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 beginning | Topics | Assessment |
| Week 1- 7 February | Revision & negligence topic | |
| Week 2- 14 February | Development of multiple ownership: company share, stratum titles, strata & cluster titles | |
| Week 3- 21 February | Subdivision process | |
| Week 4- 28 February | Selling lots on a plan of subdivision | |
| Week 5- 7 March | Owners’ Corporation part 1 | |
| Week 6- 14 March | Owners’ Corporation part 2 | Mon 14 March Labour Day - no class LP2A |
| Week 7- 21 March | General and Special conditions | |
| Week 8- 28 March | Docklands Excursion for both day groups Monday 28 March | Reflections due (20 marks) |
| Week 9- 4 April | Investigation of title & exceptional parties to contracts | |
| Week 10-11 April | Stamp duties & Land Tax | Off the plan assignment due (40 marks) |
| Week 11- 26 April | Catch up class LP2A | No class LP2B |
| 21-27 April | mid 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 May | Sale 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 |
|
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 outcome | Reflections | Written assignment | Final 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