Course Title: Finalise the conveyancing transaction

Part B: Course Detail

Teaching Period: Term1 2016

Course Code: BUSM7920C

Course Title: Finalise the conveyancing transaction

School: 650T Vocational Business Education

Campus: City Campus

Program: C5337 - Diploma of Conveyancing

Course Contact: Robert Sheen

Course Contact Phone: +61 3 9925 5759

Course Contact Email: robert.sheen@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Joanne Mackay

Email: joanne.mackay@rmit.edu.au

Nominal Hours: 30

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This unit describes the skills and knowledge required to complete conveyancing transactions and ensure all matters including arranging settlement, determining contingency strategies, completing transactions and implementing post-transaction procedures, as appropriate, are completed.

It applies to individuals who use specialised knowledge, systematic approaches and strong organisational skills to prepare and process transactions efficiently.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the relevant regulator for specific guidance on requirements.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBCNV505 Finalise the conveyancing transaction

Element:

1 Arrange the settlement

Performance Criteria:

1.1 Identify all parties to the transaction and take all relevant actions to ensure they are ready to complete the transaction
1.2 Fulfil transaction requirements accurately and completely including consideration of any relevant electronic requirements
1.3 Identify and collate information relevant to preparation of settlement statements and prepare and reconcile statements
1.4 Identify funds pertaining to the completion of the transaction and advise relevant parties
1.5 Receive funds required for the completion of the transaction within the required timeframe
1.6 Attend the settlement if required
1.7 Ensure documents are stamped correctly in accordance with legislative, regulatory and the practice’s requirements

Element:

2 Determine contingency strategies for settlements where contractual obligations remain unfulfilled

Performance Criteria:

2.1 Identify unfulfilled contractual obligations and assess possible contingencies
2.2 Identify a range of contingency strategies and options and evaluate and articulate these to the client
2.3 Determine appropriate strategies and options in consultation with client and in accordance with practice policy and procedures, and with legislative, regulatory and professional requirements

Element:

3 Complete transaction

Performance Criteria:

3.1 Confirm transaction arrangements with all relevant parties and ensure conditions for the finalisation of the transaction, including compliance with special conditions are met
3.2 Arrange and perform final searches and inspections where required
3.3 Examine transaction documents for accuracy and completion
3.4 Complete transaction with all relevant parties
3.5 Lodge stamped documents for registration

Element:

4 Implement post-transaction procedures, as appropriate

Performance Criteria:

4.1 Advise all relevant parties, including rating and other authorities of transaction completion
4.2 Make outstanding payments
4.3 Monitor and conclude outstanding matters promptly
4.4 Confirm registration change on title, if applicable
4.5 Return documents to client and third parties
4.6 Receive and disburse funds as authorised
4.7 Prepare and dispatch invoices to client and other parties
4.8 Update financial, business and client records
4.9 Close and archive file according to legislative, regulatory and practice requirements


Learning Outcomes



Details of Learning Activities

A range of learning activities are planned for this course including self-paced and collaborative classroom-based activities.

The self-paced activities will be delivered through various technology platforms and may include your contribution to wikis and discussion threads, reflective journals, quizzes and interactive sessions.

The collaborative classroom-based activities will include group discussions, group problem-solving activities and opportunities to practice your skills in a simulated/real workplace environment.

We expect you to participate and contribute in all scheduled learning activities.
 


Teaching Schedule

Induction Session

Prior to training commencement a program level induction session will be conducted that comprises the following:

  • Program overview and requirements
  • MyRMIT/Blackboard
  • Overview of assessment requirements
  • Pre-Training Review including:
    • Recognition of Prior Learning and Credit Transfers
    • Assessment of current skills and knowledge
  • Competency/Grading Criteria
  • Plagiarism
  • Appeals
  • Extensions
  • Feedback
  • Privacy
  • Submission requirements
  • Resubmission policy
  • Where to get support
  • Student responsibilities 

 The Teaching Schedule for this course is as follows. (Please note that this schedule is subject to change)

