Subject Outline Spring 2010

75402 Property Transactions

Subject Outline

UTS: LawSpring 2010; cityCredit points: 6cp

Requisite(s) : (75412c Legal Skills AND (75420c Ethics and Professional Conduct OR 75415cProfessional Conduct 1) AND (132 Credit Value in spk(s): C04148 Master of Law and Legal PracticeOR 108 Credit Value in spk(s): C04236 Juris Doctor OR 156 Credit Value in spk(s): C10124Bachelor of Laws OR 156 Credit Value in spk(s): C10125 Bachelor of Business Bachelor of Laws OR156 Credit Value in spk(s): C10129 Bachelor of Laws Bachelor of Arts in International Studies OR156 Credit Value in spk(s): C10131 Bachelor of Medical Science Bachelor of Laws)) These requisites may not apply to students in certain courses. See access conditions.

Attendance: offered either on campus (lecture: 1hpw, workshop: 2hpw) or by distance requiring noon-campus attendance (lectures are taped for distance students)

Result type: Grade and marks

Subject coordinator

Jenny EggletonPosition : Clinical PractitionerRoom: CM05B.02.17Email: [email protected]: (02) 9514 3422Fax : (O2) 9514 3400

Teaching staff

Pam Favretto, Marieann Duncan, Peter Alexander, Andrew Selim, Des Finegan, AdrianScardilliPosition: Casual AcademicRoom: CM05B.2.18/ CM05B.2.19Email: [email protected], [email protected], [email protected], [email protected], [email protected],[email protected]: (02) 9514 3109Fax: (02) 9514 340

Subject description

The subject explores the legal practitioner's role in property transactions, including torrens title andstrata title conveyancing transactions, commercial and residential leases, mortgages, finance,powers of attorney and options. Students learn and practise tasks in preparation for professionalpractice as an entry-level lawyer including a practice file for a residential conveyance andpreparation of a commercial lease. Students develop their skills in applying their knowledge andunderstanding of the law in the context of property transactions. The subject encourages studentsto experience and reflect on some of the graduate attributes developed by the faculty.

06 Jul 2010 © University of Technology Sydney Page 1 of 11

http://handbook.uts.edu.au/subjects/75412.html



http://datasearch.uts.edu.au/evop/access/search.cfm?subjectcode=75402

mailto:[email protected]






Subject objectives

This subject will assist students to develop graduate attributes by pursuing the following learningobjectives. Students will undertake class activities to practise their development of these attributes,and will complete a range of assessment tasks designed to assess their attainment of the identifiedattributes.

To demonstrate the ability to apply an understanding of the law, its principles and proceduresin the context of property transactions in order to provide relevant advice to, and act for,clients at a level appropriate for an entry-level lawyer. (GA: 3, 5, 6)

1.

To demonstrate an understanding of conveyancing and real property law in a range of realproperty transactions. (GA: 3, 5, 6)

2.

To demonstrate an understanding of Government revenue implications, financing and securityissues in a range of real property transactions. (GA: 3, 5, 6)

3.

To apply legal accounting principles in conveyancing transactions. (GA: 5, 6) 4.To apply knowledge to analyse legal and non-legal issues arising in real property transactionsand to advise and explain options and solutions to clients. (GA: 3, 5, 6)

5.

To acquire an ability to draft legal documentation in accordance with client instructions. (GA:3, 5, 6)

6.

Contribution to course aims and graduate attributes

The UTS, Faculty of Law has identified a number of professional attributes that graduates from theFaculty will possess upon graduation.

INTELLECTUAL 1. Critical Thinking: An appropriate level of independent thinking, creativity and critical analysis.2. Analysis and Evaluation: An ability to strategically analyse issues of law, evaluate options andviewpoints to reach and implement decisions.3. Spoken and Written Communication: Advanced oral and written communication skills.4. Legal Research and Technological Literacy: Appropriate research techniques to acquire, distil andutilise legal information.

