75402 Property Transactions

Subject Outline
UTS: Law Spring 2010; city Credit points: 6cp Requisite(s) : (75412c Legal Skills AND (75420c Ethics and Professional Conduct OR 75415c Professional Conduct 1) AND (132 Credit Value in spk(s): C04148 Master of Law and Legal Practice OR 108 Credit Value in spk(s): C04236 Juris Doctor OR 156 Credit Value in spk(s): C10124 Bachelor of Laws OR 156 Credit Value in spk(s): C10125 Bachelor of Business Bachelor of Laws OR 156 Credit Value in spk(s): C10129 Bachelor of Laws Bachelor of Arts in International Studies OR 156 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 no on-campus attendance (lectures are taped for distance students) Result type: Grade and marks

Subject coordinator
Jenny Eggleton Position : Clinical Practitioner Room: CM05B.02.17 Email: Jenny.Eggleton@uts.edu.au Phone: (02) 9514 3422 Fax : (O2) 9514 3400

Teaching staff
Pam Favretto, Marieann Duncan, Peter Alexander, Andrew Selim, Des Finegan, Adrian Scardilli Position: Casual Academic Room: CM05B.2.18/ CM05B.2.19 Email: Pamela.Favretto@uts.edu.au, Marieann.Duncan@uts.edu.au, Peter.Alexander@uts.edu.au, Andrew.Selim@uts.edu.au, Desmond.Finegan@uts.edu.au,Adrian.Scardilli@uts.edu.au Phone: (02) 9514 3109 Fax: (02) 9514 340

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

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Subject objectives
This subject will assist students to develop graduate attributes by pursuing the following learning objectives. 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 identified attributes. 1. To demonstrate the ability to apply an understanding of the law, its principles and procedures in 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) 2. To demonstrate an understanding of conveyancing and real property law in a range of real property transactions. (GA: 3, 5, 6) 3. To demonstrate an understanding of Government revenue implications, financing and security issues in a range of real property transactions. (GA: 3, 5, 6) 4. To apply legal accounting principles in conveyancing transactions. (GA: 5, 6) 5. To apply knowledge to analyse legal and non-legal issues arising in real property transactions and to advise and explain options and solutions to clients. (GA: 3, 5, 6) 6. To acquire an ability to draft legal documentation in accordance with client instructions. (GA: 3, 5, 6)

Contribution to course aims and graduate attributes

The UTS, Faculty of Law has identified a number of professional attributes that graduates from the Faculty 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 and viewpoints 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 and utilise 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 awareness appropriate to the practice of law. 7. Ethics: A capacity to value and promote honesty, accountability and ethical standards. PERSONAL 8. Self and Cooperative Work Management: Self and priority management skills including cooperative work. 9. Cultural Awareness and a Global Outlook: An appreciation and valuing of cultural and intellectual diversity and an ability to function in a global environment. 10.Social Justice: An acknowledgement and acceptance of individual responsibilities and obligations and 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 PLT program and covers the required competency standards in the areas of Property Law Practice and Trust and Office Accounting (set out below). LEGAL PROFESSION ADMISSION RULES 2005 - SCHEDULE 6 Practical Legal Training COMPETENCY STANDARDS 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
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should also be able to provide general advice on standard matters arising under legislation relating to land use in that State or Territory. The lawyer has competently: 1. Transferring title: identified the nature of the interest being dealt with properly, having regard to the applicable title system. prepared, commented on and advised on an appropriate contract of sale or other type of agreement and had it executed according to law and good practice. undertaken sufficient searches and inquiries to investigate title, any issues about land use and responsibility for outgoings. drafted an appropriate instrument of transfer 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 or conveyance according to law. 2. Creating leases: made and obtained all searches and consents required by law and good practice. drafted, commented on and advised on a lease in a form allowed by law, reflecting the agreement between lessor and lessee and protecting their respective interests. arranged for the lease to be executed, and (if necessary) stamped and registered, according to law. 3. Creating and releasing securities: made and obtained all searches and consents required by law and good practice. drafted, commented on and advised on an effective instrument to create or release the security, reflecting the agreement between the grantor and grantee and protecting their respective interests. arranged for the instrument to be executed, and (if necessary) stamped and registered, as required by law. 4. Advising on land use: identified any legislative scheme regulating the relevant use. advised the client generally about processes to be followed to obtain permission for, or to object to the use, as the case requires. 5. Advising on revenue implications: identified the revenue implications of any transaction and advised the client accordingly. In the Trust and Office Accounting area: An entry-level lawyer should have a sound general knowledge of the significance of, and the principles governing, trust and general accounting in legal practice, and sufficient knowledge, skills and values to maintain trust and general account records according to law and good practice, to the extent usually permitted and expected of an employed solicitor. The lawyer has competently: 1. Receiving money: dealt with money received from or on behalf of a client, as required by law and good practice. where the law and good practice requires money to be deposited in a trust account, controlled or general account, recorded the deposit as required by law and good practice. issued any receipt required by law and good practice. 2. Making outlays: made any outlay from the correct account, according to law and good practice. recorded the outlay as required by law and good practice. 3. Rendering costs: calculated the costs in accordance with law, good practice and any agreement between the lawyer and client. added to the bill all outlays made by the firm for which the client is responsible. accounted to the client for any money received from the client on account of costs and outlays, as required by law and good practice. drafted the bill and delivered it in accordance with law and good practice. 4. Maintaining trust account: maintained any trust account in accordance with specific statutory requirements, including any requirements relating to common fund deposits and auditing.

