Course Title: Land Contracts

Part B: Course Detail

Teaching Period: Term1 2011

Course Code: MKTG5151

Course Title: Land Contracts

School: 650T TAFE Business

Campus: City Campus

Program: C6070 - Advanced Diploma of Business (Legal Practice)

Course Contact : Paul Ryan

Course Contact Phone: +61 3 9925 5466

Course Contact Email:paul.ryan@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Joanne Mackay 108:13:26

Tel 9925 5540

joanne.mackay@rmit.edu.au

Nominal Hours: 51

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

LAW5040 Legal Process [VBM898]
LAW5042 Property Law [VBM896]
MKTG5150 The Conveyancing Process [VBM900]

Course Description

This module covers duties of care owed by the conveyancer, appropriate contracts for the sale of different land interests, investigating the vendor’s title, Land Registry Office, State Revenue Office and council procedures, dealing with specific parties to contracts for the sale of land, subdivisions and body corporate problems and sale of small businesses.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

VBM903 Land Contracts


Learning Outcomes


1. Analyse the duties of a conveyancer and real estate agent under the law of contract and the law of tort.
2. Identify and assess the various types of property subdivision and determine the typical clauses incorporated in certain contracts of the sale of land.
3. Distinguish between General Law and Torrens titles and the conveyancing procedures that are common to both systems. Analyse the procedure to be adopted in the investigation of the title held by the vendor in the sale of land.
4. Analyse government office procedures relevant to the conveyancing process.
5. Analyse and assess special actions to be taken when a party to a contract is other than the registered owner. Distinguish between the powers, obligations and responsibilities of the different parties to the contract.
6. Analyse and assess conveyancing procedures and identify the terms relevant to a sale and purchase of a small business, and specify the special duties imposed on a conveyancer in this area.


Details of Learning Activities

Students will study Land Contracts skills 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

 Weekly Schedule 
Week beginningTopicsAssessment
 Week 1- 7 FebruaryRevision & negligence topic 
Week 2- 14 FebruaryDevelopment of multiple ownership: company share, stratum titles, strata & cluster titles 
Week 3- 21 FebruarySubdivision process 
Week 4- 28 FebruarySelling lots on a plan of subdivision 
Week 5- 7 MarchOwners’ Corporation part 1  
Week 6- 14 MarchOwners’ Corporation part 2 Mon 14 March Labour Day - no class LP2A
Week 7- 21 MarchGeneral and Special conditions 
Week 8- 28 MarchDocklands Excursion for both day groups Monday 28 March Reflections due (20 marks)
Week 9- 4 AprilInvestigation of title & exceptional parties to contracts  
Week 10-11 AprilStamp duties & Land Tax Off the plan assignment due (40 marks)
Week 11- 26 AprilCatch up class LP2A No class LP2B
21-27 Aprilmid semester break easter vacation & ANZAC Day holiday
Week 12- 2 May Conveyancing & GST  
Week 13- 9 May Sale of Business part 1 
Week 14- 16 MaySale of Business part 2 & Revision 
Week 15- 23 May Final test - 2 hours  - open book Final test open book (40 marks)
Week 16- 30 May  
Week 17- 6 June  Mon 6 June Queens Birthday holiday
   


Learning Resources

Prescribed Texts

There is no prescribed text, but there are detailed class notes on my RMIT studies (aka blackboard)


References

Voumard _ The Sale of Land LawBook Co. 5th edition by Wikrama

CCH – Victorian Conveyancing Law and Practice – online In RMIT Business Library

Simon Libbis_ Subdivisions with the Lot – Law Crest (loose leaf) on reserve in library

Land Titles Office _ The Lodging Book – version 4.1 on Land Victoria online site The ABC of Victorian Bodies Corporate - Rebecca Leshinsky - Law Crest

Libbis + Murphy _ ConveyanceWorks_ Law Crest


Other Resources

Acts and subordinate legislation (Victoria & Commonwealth)

Duties Act 2000

Estate Agents Act 1980

Property Law Act 1958

Sale of Land Act 1962

Subdivision Act 1988

Owners’ Corporation Act, 2006

Owners’ Corporation Regulations 2007

Subdivision (Body Corporate) Regulations 2001

Subdivision (Procedures) Regulations 2000



Overview of Assessment

Assessment will consist of written tests, in class exercises and an assignment.


Assessment Tasks

Assessment that learning outcomes have been achieved will be by:

1. Reflections  (week 8)                                    20 marks
2. Assignment  (week 10 )                               40 marks
3. Final test (open book – week 15 )              40 marks

Assessment 1 - Reflections : In most classes during the first 7 weeks students will be asked to write approximately 10 lines to reflect on issues raised in  class.  One reflection  will relate to the new Owners Corporation Regulations which came into effect on 1 January, 2007 and it will be worth 10 marks of the 20 marks for  the reflections.

Assessment 2 is a very difficult written assignment where you prepare a detailed letter of advice relating to an off-the–plan purchase. It is due in week 10 & worth 40 marks.

Assessment 4 is the final open book test worth 40 marks scheduled for week 15.

To pass this course students must satisfactorily complete all assessment and have a total mark of not less than 50%.


Assessment Matrix

Learning outcomeReflectionsWritten assignmentFinal test
Analyse the duties of a conveyancer and real estate agent under the law of contract and the law of torts. X X 
Identify and assess the various types of property subdivision and determine the typical clauses incorporated in certain contracts of the sale of land. X X 
Distinguish between General Law and Torrens titles and the conveyancing procedures that are common to both systems. Analyse the procedure to be adopted in the investigation of the title held by the vendor in the sale of land.X   X
Analyse government office procedures relevant to the conveyancing process. X X X
Analyse and assess special actions to be taken when a party to a contract is other than the registered owner. Distinguish between the powers, obligations and responsibilities of the different parties to the contract. X X X
Analyse and assess conveyancing procedures and identify the terms relevant to a sale and purchase of a small business, and specify the special duties imposed on a conveyancer in this area. X  X

Other Information

This is a difficult couse which follows on from Conveyancing Process and Law of Contract.  It is imporant in legal practice.  We will endeavour to make it interesting.  However, aspects are boring, but I can assure no more boring than preparing this Part B Statement.

The complete syllabus for Land Contracts is on the course site on this RMIT learning hub at http://www.rmit.edu.au/learninghub . Please refer to it for details of the learning outcomes and assessment criteria.

Course Overview: Access Course Overview