PRO210 - Law For Land and Property - Case Study - Law Assignment Help

Assignment Task -                 
 

instructions

Please complete ALL questions in a word document and then  upload your document to Turnitin. Each question should be  clearly labelled. 

PART A 

3 LONG ANSWERS

Question 1: 

An auctioneer at two different points in the auction  acknowledges two bids in order to encourage further bidding. In  fact these two bids were not made. Is the auctioneer permitted  to do this? Explain the legal position here. 

Question 2: 
Mike wishes to sell Bob a block of land which is surrounded by  freehold land owned by three other persons with one other lot  owned by Mike which is adjacent to a public road. Bob is willing  to purchase the land. What must Bob do to protect his access to  his property? Your answer should include how Bob would  undertake this step and what would need to be established.

Question 3: 

Mr Hunter leaves his Certificate of Title in safe custody with his  solicitor, Mr Matthews, along with an executed Transfer. The  name has been left blank on the transfer. Mr Matthews  convinces a buyer to purchase the property. The property is  worth $4.5 million but Mr Matthews sells it to Mr Smith for $4  million to get his hands on the cash. He promptly flees overseas.  Mr Smith does not question the price but jumps at the  opportunity to buy the property cheaply. He then on-sells the  property to Mr Jones.  

Explain Mr Hunter’s causes of action in this case against any of  the other parties. In addition, explain any rights which he has  lost. 

PART B 

1 CASE STUDY  

Question 4: 

Tom and Emma have been married for 15 years. They have 3  children, Jane (10), Jimmy (8) and Jack (6). In October 2016,  Tom and Emma bought an investment property 3 hours south of  Sydney in Kiama (“the Kiama Property”). The total purchase  price for the Kiama Property was $750,000. Both Tom and  Emma contributed their joint savings in the sum of $200,000 to  the purchase price. Their mutual friend, Bob lent them the sum  of $100,000 towards the purchase price on 10 October 2016  (“Bob's Mortgage”). Bob never registered the mortgage as he  knew that eventually he would be paid back by Tom and Emma.  They had been friends for many years. The balance of the  purchase price was funded by a registered loan from the  Commonwealth Bank of Australia (CBA)(“CBA Mortgage”) dated  11 October 2016.  

On 5 March 2017, Tom and Emma got into financial difficulties  and asked their friend Jane to lend them the sum of $50,000.  Jane agreed provided the contract stated that the Kiama  Property was given as security. The contract was not in  registrable form. On 10 March 2017, the contract was signed  and the sum of $50,000 was provided by Jane to Tom and  Emma ("Jane's Mortgage").  

The title of the Property and the CBA Mortgage was in Emma’s  name only. Tom was unable to obtain secured finance in his  own name having previously declared himself bankrupt in 2015.  It was Tom and Emma’s plan to eventually retire, move out of  Sydney and live in the Kiama Property.

They had both been  under a lot of financial stress and knew that eventually it would  be best to move out of Sydney once their children were a little bit  older. Just recently however, Tom has found out that Emma  plans to leave the relationship as she has a new partner, Bill. Bill  and Emma and been in a relationship for the past few months  behind Tom’s back. Tom also hears through mutual friends that  Emma has already engaged the services of a real estate agent  and plans to sell the Kiama property as fast as can.

She wants to take all of the funds from the sale and start a new life.  Understandable Tom is very concerned about protecting his  interest in the Kiama Property.  

You are a Property Lawyer and Tom makes an appointment to  see you for the following information and advice:  

a. Advise Tom on what steps, if any, you can take on his behalf  to protect his own interest in the Kiama Property. Give Tom as  much information as possible so he understands the process.  

b. Advise Tom exactly how you will undertake the step(s) you  have identified in the above.  

c. Assuming the Kiama property is sold, explain to Tom the  order in which the mortgages will be discharged and why.  

d. Assuming the Kiama property is sold, explain to Tom the  order in which the sale proceeds will be disbursed citing any  relevant legislation

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