LAWS2200: Property Law Isaac and Rebecca are Case Study - Law Assignment Help

Assignment Task:

Task:

Question 1
Isaac and Rebecca are a married couple and are joint tenants of real property in Parramatta which is validly registered in the Torrens title register and that they own outright. They have a son named Jacob. Both Isaac and Rebecca are interested in applying for a mortgage on their property to raise capital for a property investment. Rebecca goes to the Parramatta Bank to borrow $500,000 against their Parramatta property with an overdraft facility in an all money mortgage. Rebecca discusses her intentions with a junior bank officer named Sarah. She explains that the Bank will need to check the proof of identity for both Rebecca and Isaac as they will both be on the loan agreement and mortgage documents.
Rebecca provides her proof of identity to the Bank. However, she says that Isaac is very busy and cannot come to the Bank. Therefore, Rebecca states that she is acting as an agent for Isaac. She also tells Sarah that if there is going to be a problem, she can easily find another bank to apply for a mortgage. Sarah, who is fearful of losing customers in order to meet her work performance goals, tells Rebecca that the documentation for the loan application is fine. The loan agreement is signed by Rebecca. The Bank takes the Certificate of Title and registers the mortgage.
The loan agreement states ‘To accept this offer, you and, if there is more than one person, one and/or all of you must sign, except if one is duly authorised to sign on behalf of the other(s).’ Isaac soon after discovers that the property has been mortgaged. He is furious as he never agreed to the mortgage and wants it set aside. Isaac in a fit of rage pushes Rebecca off their second storey balcony and she falls to her death.
Advise Isaac.

Question 2
Thomas has inherited two adjacent country estates in the Southern Highlands of New South Wales from his late father. Matthias is a property developer and he is interested in purchasing one of the properties from Thomas and building a wedding reception venue with a bar and guest rooms. Thomas wants to keep the other property, but is concerned about Matthias’ plans. Despite Matthias’ oral assurances that he will try to keep the noise down once the business starts operating, Thomas is doubtful.
As a consequence, Thomas includes covenants on the transfer document:
The purchaser, his or her heirs or assignees, intend to bind ourselves that the property cannot be used to create excessive and unreasonable noise in wedding celebrations and reception parties.
The purchaser, his or her heirs or assignees, intend to bind ourselves in paying for the cost of erecting a fence around the boundary of the lot and to pay for the continual costs of maintenance and upkeep.
A structure no taller than one storey high shall be built.
Matthias purchases the property for $1,000,000 with notice of the covenants and registers his proprietary interests in the Torrens title register. Afterwards, Matthias decides to sell the property to Married 4 Life Pty Ltd for $1,300,000 who wish to implement Matthias’ original plans for the property for their own business. Married 4 Life were unaware of the covenants when they purchased the property.
Married 4 Life has constructed a two-storey wedding reception venue. Over the past 12 months of business operations, Thomas has had difficulties sleeping at his usual bedtime of 9 pm due to the loud music and boisterous activities of the patrons. Some patrons have gotten lost on Thomas’ property, because there is no fencing that divides the adjacent properties. Thomas feeling frustrated has recently completed sale of his property to Simon for $1,000,000 which Simon has lawfully registered in the Torrens title register.
Advise Simon whether there is any basis under the law which he can enforce the covenants against Married 4 Life Pty Ltd.

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