 

     Week Week CommencingTopics Topics           Assessment   
109/02/16


Paul Ryan (PR)

5.30 - 7.30 Weeks 1 - 12
===============

Introduction to Apply Principles of the Law of Torts
Course outline and discussion
Intro Trespass

Joanne MacKay (JM)
7.30 - 9.30 Weeks 1 - 6
==============

Introduction to Finalise Conveyancing Transactions and Negotiate to Achieve Goals and Manage Disputes

 
216/02/16Torts in relation to LandAdjustments practice 
323/02/16Trespass to the person & goodsAdjustments practice and in class assessment 1

Finalise Conveyancing/ Negotiate Disputes Assessment 1 in class
Adjustment 30 marks

401/03/16DefamationSettlement preparation - the basics 
508/03/16Duty of  care & Breach of a Duty of CareConveyancing Settlement Problems discussions -PR 
615/03/16CausationConveyancing Settlement Problems/resits adjustments Torts take home test due 30 marks
7a22/03/16Vicarious Liability & DefencesIn class settlement assessment-short answerFinalise conveyancing Negotiate Disputes Assessment 2 in class 30 marks
 24- 30/03/16 ***Mid-Semester Break*** (No scheduled classes)Easter Break 
7b31/03 & 1/04 Self directed learning 
804/04/16 DamagesIndustry Speaker -settlement problem 
911/04/16Torts assignment discussion

Commence BAFI5203C
Establish Manage and Administer and Trust Account Ms Linda Boyce (LB)

Practice exercises each week of Trust Accounting
1018/04/16Conveyancing Settlement Problems /revision- PRTrust Accounting 
1125/04/16Group in class problem solving – assess 3 PRTrust Accounting Finalise/negotiate disputes assessment. assessment 3 40 marks
1203/05/16Trust Accounting
NOTE: 5.30-9.30 (if needed
Trust Accounting
NOTE:5.30-9.30 (if needed)
 Torts Assignment due 70 marks
1310/05/16 Trust AccountingTrust Accounting 
1417/05/16 Trust Accounting - REVISIONTrust Accounting -REVISIION 
1524/05/16 In class assessment
Trust Account test
In class assessment
Trust Account test
 Major Trust Accounting test - 70 marks
1631/05/16 Resits and SC if eligibleResits and SC if eligible 

The nominal hours associated with this course are a guide only and represent the total teaching time and student effort required to successfully complete the course. This may include not only scheduled classes but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.


Learning Resources

Prescribed Texts


References

General Reference: Conveyancing Victoria 2015 Simon Libbis, previously purchased in 1st year. All other resources are available fee online through RMIT library, Black board, the HUB or myRMIT


Other Resources


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence
Evidence of the ability to:

  • arrange and attend or electronically attend settlement in accordance with all instructions and requirements including:
    • adjustments of relevant outgoings and other fees
    • confirmation of final payments
    • checking documents for accuracy
  • complete settlement transaction that meets:
    • agency or practice organisational policies and procedures
    • legislative requirements of settlement transactions
    • client requirements
  • monitor progress where actions are delayed, extended or rescheduled and determine contingency strategies for settlement where contractual obligations remain unfulfilled
  • implement post-transaction procedures as appropriate
  • communicate effectively with a range of personnel.

Knowledge Evidence
To complete the unit requirements safely and effectively, you must:

  • identify the roles of relevant parties in a settlement
  • describe file reconciliation procedures and other financial procedures relevant to settlement transactions
  • describe the key features of:
    • formal and informal industry codes of practice governing settlement procedures
    • legislation, regulations and common law relevant to settlement transactions
  • outline practice, policy and procedures in relation to transaction settlement and client management
  • explain monitoring procedures and possible solutions where actions are delayed, extended or rescheduled
  • identify and describe key regulations and procedures of relevant government agencies relating to settlement transactions.

Assessment Conditions
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the conveyancing field of work and include access to:

  • common office equipment, technology, software and consumables
  • suitable records showing the completion of a settlement transaction.            

