Course Title: Finalise the conveyancing transaction
Part B: Course Detail
Teaching Period: Term1 2024
Course Code: LAW5756C
Course Title: Finalise the conveyancing transaction
Important Information:
Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance.
School: 525T Business & Enterprise
Campus: City Campus
Program: C6170 - Advanced Diploma of Conveyancing
Course Contact: Theresa Lyford
Course Contact Phone: +61 3 9925 5444
Course Contact Email: theresa.lyford@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Joseph Detering
Nominal Hours: 30
Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.
Pre-requisites and Co-requisites
None
Course Description
In this course you will acquire the skills and knowledge required to complete conveyancing transactions and verify that all matters relating to arranging settlement, determining contingency strategies, completing transactions, and implementing post-transaction procedures and using Electronic Lodgement Network Operators (ELNOs), where required.
This course addresses the following units of competency:
- BSBCNV512 - Finalise the Conveyancing Transaction
- FNSORG601 - Negotiate to achieve goals and manage disputes
These units are clustered for delivery and assessment.
National Codes, Titles, Elements and Performance Criteria
National Element Code & Title: |
BSBCNV512 Finalise the conveyancing transaction |
Element: |
1. Arrange settlement |
Performance Criteria: |
1.1 Identify all parties to the transaction and take all relevant actions to ensure they are ready to complete the transaction 1.2 Fulfil transaction requirements and confirm completeness 1.3 Identify and collate information relevant to preparation of settlement statements and prepare and reconcile statements 1.4 Identify funds pertaining to the completion of the transaction and advise relevant parties 1.5 Ensure funds required for the completion of the transaction are received within the required timeframe 1.6 Arrange settlement with all relevant parties and invite participants to an Electronic Network Operator’s settlement space, where required 1.7 Attend the settlement, where required 1.8 Confirm documents are stamped and relevant duty is paid according to legislative, regulatory and the practice’s requirements |
Element: |
2. Determine contingency strategies |
Performance Criteria: |
2.1 Identify unfulfilled contractual obligations and assess possible contingencies 2.2 Identify and evaluate a range of contingency strategies and options and articulate these to the client 2.3 Determine strategies and options in consultation with client and according to practice policies and procedures, and legislative, regulatory, contractual and professional requirements |
Element: |
3. Complete transaction |
Performance Criteria: |
3.1 Confirm transaction arrangements with all relevant parties and verify conditions for the finalisation of the transaction 3.2 Arrange and perform final searches and inspections, where required 3.3 Examine transaction documents for accuracy and completion 3.4 Complete transaction with all relevant parties 3.5 Lodge stamped documents for registration according to legislative and practice requirements |
Element: |
4. Implement post-transaction procedures |
Performance Criteria: |
4.1 Advise all relevant parties of transaction completion 4.2 Make outstanding payments 4.3 Monitor and conclude outstanding matters 4.4 Confirm registration change on title, where required 4.5 Return documents to client and third parties 4.6 Receive and disburse funds as authorised 4.7 Prepare and dispatch invoices to client and other parties 4.8 Update financial, business and client records 4.9 Close and archive file according to legislative, regulatory, contractual and practice requirements |
Learning Outcomes
On successful completion of this course you will have developed and applied the skills and knowledge required to demonstrate competency in the above elements.
Details of Learning Activities
Learning activities are set out in the weekly lessons in canvas in accordance with the teaching schedule below.