PROFESSIONAL 5. Disciplinary Knowledge: A coherent and extensive knowledge of substantive and procedural law.6. Lifelong Learning: A capacity to continually update the knowledge skills and awarenessappropriate to the practice of law.7. Ethics: A capacity to value and promote honesty, accountability and ethical standards.

PERSONAL8. Self and Cooperative Work Management: Self and priority management skills includingcooperative work.9. Cultural Awareness and a Global Outlook: An appreciation and valuing of cultural and intellectualdiversity and an ability to function in a global environment.10.Social Justice: An acknowledgement and acceptance of individual responsibilities and obligationsand of the assertion of the rights of the individual and the company.

The UTS Practical Legal Training Program is credited by the Legal Profession Admission Board(LPAB) of the Supreme Court of NSW. Property Transactions is one of the subjects in the PLTprogram and covers the required competency standards in the areas of Property Law Practice andTrust and Office Accounting (set out below).

LEGAL PROFESSION ADMISSION RULES 2005 - SCHEDULE 6 Practical Legal Training COMPETENCYSTANDARDS FOR ENTRY LEVEL LAWYERS – Extract

In the Property Law Practice area:

An entry-level lawyer should be able to convey, lease and mortgage real property. The lawyer


should also be able to provide general advice on standard matters arising under legislation relatingto land use in that State or Territory.

The lawyer has competently:

Transferring title: • identified the nature of the interest being dealt with properly, havingregard to the applicable title system.• prepared, commented on and advised on anappropriate contract of sale or other type of agreement and had it executed according to lawand good practice.• undertaken sufficient searches and inquiries to investigate title, anyissues about land use and responsibility for outgoings.• drafted an appropriate instrument oftransfer or conveyance and had it executed, and (if necessary) stamped and registered,according to law.• obtained or given any consents to, or notifications of, the transfer orconveyance according to law.

1.

Creating leases: • made and obtained all searches and consents required by law and goodpractice.• drafted, commented on and advised on a lease in a form allowed by law, reflectingthe agreement between lessor and lessee and protecting their respective interests.• arrangedfor the lease to be executed, and (if necessary) stamped and registered, according to law.

2.

Creating and releasing securities: • made and obtained all searches and consents required bylaw and good practice.• drafted, commented on and advised on an effective instrument tocreate or release the security, reflecting the agreement between the grantor and grantee andprotecting their respective interests.• arranged for the instrument to be executed, and (ifnecessary) stamped and registered, as required by law.

3.

Advising on land use: • identified any legislative scheme regulating the relevant use.• advisedthe client generally about processes to be followed to obtain permission for, or to object tothe use, as the case requires.

4.

Advising on revenue implications: • identified the revenue implications of any transaction andadvised the client accordingly.

5.

In the Trust and Office Accounting area:

An entry-level lawyer should have a sound general knowledge of the significance of, and theprinciples governing, trust and general accounting in legal practice, and sufficient knowledge, skillsand values to maintain trust and general account records according to law and good practice, to theextent usually permitted and expected of an employed solicitor.

The lawyer has competently:

Receiving money: • dealt with money received from or on behalf of a client, as required bylaw and good practice.• where the law and good practice requires money to be deposited in atrust account, controlled or general account, recorded the deposit as required by law and goodpractice.• issued any receipt required by law and good practice.

1.

Making outlays: • made any outlay from the correct account, according to law and goodpractice.• recorded the outlay as required by law and good practice.

2.

Rendering costs: • calculated the costs in accordance with law, good practice and anyagreement between the lawyer and client.• added to the bill all outlays made by the firm forwhich the client is responsible.• accounted to the client for any money received from theclient on account of costs and outlays, as required by law and good practice.• drafted the billand delivered it in accordance with law and good practice.

3.

Maintaining trust account: • maintained any trust account in accordance with specificstatutory requirements, including any requirements relating to common fund deposits andauditing.

4.