Teaching and learning strategies

Strategy 1 Lectures providing overall content coverage Strategy 2 Face to face or online workshops/discussion Strategy 3 Use of UTSOnline as part of flexible learning initiatives
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Strategy 4 Practice file with specific deadlines Strategy 5 Online Quiz Strategy 6 Preparation of a commercial lease Subject Delivery / Lecture Format / Tutorial Format and Expectation of Student Participation Property Transactions is structured to be completed in one university semester. There are weekly modules 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 the semester. Delivery of the course is flexible in part. That is, students can set their own timetable as to when they wish to learn. For example lectures are delivered every Tuesday 5.30pm to 6.30pm in Autumn Semester and every Tuesday 2pm to 3pm in Spring semester commencing in week 1. Lecture slides will be made available in Course Documents on UTS Online each week prior to the lecture. Notes will also be posted in Course Documents on UTS Online. Off campus students are also welcome to attend the lectures. Opportunities for contributions and questions have been set up in the Discussion Board forum in UTS Online. Students are welcome to participate on the Discussion Board on UTS Online. Facilitators will monitor the Discussion Board. We encourage students to answer each others queries and to advise 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, certain deadlines have to be imposed to ensure an effective learning strategy and progression through the other subjects comprising practical legal training. For example, there are specific dates by which students must submit their practice files. Students should note that a university semester is a short amount of time and work should not be allowed 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 a clear and efficient manner. It is a good idea to set aside a regular time or times throughout the week to devote to your studies. The Week to Week Guide in Course Documents on UTS Online is divided into sections corresponding to the number of weeks it should take to complete the subject (not including the Faculty and Vice-Chancellors non-teaching weeks, revision or exam weeks). Each section covers a main aspect of the subject. All sections are organised in the same order. Readings and Research The essential readings are all available online via the UTS Library as e-readings. The readings are designed to supplement formal lectures. The Subject Outline suggests when to undertake each reading. Reading and understanding the lecture notes should take approximately one hour per week. Students should also feel free to read outside of the recommended reading list. Reading and research should take approximately two hours per week, although some students may wish to allocate more time to research, depending on their level of knowledge. Activities Throughout the semester there are 11 seminar/workshops. They will take place for On Campus students on Mondays/Tuesdays, in your group rooms. Students studying Off Campus should set aside 2 hours per week to complete the activities. The workshops enable certain issues to be discussed for the first time or in more detail than is possible in the lecture. Off campus students may 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 learned on the job. PLT focuses on these skills. You will be examined on these skills. Therefore, for On Campus students, attendance at the activities is vital.

