18. Keiko was granted a life estate in Murakami Estate by way of gift. Keiko won a substantial prize in a lottery and purchased the estate in fee simple in the estate. Advise Keiko of the status of her life tenancy upon settlement of her purchase of the estate in fee simple.
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19. If Keiko owned the rear property to Murakami Estate and had placed a covenant in the contract that Su and Hew were prohibited from building more than one single storey dwelling house on Murakami Estate, how would such a restrictive covenant be incorporated into the Title?
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32. Sam signed an unconditional contract of sale to purchase Blueacre. A term of the contract
specifically stated that the purchaser “shall accept all risks associated with the land sold on the signing hereof’. The vendor was in occupation of the land. Due to an electrical fault, the premises on the land caught fire and were destroyed, including the vendor’s large indoor marijuana crop. The vendor’s insurer investigated the cause of the fire, along with police and fire brigade investigators, after the vendor claimed on his insurance policy. Sam, who had fallen in love with the land, wishes to complete the purchase, but only if he may take advantage of the vendor’s insurance policy. With reference to the Sale of Land Act 1962, advise Sam.
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42. Harry saw an advertisement for an apartment for sale “off the plan” with “massive stamp duty savings”. On Saturday Harry signed a Section 32 disclosure statement and a contract of sale and paid 5% deposit. On Wednesday following, Harry appointed you as his conveyancer. Special Condition 100 of the contract required Harry to pay “up to 10% of additional construction costs if the construction was over the building budget.” The budget was not disclosed. Harry, dismayed, wished he had never signed. Advise.
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46.
a) Must the vendor disclose a fencing notice from his neighbour?
b) Must the vendor include a VicRoads statement with sale?
c) Under the insurance contract act 1984; Can the purchaser rely on vendors insurance?
d) Is the insurer liable for the purchaser’s loss?
e) To what extent is the insurer liable?
f) Are there restrictions if the purchaser takes possession.? Upon what legal principle is this based?
g) If a contract is subject to finance, can the deposit be released to the vendor pursuant to section 27?
h) What are the main acts and subordinate legislation that govern the operation of VCAT?
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47. Can the purchaser cool-off in the following circumstances? Justify your answer.
a) P signs two contracts for two factory sites next door to each other, the prices being $139,000 and $225,000 respectively.
b) P signs a contract of sale to purchase a flat for $169,000.
P seeks the advice of his Conveyancer who advises ‘sure, go ahead and sign it – you’ve got three days to cool-off anyway’.
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61. You have just received a letter from the vendors conveyancer re James and Beyoncet:
Ivanhoe Conveyancing
Attention: Re James and Beyoncet 8a Lime Ct Bellfield
01 January 2001
Dear Sir/Madam,
We refer to the matter above and regretfully advise that our client’s mortgagee is not able to locate the duplicate Certificate of Title.
As a result we are not in a position to settle on 14 Jan 2001.
We will contact you with the aim to re-schedule as soon as we receive additional information from our client’s bank
Sincerely
Mercedes de Car
What do you do? Cite any relevant legislation in your answer.
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62. Beyoncet has organised the sale of her property and it is going smoothly. However two weeks before settlement she received a call from the r/e agent advising the purchaser wanted to add clauses/conditions to the contract to ensure the property was left in good condition on expiry of the lease and for when she moves in. Given that Beyoncet and James were overseas and were only contactable via email, her Conveyancer advised the r/e agent that given the purchaser had already signed the contract with the lease condition, it would not be in the vendor’s interest to be adding further conditions now, and the condition of the property on expiry of the lease would be covered by the bond, which is something the r/e agent needs to manage.
a) What do you think the outcome was to this situation for the purchaser? Why?
b) Beyoncet was enjoying her short break with James overseas and she sent her Conveyancer
instructions to get the deposit released for her unit. It seems the holiday was a bit more expensive than they had planned and they have run out of money.
Unfortunately, on the letter from the bank, for s27 purposes the purchasers conveyancer states Beyoncet has her account in default and on that basis the purchaser won’t release the deposit unless the bank writes another letter saying that our client is not in default.
What do you do?
Go to pexa.com.au, join as an interested party through their community register, and thoroughly read through their e-conveyancing functions. In particular search their library for sample instructional videos, interactive tutorials and subscribe to the PEXA newsletter. Include a copy of your registration with PEXA as third party with your submission.
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