status before being progressed through to Settled again with the correct selections

This ensures portals receive a new sold file.

Clearing portal errors

If you are reversing the settlement to fix portal errors:

1. Reverse the settlement
2. Then, take the record back to Listing Status by clicking Convert Back To Listing on the General tab

• Why this is necessary
  • Some portals (e.g., REA) only accept the first Unconditional file. Changes made after reverting to Unconditional may not display on REA
  • The Life ID remains the same, so you should not incur charges
  • Consider contacting REA Support for clarification
• Franchise offices
  • If your office is part of a franchise and the settlement occurred before the last EOM, contact your corporate team to ensure that franchise fees are applied only once.