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Question:

Instructions:

You must answer three question from the four question given. All questions are of equal value . 

Question 1 is  compulsory - you must answer this question 

Answers must be presented in essay format with proper referencing. Cases and legislation must be cited and quotes from other sources referenced. For items from the course materials it is sufficient to cite the original document. A 
bibliography is not required.

Answers should by typed on single sided A4 paper using Times New Roman or Arial, size 12 font and double spaced using standard margins.

Each answer should be not less than 500 words and no more than 750 words

Clearly number each page of your answers and show the number of the question and if the question has several parts number each part you are answering.

Questions

1. You are a licensed conveyancer acting in the sale of a residential property for a client, Mr. Pickie. Mr. Pickie is angry at the cost of disbursements associated with preparation of the contract for sale. He insists that at least you could use the s149 Certificate that he obtained when purchasing the property three years ago. His is also not happy with all the questions you have been asking in relation to any possible adverse affectations on the property.

In keeping with your commitment to provide the best possible service to your clients, you decide to provide Mr. Pickie with written advice in simple language (supported by reference to statutory authority) about the following:

a)  Why he must prepare a contract before the property goes on the market;

b)  What is meant by his duty of disclosure and why it must be complied with;

c)  Why you must ascertain whether the property has any adverse affectations;

d)  Why it is unwise to rely upon a three-year-old s149 certificate. 

 

2. You are a licensed conveyancer and are acting on both the sale and purchase of property in Armidale for a client and you are holding signed counterparts for both the sale and the purchase. The purchaser sends you their signed counterpart contract with a covering note stating ‘Enclosed is our clients signed counterpart contract. Please forward your clients signed counterpart in order to effect exchange’. You forward your clients signed counterpart by return mail.   That afternoon, the solicitor acting for the vendor of your client’s proposed new house telephones your office and tells you that the vendor has had a better offer and that unless you exchange contracts immediately the vendor will sell elsewhere. You agree to a telephonic exchange of contracts and make a file note of the conversation. It later turns out that a special condition relating to damages payable for late completion has been left out of the copy of the contract now held by the vendor. 

Discuss the likely outcome of the following events:

i) The vendor is now regretting his loss of the higher offer and is

maintaining that he is not bound by the purported exchange.

ii) The purchaser’s solicitor has written advising you that the purchaser does not now wish to proceed with the sale.

 

3. Trev is the registered proprietor of a parcel of Real Property Act land. He enters into a written contract to sell the property to Penny for $200,000. Penny pays 10% deposit on exchange of contracts; settlement is set to take place in 6 months time. Because of the length of time before settlement Penny’s licensed conveyancer requests a signed transfer, wishing to avoid additional cost in the matter does not lodge a caveat in respect of Penny’s interest.

Trev then receives an offer of $250,000 for the property from Sue. Trev accepts this offer and enters into a written contract with Sue who also pays a 10% deposit. Sue knows that the property has been on the market for some time and has been told by the neighbours that they thought it was “under contract” but makes no further enquires. The sale to Sue is completed first with Trev handing over on settlement the Certificate of Title and a signed transfer in exchange for the balance of purchase price. Before Sue can register her transfer, Penny discovers what has happened and lodges a caveat in respect of her contractual rights.

Explain who is entitled to the property. Discuss the issues and legal principles involved in reaching your conclusion.

 

4. Elton was a flamboyant entertainer whose will left all of his real and personal property to his much younger partner Davith. Elton suspected that Davith had been unfaithful to him for their entire relationship so he decided to dispose of some assets whilst still leaving Davith comfortable. Elton wrote a cheque for a sizeable donation to the Foundation for Fallen Entertainers and gave his Rolls Royce to his personal trainer. Elton also decided to make a gift of his mansion to Simone, his faithful costume-maker. Elton executed a Transfer, transferring the mansion to Simone. The transfer was duly signed and attested, and Elton handed it to Simone along with the Certificate of Title to the mansion. The next day, Elton found that Davith had not been unfaithful, and now wants Davith to get the mansion.

Explain, using authority, whether Elton can leave the mansion to Davith.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). Law. Retrieved from https://myassignmenthelp.com/free-samples/m100-law/residential-property.html.

My Assignment Help (2020) Law [Online]. Available from: https://myassignmenthelp.com/free-samples/m100-law/residential-property.html
[Accessed 28 July 2021].

My Assignment Help. 'Law' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/m100-law/residential-property.html> accessed 28 July 2021.

My Assignment Help. Law [Internet]. My Assignment Help. 2020 [cited 28 July 2021]. Available from: https://myassignmenthelp.com/free-samples/m100-law/residential-property.html.


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