Teaching Schedule
Course Schedule: Finalise Conveyancing Transaction and Negotiate to Achieve Goals and Manage Disputes, Semester 1, 2024 | ||
Week |
Topic |
Assessment |
Week 1 |
Introduction to Unit Negotiation part 1: Introduction and preparation |
|
Week 2 |
Negotiations part 2: Tactics and making offers |
|
Week 3 |
Negotiation part 3: Documenting the settlement & post settlement management |
|
Week 4 |
Types of Dispute Resolution Advising clients about dispute resolution |
|
Week 5 |
Breach of contract and remedies |
Assessment Task 1 DUE |
Week 6 |
PEXA training ONSITE at 80.05.09 (That is building 80, Level 5, Room 9). Building 80 is the Swanston Academic Building located at 445 Swanston Street, Melbourne. Class will start at 6:30pm |
|
Week 7 |
PEXA training ONSITE at 80.05.09 (That is building 80, Level 5, Room 9). Building 80 is the Swanston Academic Building located at 445 Swanston Street, Melbourne. Class will start at 6:30pm |
|
Mid Semester Break 29/03/2024 - 05/04/2024 | ||
Week 8 |
PEXA training ONSITE at 80.05.09 (That is building 80, Level 5, Room 9). Building 80 is the Swanston Academic Building located at 445 Swanston Street, Melbourne. Class will start at 6:30pm |
Assessment Task 2 Part 6 in class (onsite) |
Week 9 |
PEXA training ONSITE at 80.05.09 (That is building 80, Level 5, Room 9). Building 80 is the Swanston Academic Building located at 445 Swanston Street, Melbourne. Class will start at 6:30pm |
Assessment Task 2 Part 6 in class (onsite) |
Week 10 |
In class assessments role play conversation with client Theory of Adjustments of outgoings
|
Assessment Task 2 Part 1(b) in class (online) |
Week 11 |
In class assessments role play mediation |
Assessment Task 2 Part 4 in class (online) Assessment Task 2 DUE |
Week 12 |
Adjustments practice |
|
Week 13 |
Adjustments practice
|
Release of documents for Assessment Task 3 |
Week 14 |
In-class assessment on adjustments of outgoings and letter of advice |
Assessment Task 3 in class (online) |
Week 15 |
Course Review |
|
Week 16 |
Feedback Resits and Resubmissions |
|
Week 17 |
Final Resubmissions and Grade Entry |
Learning Resources
Prescribed Texts
References
Other Resources
Weekly powerpoints, journal articles, LPLC websites and resources, contracts of sale, section 32 statements, legislation and cases
Overview of Assessment
Assessment for this course is ongoing throughout the semester. Your knowledge and understanding of course content is assessed through participation in class exercises, oral presentations and through the application of learned skills and insights to your written tasks. Full assessment briefs will be provided and can be found on CANVAS.
Assessment Tasks
Assessment task 1 - This assessment allows learners to demonstrate knowledge on negotiation processes and strategies; assess their understanding of dispute management, risk management and contract law; and to assess their understanding of consumer rights and guarantees under Australian Consumer Law.
Assessment task 2 - This assessment allows learners to demonstrate their skills and knowledge to address complex problems involved with Contracts of Sale of Land and how to resolve disputes that arise concerning the settlement of the conveyancing transaction.
Assessment task 3 - This assessment task allows learners to demonstrate their skills and knowledge to complete conveyancing transactions and ensure all matters including arranging settlement, determining contingency strategies, completing transactions and implementing post-transaction procedures, as appropriate, are completed.
Details of all assessment tasks are provided for all learners in canvas.
Assessment Matrix
Other Information
Submission Requirements
- Ensure that you submit assessments on or before the due date.
- Always retain a copy of your assessment tasks. (hard copy and soft copy)
- When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
- Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Resubmissions (VET Programs)
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one resubmission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the resubmission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Penalties for Late Submission
Late submissions of assignments without special consideration or extension will automatically be considered a re-submission (see above).
Extensions, Special Consideration and Adjustment to Assessments
Extensions:
Extensions are available for unforeseen circumstances of a short-term nature.
An application form must be submitted to the school at least one working day before the due date of the assessment.
Extensions can be approved for a maximum of one week (seven calendar days) past the due date for an assessment. (Where students need an extension exceeding one week they must instead apply for special consideration.)
Special consideration:
Special consideration is available for unexpected circumstances outside students’ control. These include but are not limited to: unexpected short-term ill health, and unavoidable family, work, cultural or religious commitments.
An application for special consideration is made in advance of an assessment wherever possible but will normally be accepted within five working days after the assessment date
For more information, see the Special Consideration page of the RMIT website.
Adjustments to Assessment:
RMIT provides several adjustments to assessment for students experiencing ongoing or long-term circumstances. Find the right one for your circumstances here.
Changes to the Assessment Scheme
Where a change to assessment approved by the Dean/head of school changes an assessment due date, students will be given at least five working days’ notice of the new due date.
Feedback
You can expect to receive marks and feedback on in-course assessment work in time to improve your performance in related assessment tasks later in the course.
Academic Integrity and Misconduct
Students demonstrate academic integrity in their assessment practices by:
- engaging with assessment activities in an honest way;
- providing accountability for the authorship and originality of work submitted;
- acknowledging the work of others and the re-use of original work.
Academic misconduct is addressed in accordance with the Student conduct policy
Assessment involving research with human participants, their information or their tissue, or animal subjects is carried out in accordance with the Staff ethics and integrity policy.
For further information see the Academic Integrity website.
Review and Appeal
A student may request a review of an assessment result or appeal a final course grade in accordance with the Conduct of assessment and appeals section of the Assessment Processes.
Grade Criteria
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
The following grades are available for this course.
CA - Competency Achieved
NYC - Not Yet Competent
DNS - Did Not Submit for assessment
Course Overview: Access Course Overview