Conveyancing Foundation of Legal Knowledge

Conveyancing Foundation of
Legal Knowledge
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1
Table of Contents
Answer 1.................................................................................................................... 2
Answer 2.................................................................................................................... 2
Answer 3.................................................................................................................... 3
Answer 4.................................................................................................................... 3
References................................................................................................................. 5

2
Answer 1
As the client wanted to sell the property, which consists of two small houses and is situated
partially in a floodplain, so various risks are involved for the client as well as the purchaser.
Conveyancing Regulation 2017 is applicable in this case. As per the law, all the documents to be
attached for the contract for the sale of land under section 52A (2). The client may have to pay
extra legal costs, installation charges, and other expenses. The client and the other party have to
pay various taxes such as stamp duty or surcharge tax as per the NSW property laws for the
purchasing or selling of property (Johnston & Leshinsky, 2018). Common risks are depreciation
and changes of law, other than these, there are environmental and safety risks involved for the
client.
The conveyancer would advise the client to make property insurance for covering future
complications that may occur while selling the property. If anything goes wrong, then the client
will be compensated. It is also advisable to the client to provide all the relevant details to the
buyer before buying blocks in the property. The client also requires to keep written records
related to the flood.
Some of the precautions taken to mitigate the risks involved for the client while selling the
property are as follows:
 The client need to make risk insurance for acquiring and selling the property to protect
the investing amount (Morris, Beedell & Hess, 2016)
 It should follow all the changes made in NSW laws to prevent environmental and
safety risks
Answer 2
In the given scenario, Sandra signed the store account contract without reading the terms and
conditions which clearly stated that the store could seize any of the property of the buyer if failed
to pay any payment. Sandra failed to pay one payment for the lounge suite, and the store
demanded her to hand over the car to them. She has to face several legal issues for this. The store
will send a legal notice to Sandra for handing over her car to make the complete payment.
Moreover, the complaint can be filed by the salesman in the court against Sandra with proper
jurisdiction for not complying with the rules of the store account contract (Giancaspro, 2017). It