Teaching and learning strategies

Strategy 1 Lectures providing overall content coverageStrategy 2 Face to face or online workshops/discussionStrategy 3 Use of UTSOnline as part of flexible learning initiatives


Strategy 4 Practice file with specific deadlinesStrategy 5 Online QuizStrategy 6 Preparation of a commercial lease

Subject Delivery / Lecture Format / Tutorial Format and Expectation of StudentParticipationProperty Transactions is structured to be completed in one university semester. There are weeklymodules consisting of lectures, research by way of additional readings, practice file steps,workshops, seminar sessions and utilisation of UTSOnline. There will be an exam at the end of thesemester.

Delivery of the course is flexible in part. That is, students can set their own timetable as to whenthey wish to learn. For example lectures are delivered every Tuesday 5.30pm to 6.30pm in AutumnSemester and every Tuesday 2pm to 3pm in Spring semester commencing in week 1. Lecture slideswill be made available in Course Documents on UTS Online each week prior to the lecture. Noteswill also be posted in Course Documents on UTS Online. Off campus students are also welcome toattend the lectures.

Opportunities for contributions and questions have been set up in the Discussion Board forum inUTS Online. Students are welcome to participate on the Discussion Board on UTS Online. Facilitatorswill monitor the Discussion Board. We encourage students to answer each others queries and toadvise as to any helpful information students find which is not included in the Readings.

Completion of practice file steps allows students to learn at a time that suits them. However, certaindeadlines have to be imposed to ensure an effective learning strategy and progression through theother subjects comprising practical legal training. For example, there are specific dates by whichstudents must submit their practice files.

Students should note that a university semester is a short amount of time and work should not beallowed to accumulate. Good time management skills are essential for lawyers and students alike.We suggest students plan their timetable carefully in order to achieve the learning objectives in aclear and efficient manner. It is a good idea to set aside a regular time or times throughout theweek to devote to your studies.

The Week to Week Guide in Course Documents on UTS Online is divided into sections correspondingto the number of weeks it should take to complete the subject (not including the Faculty andVice-Chancellors non-teaching weeks, revision or exam weeks). Each section covers a main aspectof the subject. All sections are organised in the same order.

Readings and ResearchThe essential readings are all available online via the UTS Library as e-readings. The readings aredesigned to supplement formal lectures. The Subject Outline suggests when to undertake eachreading. Reading and understanding the lecture notes should take approximately one hour perweek. Students should also feel free to read outside of the recommended reading list. Reading andresearch should take approximately two hours per week, although some students may wish toallocate more time to research, depending on their level of knowledge.

ActivitiesThroughout the semester there are 11 seminar/workshops. They will take place for On Campusstudents on Mondays/Tuesdays, in your group rooms. Students studying Off Campus should setaside 2 hours per week to complete the activities. The workshops enable certain issues to bediscussed for the first time or in more detail than is possible in the lecture. Off campus studentsmay ask further questions on the discussion board.

Students should note that much of the practice of law is not written in books. Rather, it is learnedon the job. PLT focuses on these skills. You will be examined on these skills. Therefore, for OnCampus students, attendance at the activities is vital.

Content


Content

Introduction/Title Revisited 1.Vendor - Title and Interest 2.Purchaser - Title and Interest 3.Exchange and Post Exchange 4.Pre-settlement and Settlement 5.Commercial Leases - Part 1 6.Commercial Leases – Part 2 7.Mortgages 8.Strata Titles - Part 1 9.Strata Titles - Part 2 10.Residential Tenancies, Powers of Attorney and Options 11.Exam Briefing12.

Program

Week Dates Description

1 2 Aug Introduction/Title Revisited

Reading: See Week 1 of Week to Week Guide for online reading on Dept ofLands website.

Tutorial: Preliminary Seminar

2 9 Aug Vendor - Title and Interest

Reading: College of Law Practice Papers P201 "Sale of Residential Land",P201.10 to P201.120; - "Contract for Sale of Land", P203, Appendix 1.

