Course Title: Take instructions in relation to a transaction

Part B: Course Detail

Teaching Period: Term1 2008

Course Code: LAW5138C

Course Title: Take instructions in relation to a transaction

School: 650T TAFE Business

Campus: City Campus

Program: C5180 - Diploma of Financial Services (Conveyancing)

Course Contact : Joanne Mackay

Course Contact Phone: +61 3 9925-5540

Course Contact Email:Joanne.Mackay@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Nominal Hours: 120

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 function associated with taking instructions from clients in regard to dealings with real or personal property.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSCONV501A Take instructions in relation to a transaction

Element:

Establish the client’s needs

Performance Criteria:

Consultation to assess and verify expectations
1.1. information gathered/ accuracy checked
1.2. courses of action determined
1.3. Client and practitioner responsibilities discussed and recorded:
1.4. This element consequently encompasses
 Introduction to property law and historical development
 Doctrine of tenure and estates
 Real and personal
 Fixtures and chattels
 The term conveyancing
 Fee simple and fee tail

Element:

Determine contingency strategies

Performance Criteria:

2.1. Identify and assess any conflict of interest
• Equitable interests
• Trusts
• co ownership

Element:

Determine terms of engagement

Performance Criteria:

3.1. Identification of parties properties and interests relevant to the transaction, including differences between common law and Torrens systems

3.2. documentation and titles
• chain of title
• certificate of title
• effect of registration
• establishing good title
• relevant legislative provisions in the Transfer of Land Act and Property Law Act

Element:

Identify any conflict of interest between conveyancer and client

Performance Criteria:

4.1 Compliance with legislation
4.2 authorities obtained
4.3 fees and disbursements

Element:

Identify parties, properties and other interests

Performance Criteria:

5.1. Assess and articulate contingency plans

5.2. Adopting strategies to deal with unpredicted legal issues. Examine:
• Adverse possession
• Leases and tenancies
• Mortgages
• Easements and covenants

Element:

Initiate the transaction

Performance Criteria:

6.1. Discuss procedures

6.2. Refer relevant third parties such as mortgagees

6.3 Analysis of property concepts before instructions confirmed and documented, and file opened


Learning Outcomes


On completion of the course students should be able to:

  •  recognise and analyse the principle concepts of property law and contract law as relevant underpinning knowledge in a conveyancing transaction.
  • Property law concepts include estates and interests, co ownership, fixtures and chattels, Transfer of Land Act, leases, mortgages, easements and covenants.
  • The law of contract examines all elements of the valid simple contract, misrepresentation and mistake, terms, capacity, discharge.


Details of Learning Activities

Students will study property law skills required to take instructions in relation to a transaction, and theory in class sessions and through prescribed exercises and assessment work. These concepts will also be explored through the investigation of appropriate real world and simulated environments.


Teaching Schedule

Easements and covenants Easements and covenants Easements and covenants

WEEK AND DATEWEEKLY SCHEDULEASSESSMENT
Week 1 – 13th Feb  Introduction to conveyancing program  
Week 2 – 20th Feb  Interests in land, fixtures and chattels  
Week 3 – 27th Feb  Fixtures and chattels  
Week 4 – 5th Mar  Co - ownership  
Week 5 – 12th Mar  Co-ownership, old law system  Case study test 20%
Week 6 – 19th Mar  Torrens system  
20th – 26th Mar  Mid Semester Break (Student Vacation) 
Week 7 – 2nd Apr  Torrens system  
Week 8 – 9th April  Adverse possession  
Week 9 - 16th AprilAdverse possession  Mid semester test 30%
Week 10 – 23rd April  Mortgages  

 Week 11 – 30th April

 Mortgages  
 Week 12 – 7th May  Leases and Tenancies  
 Week 13 – 14th May  Leases and Tenancies  
Week 14 – 21st May  Easements and covenants  
 Week 15 – 28th May  Easements and covenants  
 Week 16 - 4th June revision  
 Week 17 – 11th June  Final assessment  Open book test 40%
 Week 18 – 18th June review 


Learning Resources

Prescribed Texts

Property Law Learner’s Resource Australian Training Products TF/205/GEN/393/LP


References

Texts

Bird, R. Osborn’s Concise Law Dictionary

Bradbrook, MacCallum, Moore Australia Real Property Law Law Book Co.

Butt, P. Land Law Law Book Co.

Butterworths Australian Property Law Dictionary

Chambers An Introduction to Property Law in Australia, Law Book Co.

Dwyer & Tooher, Property and Conveyancing Law in Victoria Butterworths Statutes

Neave M.A, Rossiter C.J, Stone M.A. Sackville and Neave Property Law. Butterworths

Stein and Stone Torrens Title. Butterworths

Property Law Learner’s Resource, Australian Training Products

**Tooher, J and Dwyer, B Introduction to Property Law, Butterworths.

Dept of Sustainability and Environment The Land Registry Lodging Book: A guide to dealings at Land Victoria (3rd ed 2004)

Victorian Conveyancing Law and Practice CCH online through library

Whalan The Torrens System in Australia Law Book Co.

Wikrama, Voumard the Sale of Land LBC.

Legislation (all available online)

Conveyancers Act 2006

Limitation of Actions Act 1958

Property Law Act 1958

Residential Tenancies Act 1997

Retail Leases Act 2003

Transfer of Land Act 1958

Online Resources:

Australian Law Reports
Victorian Law Reports
on LexisNexis AU (http://www.lexisnexis.com/au/legal) Access via the RMIT library Search it page (http://www.rmit.edu.au/library/searchit). Also available on this library site is CCH Conveyancing reports

Austlii (http://www.austlii.edu.au)

Victorian Law Today (http://www.dms.dpc.vic.gov.au)


Other Resources


Overview of Assessment

Assessments may include: short in class exercises, class tests, question and answer activities, assignments and open book exams.
Students will be provided with formative feedback to establish their progress in the course and identify areas which need more work.


Assessment Tasks

Assessment will be by means of:

Case study test 20%
Mid semester test 30%
Final Test (2 hours – open book) 50%
100%

Class Activities. Students are expected to actively participate in class discussion with relevant questions and answers to tutorial and revision questions.

Case study test will be conducted under open book conditions. This means students can bring into the test in any written materials they wish. It will be for one hour in week 5. There will be multiple choice, true and false and short questions requiring answers not exceeding 10 lines. Maximum mark 20%. The case will be set in week 2.

Mid semester test will be held under open book conditions on the material covered in the first half of the semester to the end of the Torrens title topic

Final test: In week 17 under open book conditions covering the whole semester. You will be asked to give written advice on problems you are given. The maximum mark is 50% and the time allowed for the test 2 hours plus 5 minutes reading time.


Assessment Matrix

Learning Outcomes  Case study  test  final test
1. Establish the clients needs  X X X
2. Identify any conflict of interest  X X X
3. Identify parties, properties and other interests  X X X
4. Determine terms of engagement   X X
5. Determine contingency strategies    X
6. Initiate the transaction    X

Other Information

The teaching and assessment schedule is draft only at time of writing and subject to occasional variation

Course Overview: Access Course Overview