Handbook 1996 : Faculty of Law (Volume 3 page 221)
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Optional Law subject.
Prerequisite: Contracts; Property.
Contact: 2 hours per week
Timetable: First semester
Objectives:
Students will acquire an understanding of the law relating to the sale of land in Victoria and develop both the confidence and expertise to be able to handle a conveyancing transaction from initial instructions to settlement. In particular students will: understand how to read and investigate a Certificate of Title; understand the preliminary steps and formalities in the formation of a contract for the sale of land and an option to purchase land; understand each of the several steps of a conveyancing transaction; gain a detailed knowledge of the conditions in Table A in the seventh schedule to the Transfer of Land Act 1958 and in the third schedule to the Property Law Act 1958; and be able to draft Contracts of Sale, Sale Notes and their special conditions, Caveats, Withdrawal of Caveats and Transfers of Land.
Content:
Law relating to the sale in Victoria of land under the operation of the Transfer of Land Act 1958 and land under the general law: the contract of sale, including documents preliminary to the formal contract of sale, such as sale notes and options, and the impact of sections 126 and 127 of the Instruments Act 1958 on these documents. Legal rights and obligations arising from entering into a contract for the sale of land, the provisions implied by law into a contract of sale and an examination of the contractual conditions contained in the Seventh Schedule to the Transfer of Land Act 1958 and the 3rd Schedule to the Property Law Act 1958; the duty of the vendor to disclose defects in title and relating to the subject matter of the sale under the general law; Requisitions and objections to title and how they should be answered. Investigation of title by the purchaser, including searches and inquiries usually made and required by the Sale of Land Act 1962. The usual special conditions which parties incorporate into a contract of sale and their effect on the formation of the contract. Settlement. Subdivision of land and buildings including governmental control of subdivision and restrictions on the sale of land in subdividing in accordance with the Subdivision Act 1988.
Assessment:
Either Research Assignment - topics may be chosen by student and approved by lecturer 3,000 words (30 per cent) and Final Exam 2 hours (70 per cent); or Final Exam 3 hours (100 per cent).
Prescribed texts:
Law subject : Next:730-371 | Prev:730-340 | Search | Help
Handbook 1996 : Faculty of Law (Volume 3 page 221)
Status: Official 1996 Date created: Oct 9 1995 Last modified: Oct 9 1995 Authorised by: Academic Registrar Email enquiries: Course_Information@registrar.unimelb.edu.au
Maintained by: Faculty of Law.
Copyright © University of Melbourne 1995,1996.