Tutorial: Practice File Workshop 1

3 16 Aug Purchaser - Title and Interest

Reading: College of Law Practice Paper P202 "Purchase of Residential Land",P202.10 to P202.65


4 23 Aug Exchange and Post Exchange

Reading:College of Law Practice Paper P201 – "Sale of Residential Land", P201.160 toP201.245College of Law Practice Paper P202 – "Purchase of Residential Land", P202.65to P202.150


5 30 Aug Pre-settlement and Settlement

Reading:College of Law Practice Paper P202, "Purchase of Residential Land", 202.155 to202.260College of Law Practice Paper P201 – "Sale of Residential Land", P201.245 toP201.350



6 6 Sept Commercial Leases - Part 1

Reading: College of Law Practice Paper P204, "Commercial Leases"


7 13 Sept Commercial Leases – Part 2

Reading: College of Law Practice Paper P204, "Commercial Leases"


8 20 Sept Faculty non-teaching week

- 27 Sept VC's week

9 4 Oct Mortgages

Reading: College of Law Practice Paper P205 "Acting in Mortgage Transactions"

Tutorial: Public Holiday – no tutorials on Monday or Tuesday

10 11 Oct Strata Titles - Part 1

Reading: College of Law Practice Paper P207 "Strata Title Conveyancing",Paras P207.10-207.75

Tutorial: Commercial Lease Workshop

11 18 Oct Strata Titles - Part 2

Reading: College of Law Practice Paper P207 "Strata Title Conveyancing",Paras P207.80, P207.190-P207.420

Tutorial: Problem Solving

12 25 Oct Residential Tenancies, Powers of Attorney and Options

Reading: College of Law Practice Paper P209 "Powers of Attorney"

NSW Office of Fair Trading - The Renting Guide


13 1 Nov Exam Briefing

No prescribed reading


Additional information

Students must read this Subject Outline in conjunction with the Week to Week Guide in CourseDocuments on UTSOnline, the Subject Information Booklet and Announcements made on UTSOnline.

Assessment

General assessment criteria for this subject In each assessment task we will be looking for evidence


that you: 1. have understood the subject content and can apply it appropriately to the assessmenttask at hand; 2. can identify ways of using this learning to enhance the quality of your ownworkplace or professional context; 3. have used relevant wider reading to enhance and comment onthe issues under consideration; 4. have addressed each assessment task succinctly, clearly and withrelevance and insight. All assignments must be lodged with a PLT cover sheet.(May be downloadedfrom Course Documents on UTSOnline.)

Assessment item 1: Practice File

Objective(s): Objective: 1, 2, 3, 4, 5, 6Graduate Attribute: 3, 5, 6

Weighting: 35%

Due: On Campus students: on or before 6.00pm on Monday, Week 7 (if you settleon that day) or Tuesday, Week 7 (if you settle on that day) in the AssignmentBox, Law Reception, Level 3, Building 5B

Off Campus students: If the file is posted to UTS, the envelope must be datestamped on or before Tuesday, Week 7. If the file is placed in the AssignmentBox, it must be handed in on or before 6.00pm on Tuesday, Week 7.

Task: Students will be required to conduct a practice file in a conveyancingtransaction.

Furtherinformation:

NB: DEADLINES FOR PRACTICE FILE (Tuesday in each of the Weeksreferred to, except for students who have a Monday seminar, in whichcase Monday in each week):Exchange of contract – Week 4Hand in Transfer (On campus students only) - Week 5 Settlement – Week 7Hand in Practice File – Week 7

You will take the role of a newly admitted lawyer under the supervision of asenior partner (played by a member of the teaching staff). Each week, betweenweeks 2 and 7, students will be required to complete certain steps towards thecompletion of the practice file.

The file must be an individual piece of work, not a group effort.

The facts for this practice file and most supporting materials are in the PracticeFile Materials in Course Documents on UTSOnline (you will also be directed tosource certain materials online). The steps are listed in each week's activities inthe Week to Week Guide in Course Documents.

