PROPERTY LAW SERIES - 2012
THE CONVEYANCING MASTERCLASS
A presentation for the Law Institute of Victoria on
15 March 2012
BY
SIMON LIBBIS
SUBDIVISION LAWYERS
slibbis@gmail.com
0488 LIBBIS
www.subdivisionlawyers.com
CONVEYANCING MASTERCLASS
Simon Libbis
Program for Today
Special Conditions
• Needed?
• Drafting
• Common ones
Rescinding Contracts - statutory rights and default
Boundary problems and solutions
Terms contracts – obligations and compliance
Covenants – creating, removing and modifying
Mortgagee sales – selling, buying and foreclosing
Adverse Possession – when and how
CONVEYANCING MASTERCLASS
Simon Libbis
Special Conditions
Needed?
Drafting
• What
• Who
• When
• Consequences
CONVEYANCING MASTERCLASS
Simon Libbis
Common Special Conditions
Registration of plan of subdivision
Building works to be done
Works affecting surface level
Conditions precedent – sale, approvals, etc
FIRB
Deposit – investment, bonds and guarantees
Environmental – contamination, asbestos, etc
Mortgagee/executor sale
Purchaser access
Guarantee
Land and building packages
CONVEYANCING MASTERCLASS
Simon Libbis
Rescinding the Contract
Breach of statutory obligation
Default by
• vendor
• purchaser
• both
Remedies
Notices
Practicalities
CONVEYANCING MASTERCLASS
Simon Libbis
Boundaries
Contractual issues
•
Pre-contract
•
GC 3
•
Assignment of possessory rights
Buildings and airspace
Solutions
• NICO
• Section 99 TLA
• Adverse possession
CONVEYANCING MASTERCLASS
Simon Libbis
Terms Contracts
Definition
Ottedin Investments Pty Ltd v. Portbury
Developments Co Pty Ltd [2011] VSC 222
Sale of Land Act requirements
•
Part II Division 4
•
GC 23
•
Section 32(2)(f)
Consumer Credit Code
GST
Acting for the parties
CONVEYANCING MASTERCLASS
Simon Libbis
Creating a Covenant
Legal Requirements
• Touch and concern
• Run with land
• Negative obligation
Record on title –
• Application
• Transfer of Land
• Plan
CONVEYANCING MASTERCLASS
Simon Libbis
Removal/Modification of Covenant
By agreement – section 88 TLA
Planning Permit
Amendment to planning scheme
Court order – section 84 PLA
CONVEYANCING MASTERCLASS
Simon Libbis
Mortgagee Sales
Exercising the power of sale
Disclosure and contractual requirements
Other mortgages and caveats
Transfer documentation
Disbursing the proceeds of sale
Foreclosure
CONVEYANCING MASTERCLASS
Simon Libbis
Adverse Possession
Exception to indefeasibility - section 42(2)TLA
Evidence required
Removing encumbrances
The process
Competing road closures by councils
PROPERTY LAW SERIES - 2012
THE CONVEYANCING MASTERCLASS
A presentation for the Law Institute of Victoria on
15 March 2012
BY
SIMON LIBBIS
SUBDIVISION LAWYERS
slibbis@gmail.com
0488 LIBBIS
www.subdivisionlawyers.com