Content
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Content
1. Introduction/Title Revisited 2. Vendor - Title and Interest 3. Purchaser - Title and Interest 4. Exchange and Post Exchange 5. Pre-settlement and Settlement 6. Commercial Leases - Part 1 7. Commercial Leases Part 2 8. Mortgages 9. Strata Titles - Part 1 10. Strata Titles - Part 2 11. Residential Tenancies, Powers of Attorney and Options 12. Exam Briefing

Program
Week Dates 1 2 Aug Description Introduction/Title Revisited Reading: See Week 1 of Week to Week Guide for online reading on Dept of Lands 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 Tutorial: Practice File Workshop 2 4 23 Aug Exchange and Post Exchange Reading: College of Law Practice Paper P201 "Sale of Residential Land", P201.160 to P201.245 College of Law Practice Paper P202 "Purchase of Residential Land", P202.65 to P202.150 Tutorial: Practice File Workshop 3 5 30 Aug Pre-settlement and Settlement Reading: College of Law Practice Paper P202, "Purchase of Residential Land", 202.155 to 202.260 College of Law Practice Paper P201 "Sale of Residential Land", P201.245 to P201.350 Tutorial: Practice File Workshop 4
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6 Sept

Commercial Leases - Part 1 Reading: College of Law Practice Paper P204, "Commercial Leases" Tutorial: Practice File Workshop 5

13 Sept

Commercial Leases Part 2 Reading: College of Law Practice Paper P204, "Commercial Leases" Tutorial: Practice File Workshop 6

8 9

20 Sept 27 Sept 4 Oct

Faculty non-teaching week VC's week 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 Tutorial: Problem Solving

13

1 Nov

Exam Briefing No prescribed reading Tutorial: Problem Solving

Additional information
Students must read this Subject Outline in conjunction with the Week to Week Guide in Course Documents 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
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that you: 1. have understood the subject content and can apply it appropriately to the assessment task at hand; 2. can identify ways of using this learning to enhance the quality of your own workplace or professional context; 3. have used relevant wider reading to enhance and comment on the issues under consideration; 4. have addressed each assessment task succinctly, clearly and with relevance and insight. All assignments must be lodged with a PLT cover sheet.(May be downloaded from Course Documents on UTSOnline.) Assessment item 1: Practice File Objective(s): Objective: 1, 2, 3, 4, 5, 6 Graduate Attribute: 3, 5, 6 35% On Campus students: on or before 6.00pm on Monday, Week 7 (if you settle on that day) or Tuesday, Week 7 (if you settle on that day) in the Assignment Box, Law Reception, Level 3, Building 5B Off Campus students: If the file is posted to UTS, the envelope must be date stamped on or before Tuesday, Week 7. If the file is placed in the Assignment Box, 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 conveyancing transaction. NB: DEADLINES FOR PRACTICE FILE (Tuesday in each of the Weeks referred to, except for students who have a Monday seminar, in which case Monday in each week): Exchange of contract Week 4 Hand in Transfer (On campus students only) - Week 5 Settlement Week 7 Hand in Practice File Week 7 You will take the role of a newly admitted lawyer under the supervision of a senior partner (played by a member of the teaching staff). Each week, between weeks 2 and 7, students will be required to complete certain steps towards the completion 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 Practice File Materials in Course Documents on UTSOnline (you will also be directed to source certain materials online). The steps are listed in each week's activities in the Week to Week Guide in Course Documents. Please check that your file contains all relevant material. No submission of parts of 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 be taken into account when your practice file is assessed. For On Campus students: the completed file must be handed in on or before 6.00pm on Monday 13 September, 2010 (if you settle on that day) or Tuesday 14 September, 2010 (if you settle on that day) in the Assignment Box, Law Reception, Level 3, Building 5B. Five (5) per cent of marks for the assessment task will be deducted per day for assessment tasks submitted after the due date. For Off Campus students: If the file is posted to UTS, the envelope must be date stamped on or before Tuesday 14 September, 2010. If the file is placed
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Weighting: Due:

Further information:

