PROPERTY LAW SERIES - 2012 SIMON LIBBIS SUBDIVISION LAWYERS
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
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