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback
Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.
 


Assessment Tasks

This course is co-delivered and co-assessed with the following competencies:
GEDU6066C Negotiate to Achieve Goals and Manage Disputes
 

The assessments for this course have been designed to allow participants to apply their learning to particular simulated work scenarios and demonstrate their competence in a variety of ways.

 

TASK 1  - Assessment 1  - Adjustments(Due Date:  Week 3)   -  30 marks

Further details to be advised in class by your teacher

TASK 2  Assessment 2 - Settlement problems , the basics short answer test (Due Date: Week 7) - 30 marks

Further details to be advised in class by your teacher

TASK 3  Assessment 3 - In Class Group Problem Solving  - Take home Test (Due Date: Week 11) 40 marks

Further details to be advised in class by your teacher

You must satisfactorily complete all assessment tasks in order to achieve competency.

 

 

You must satisfactorily complete all assessment tasks in order to achieve competency.


Assessment Matrix

Other Information

Submission Requirements

You should:

• Ensure that you submit assessments on or before the due date.
• Always retain a copy of your assessment tasks (both hard copy and soft copy).
• Use a cover sheet that includes a declaration and statement of authorship when you submit work for assessment at RMIT University. You must complete, sign and submit a cover sheet with all work you submit for assessment, whether individual or group work. On the cover sheet you must declare that the work you are presenting for assessment is your own work. An assignment cover sheet for submission of each assessment task is available on Blackboard.
• Include a footer (appearing on each page of your assessment) with your name, student number, assessment title, course code, course title and page numbers. For example, Callie Harvey, 324567, Task 2, OHS2345C Ensure safe workplace, Page 1 of 10.


Late Submission Procedures

You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.

If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days. For more Information go to: http://www.rmit.edu.au/students/assessment/extension

The application form may be obtained from: http://mams.rmit.edu.au/seca86tti4g4z.pdf

Where an extension of greater than seven days is needed, you must apply for Special Consideration. Applications for Special Consideration must be submitted no later than two working days after the assessment task deadline or scheduled examination. For more Information go to: http://www.rmit.edu.au/browse;ID=g43abm17hc9w

The application form may be obtained from: http://mams.rmit.edu.au/8a5dgcaqvaes1.pdf


Resubmissions (VET Programs):

If your Course Assessment Task is assessed as not yet satisfactory, you will be allowed one resubmission opportunity only. Your teacher will provide feedback detailing what you need to do in order to satisfactorily complete that task, and will set a new deadline for the resubmission. The highest score you may receive if your resubmission is deemed satisfactory is 50% of the total marks allocated for that task.

If your task is still deemed to be not yet satisfactory then you must apply in writing to your Program Manager outlining the steps you will take to demonstrate competence in that course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as practical.


Adjustments to Assessment

In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which an adjustment to the assessment arrangements might be granted please access the following website: http://rmit.edu.au/browse;ID=7usdbki1fjf31


Marking Guide (Competency):

You must demonstrate through your performance in the Course Assessment Tasks that you have all the required skills and knowledge as specified in the unit of competency (course) you are studying,

Your submitted assessments are the evidence used to determine if you have met all critical aspects of the assessments, and if any critical aspects have not been met, then you cannot be deemed competent in this course.

On each assessment task you will receive feedback against the competency requirements for that task, and the outcome of the task will be recorded as either satisfactory (all requirements have been met) or not yet satisfactory (one or more requirements has not yet been met).

Only when all assessment tasks have been assessed as satisfactory will you be deemed competent in this course.


Marking Guide (Grading)

Only after achieving competency in this course will you receive a grade corresponding to your level of performance in the course. 

The reported Final Grade will be one of the following:

CHD Competent with High Distinction
CDI Competent with Distinction
CC Competent with Credit
CAG Competency Achieved – Graded
NYC Not Yet Competent
DNS Did Not Submit for assessment

Further details regarding the application of the grading criteria will be provided by your teacher.
 

Course Overview: Access Course Overview