Please check that your file contains all relevant material. No submission of partsof the file (e.g. missing steps) can be accepted after the file is submitted.

There are DEADLINES throughout the matter. Adhering to the deadlines will betaken into account when your practice file is assessed.

For On Campus students: the completed file must be handed in on or before6.00pm on Monday 13 September, 2010 (if you settle on that day) or Tuesday 14 September, 2010 (if you settle on that day) in the AssignmentBox, Law Reception, Level 3, Building 5B. Five (5) per cent of marks for theassessment task will be deducted per day for assessment taskssubmitted after the due date.

For Off Campus students: If the file is posted to UTS, the envelope must bedate stamped on or before Tuesday 14 September, 2010. If the file is placed


in the Assignment Box, it must be handed in no later than 6.00pm on Tuesday, 14 September, 2010. Five (5) per cent of marks for theassessment task will be deducted per day for assessment taskssubmitted after the due date.

The address to post the file to is:University of Technology, Sydney, Faculty of Law, PO Box 123 BROADWAY NSW2007 Attention: Jenny Eggleton

Each step number in the practice file must be indicated by the words,'Step #', at the top right hand corner of the relevant step page.

Note: Failure to indicate the steps properly will result in the practicefile being returned to you for appropriate marking of steps and you willincur a one mark penalty per day until your file is resubmitted.

Assessment will be based on the general assessment criteria referred to abovefor this subject. There are several potential areas for assessment in the practicefile. They are:

Advice on contract 1.

Negotiating amendments to the contract including special conditions 2.

Exchange of Contracts 3.

Analysing results of post exchange enquiries 4.

Pre-settlement letter including Settlement Sheet 5.

Settlement 6.

Final letter to client 7.

General correspondence 8.

General file noting 9.

Legal Accounting, including Costs Disclosure, Ledgers, Bill of Costs andTrust Statement

10.

File Management, presentation and ethical issues, including adhering toDeadlines.

11.

Students will be assessed on selected areas. The selected areas will bedisclosed when the files are handed back to students after assessment. The filerequires you to draft and send correspondence to your client or the vendor'ssolicitors (both played by the teaching staff). In reality, all yourcorrespondence is kept on file as copies of sent correspondence.

KEEP A COPY OF THE FILE IN CASE THE ORIGINAL IS LOST.

Assessment item 2: Participation in Problem Solving

Objective(s): Objective: 1, 2, 5 Graduate Attribute: 3, 5, 6

Weighting: 5%

Due: Weeks 11, 12 & 13

Task: Participation in problem solving (in class for On Campus students; on UTSOnlinefor Off Campus students)

Further


Furtherinformation:

In weeks 11, 12 and 13, students will participate in problem solving. A problemraising general conveyancing issues, which you might encounter in practice, willbe posted on UTSOnline prior to each of weeks 11, 12 and 13. New facts and anew problem will be posted each week.

On Campus students will research the issues during the seminar of eachrelevant week in small groups. After identifying and researching the relevantissues, each group will discuss their analysis and solutions in a class discussion.The clinical practitioner will allocate a mark up to 5% at the end of week 13 foreach student.

Off Campus students will research the relevant issues during each of theweeks following the posting of the problem on UTSOnline. After identifying andresearching the relevant issues, each student is required to post on UTSOnline,in the allocated Discussion Forum, a contribution to the analysis and solutionsof the problem. The posting need not be more than 100 words per week. Youmay choose to focus on one issue or develop one point. This posting maydevelop an idea from a previous posting of a student and may includecomments about a previous posting. (Comments must not be personallycritical.) Weekly contributions will be taken into account when the mark isallocated. No posting will be considered after 6pm on each Sunday of weeks 11,12 and 13 relating to that week’s problem. The subject co-ordinator will allocatea mark up to 5% at the end of week 13 for each student.