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 the assessment task will be deducted per day for assessment tasks submitted after the due date. The address to post the file to is: University of Technology, Sydney, Faculty of Law, PO Box 123 BROADWAY NSW 2007 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 practice file being returned to you for appropriate marking of steps and you will incur a one mark penalty per day until your file is resubmitted. Assessment will be based on the general assessment criteria referred to above for this subject. There are several potential areas for assessment in the practice file. They are: 1. Advice on contract 2. Negotiating amendments to the contract including special conditions 3. Exchange of Contracts 4. Analysing results of post exchange enquiries 5. Pre-settlement letter including Settlement Sheet 6. Settlement 7. Final letter to client 8. General correspondence 9. General file noting 10. Legal Accounting, including Costs Disclosure, Ledgers, Bill of Costs and Trust Statement 11. File Management, presentation and ethical issues, including adhering to Deadlines. Students will be assessed on selected areas. The selected areas will be disclosed when the files are handed back to students after assessment. The file requires you to draft and send correspondence to your client or the vendor's solicitors (both played by the teaching staff). In reality, all your correspondence 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 5% Weeks 11, 12 & 13 Participation in problem solving (in class for On Campus students; on UTSOnline for Off Campus students)

Weighting: Due: Task:

Further
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Further information:

In weeks 11, 12 and 13, students will participate in problem solving. A problem raising general conveyancing issues, which you might encounter in practice, will be posted on UTSOnline prior to each of weeks 11, 12 and 13. New facts and a new problem will be posted each week. On Campus students will research the issues during the seminar of each relevant week in small groups. After identifying and researching the relevant issues, 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 for each student. Off Campus students will research the relevant issues during each of the weeks following the posting of the problem on UTSOnline. After identifying and researching the relevant issues, each student is required to post on UTSOnline, in the allocated Discussion Forum, a contribution to the analysis and solutions of the problem. The posting need not be more than 100 words per week. You may choose to focus on one issue or develop one point. This posting may develop an idea from a previous posting of a student and may include comments about a previous posting. (Comments must not be personally critical.) Weekly contributions will be taken into account when the mark is allocated. No posting will be considered after 6pm on each Sunday of weeks 11, 12 and 13 relating to that weeks problem. The subject co-ordinator will allocate a 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, 3 Graduate Attribute: 5, 6 10% Midnight on Tuesday, Week 14 All students will complete a Quiz, which will comprise 10 multiple choice questions selected from the following topics: Commercial Leases, Mortgages, Strata Titles, Residential Tenancies, Powers of Attorney and Options. The Quiz is not set to a time limit. The Quiz will be set up on UTSOnline in Assignments in Week 10. The Quiz is to be completed online. Students will be given one opportunity to do the Quiz. Do not open the Quiz until you are ready to complete it. If you open the Quiz and do not answer every question you will be locked out of the Quiz.

Weighting: Due: Task:

Further information:

Assessment item 4: Commercial Lease Objective(s): Objective:1, 2, 5, 6 Graduate Attribute: 3, 5, 6

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Weighting: Due:

0% On Campus students: on or before 6.00pm on Tuesday, Week 11 in the Assignment Box, Law Reception, Level 3, Building 5B. Off Campus students: If the lease is posted to UTS, the envelope must be date stamped on or before Tuesday, Week 11. If the lease is placed in the Assignment Box, it must be handed in on or before 6.00pm on Tuesday, Week 11 . The address to post the lease to is: University of Technology, Sydney, Faculty of Law, PO Box 123 BROADWAY NSW 2007 Attention: Jenny Eggleton

Task:

Satisfactorily complete a commercial lease as directed in the Commercial Lease Workshop in the Week to Week Guide in Course Documents on UTSOnline. To be eligible to sit the Examination in this subject, students must have submitted a satisfactorily completed commercial lease as directed in the Commercial Lease Workshop. Details of this workshop are in the Week to Week Guide in Course Documents in UTSOnline.

Further information:

Assessment item 5: Final Examination Objective(s): Objective: 1, 2, 3, 5, 6 Graduate Attribute: 3, 5, 6 50% Formal Exam Period This will be an open book examination held during the examination period and will be two hours duration. The examination will deal with all the material dealt with during the semester including readings, lectures, seminars, activities and the practice file.

Weighting: Due: Task:

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

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

Required texts
1. Legislation referred to in Lectures
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2. College of Law Practice Papers as directed in this Subject Outline 3. Websites and other material as directed.

Recommended texts
Blair, P, Ticehurst, F and Nettle, K Looseleaf, Baalman and Wells Land Titles Office Practice NSW, 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, Langs 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 South Wales 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 Booklet which contains important information for all Law subjects. Students must regularly check UTS Online for any changes to the following course material and for announcements throughout the session.

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