Marks for all students will be allocated for:

Participation

Identifying relevant issues

Analysing and applying relevant law

Developing ideas and solutions

Assessment item 3: Quiz

Objective(s): Objective: 1, 2, 3Graduate Attribute: 5, 6

Weighting: 10%

Due: Midnight on Tuesday, Week 14

Task: All students will complete a Quiz, which will comprise 10 multiple choicequestions selected from the following topics: Commercial Leases, Mortgages,Strata Titles, Residential Tenancies, Powers of Attorney and Options. The Quizis not set to a time limit. The Quiz will be set up on UTSOnline in Assignmentsin Week 10. The Quiz is to be completed online.

Furtherinformation:

Students will be given one opportunity to do the Quiz. Do not open the Quizuntil you are ready to complete it. If you open the Quiz and do not answerevery question you will be locked out of the Quiz.

Assessment item 4: Commercial Lease

Objective(s): Objective:1, 2, 5, 6Graduate Attribute: 3, 5, 6


Weighting: 0%

Due: On Campus students: on or before 6.00pm on Tuesday, Week 11 in theAssignment Box, Law Reception, Level 3, Building 5B.

Off Campus students: If the lease is posted to UTS, the envelope must bedate stamped on or before Tuesday, Week 11. If the lease is placed in theAssignment Box, it must be handed in on or before 6.00pm on Tuesday, Week11.

The address to post the lease to is:University of Technology, Sydney, Faculty of Law, PO Box 123 BROADWAYNSW 2007 Attention: Jenny Eggleton

Task: Satisfactorily complete a commercial lease as directed in the CommercialLease Workshop in the Week to Week Guide in Course Documents onUTSOnline.

Furtherinformation:

To be eligible to sit the Examination in this subject, students musthave submitted a satisfactorily completed commercial lease asdirected in the Commercial Lease Workshop. Details of this workshopare in the Week to Week Guide in Course Documents in UTSOnline.

Assessment item 5: Final Examination

Objective(s): Objective: 1, 2, 3, 5, 6Graduate Attribute: 3, 5, 6

Weighting: 50%

Due: Formal Exam Period

Task: This will be an open book examination held during the examination period andwill be two hours duration. The examination will deal with all the materialdealt with during the semester including readings, lectures, seminars,activities and the practice file.

Supplementary assessments

In the event that a student fails to obtain a pass grade in this subject, having completed allassessment tasks, a supplementary examination will be offered where the student has achieved amark between 45% and 50%. A student will be awarded a 50 - Pass if they successfully completethe supplementary examination.

Prize offered

An annual awards ceremony is held at the Faculty of Law each year in recognition of theachievements of our students. You can check to see if a prize is awarded for this subject by visitingthe online Handbook at www.law.uts.edu.au/students/prizes/prizes.html.

Required texts

Legislation referred to in Lectures 1.


College of Law Practice Papers as directed in this Subject Outline 2.Websites and other material as directed.3.

Recommended texts

Blair, P, Ticehurst, F and Nettle, K Looseleaf, Baalman and Wells’ Land Titles Office PracticeNSW’, LawBook Company Butt, P Land Law, 6th ed. Thomson Reuters, 2010 Lang, Andrew Looseleaf, New South WalesConveyancing Law and Practice, CCH Australia Lang, Andrew Looseleaf, Lang’s Commercial Leasing in Australia, CCH Australia Gray J, Edgeworth B, Foster N, Grattan S, Property Law in New South Wales, 2nd ed,LexisNexis Tooher, J and Dwyer, B Introduction to Property Law, 5th ed. 2008 LexisNexisButterworths Young, PW, Cahill, A and Newton, G Conveyancing and Real Property Legislation New SouthWales 2009 edition

Other resources

1. Other materials and information can be found on The Law Society website

2. External Links on UTSOnline for this subject.

Disclaimer

This subject outline must be read in conjunction with the UTS: Law Subject Information Bookletwhich contains important information for all Law subjects. Students must regularly check UTS Onlinefor any changes to the following course material and for announcements throughout the session.
