Conveyancing Process and Regulations in Victoria

This study material from Desklib covers various topics related to conveyancing in Victoria, including audit conduct, transfer of ownership, privacy regulations, road management, licensing, heritage regulations, land tax, and owners corporation responsibilities.

Page1
Diploma of Conveyancing
ANSWER – 26: TOPIC – 1
Anderson Property Transfers Pty Ltd
53 Lyndhurst Bvd
LYNDHURST, 3975 VIC
18 September 2018
The Office of Government Auditor,
Central Avenue Lyndhurst, 3587 VIC
Dear Mr. Dickens,
RE: Audit Conducted of our company
In this context, I am writing to you with regard to errors of omissions and commissions
noted in our accounts after the audit was conducted by you on 27 August 2018.
You will appreciate the fact that an accounting error does not constitute a fraudulent
discrepancy when noticed in financial documentation and duly reported. Our request is
to kindly arrange for a revised audit so that the discrepancies noted are regularized
under your able guidance.
Awaiting an early confirmation from your end.
Sincerely,
(Jonathan Jacobs)
Finance Manager

Page2
Date 18.09.18
Client Social Resident, Tiger Pvt. Ltd.
27 Camp Road Landhurst 3379
To Social Resident rd Conveyancing
From Neil Smith
Subject 27 Camp Road, Tiger Purchase
Notes Client SR has instructed us to act on his behalf re the above noted purchase of
land. The following are the instructions and notes received from the client
Actions Open file and commence the conveyance process as per p+p drafting of the
Letters to be sent as per the given checklist
ANSWER – 9: TOPIC – 2
This is the time for the conveyancer to register the appropriate transfer documents with
the Land Titles Office for changing ownership of the property. At this stage, discharge
of an existing mortgage has to be done, any existing caveats need withdrawal. If the
property is being pledged for a loan, the conveyancer has to look after the process of
stamping and lodging of the documents for registration after the settlement1.
The conveyancer is required to notify his client about these processes. He is also
required to inform the relevant authorities, including the concerned Owner’s
Corporation or the property manager about the change in ownership2. All these
processes, when completed, will close the conveyancing process and the owner can take
charge of the new home.
The following table shows the time line of this process.
Timeframe Stage
Day 1 Present Offer to Purchase in exchange for
an Option
Both Buyer & Seller : Engagement of
Solicitors
Buyer : Selection of Mortgage Loan
Within 2 weeks from Day 1 Buyer to exercise Option & sign Sales &
Purchase at solicitor's law firm
Within 2 weeks from
Exercising Option
Buyer to pay Stamp Duty
1 Ibp Inc. Australia Business Law Handbook Volume 1 Strategic Information and Basic Laws. (Int'l
Business Publications, Washington DC, 2013).
2 Clark, E.E. Cyber Law in Australia. (Kluwer law international, Amsterdam, 2010).

Page3
Within 8-10 weeks
from exercising Option
Completion of Sales & Purchase at Law
Firm
ANSWER – 10: TOPIC – 2
We follow the rules framed under The Privacy Act, 1988 (Privacy Act) and accordingly
regulates all the personal information of the clients handled by the organization.
Personal information3, as defined by The Privacy Act relates to –“…information or an
opinion, whether true or not, and whether recorded in a material form or not, about an
identified individual, or an individual who is reasonably identifiable.” This may contain
an individual’s name, address, date of birth, telephone number, medical records, bank
account details and signature or opinion about the client. We also regulate our client’s
tax file numbers, credit reporting system and health and medical research
information as per Part IIIA of the Privacy Act 1988.
We regulate the collection, usage, storage, security, disclosure and disposal of our
clients' TFN information as directed by4 The Privacy (Tax File Number) Rule,
2015 (TFN Rule) which has been issued under s 17 of the Privacy Act 1988. This TFN
Rule is applicable only to the information related to the TFN of individuals and is not
applicable to information related to TFN of corporations, partnerships and legal entities
including superannuation funds and trusts. Legally, the TFN Rule is binding on us. Any
breach of TFN Rule by us can be treated as an interference with the privacy of our
client’s under the Privacy Act5. Our client’s, if they consider that we have misused or
mishandled their TFN information, can lodge a complaint with the Office of the
Australian Information Commissioner (OAIC). The following table shows the time
line of this process.
Timeframe Stage
Day 1 Open a file in the name of the client.
Day 7 Tag the letters in the file of both Buyer &
Seller confirming Engagement of
Solicitors
Day 14 Tag in the file buyer’s confirmation letter
for selection of Mortgage Loan
Within 2 weeks from Day 1 Tag in the file all documents related to
buyer exercising his Option & signing of
Sales & Purchase agreements
3 Richard, T.A. (ed). Professional Business Law Essays. (Richard TA, New York, 2014).
4 Moens, G. and Jones, R. (ed). International Trade and Business Law Review, Volume 10. (Routledge,
Oxon, 2013).
5 Gibson, A. and Fraser, D. Business Law. (Pearson Higher Education AU, Frenchs Forest, NSW, 2013).

Page4
Within 2 weeks from
Exercising Option
Tag in the file documents related to buyer
paying Stamp Duty
Within 8-10 weeks
from exercising Option
Tag in the file all completed documents
of Sales & Purchase
ANSWER – 19: TOPIC – 2
VicRoads can exercise its powers under several Acts and the regulations noted in them.
It is VicRoads responsibility to develop and manage policies related to road
management. VicRoads has made a Road Management Plan for all property owners and
this is in accordance with section 49 of the Road Management Act, 2004 (External link).
All property owners are required to obtain a certificate from VicRoads certifying that
the new owner has done no harm to freeways and arterial roads managed by VicRoads
in Victoria6.
ANSWER – 30: TOPIC – 3
(a) Our company, Anderson Property Transfers Pty Ltd holds License No. 000836L.
This license is granted by Business Licensing Authority (BLA), which is an
independent body within the Department of Justice. Our principal is Anderson
Nicole Lorraine who holds License No. 000800L.
(b) In case your house is covered by the Heritage Act Victoria, you can still
develop, alter or remove any of the non-contributory elements of your house.
However, it is important to note that all developments which you carry out are in
a manner appropriate to appearance, character and significance of the heritage
area7. The council may refuse for a demolition permit, but you will not require a
planning permit covered by the Heritage Overlay for any routine maintenance
and repair works. Yes, we can arrange FHOG8 for you and based on the
information you have provided, you will be eligible for a FHOG of $20,000
provided the value of the new property is not more than $750,000.
(c) In Victoria, the Land Tax Act 2005 (Vic) levies the Land Tax as described in
section 7 of the Act. Section 8 of the Taxation Administration Act 1997 (Vic)
empowers the commissioner to make the assessments related to the tax. The
Local Government Act is the principal legislation9 in Victoria which governs the
6 Clark, E.E. Cyber Law in Australia. (Kluwer law international, Amsterdam, 2010).
7 Gibson, A. and Fraser, D. Business Law. (Pearson Higher Education AU, Frenchs Forest, NSW, 2013).
8 Latimer, P. Australian Business Law. (CCH Australia Limited, Sydney, NSW, 2012).
9 Richard, T.A. (ed). Professional Business Law Essays. (Richard TA, New York, 2014).

Page5
establishment and operations of the Local Councils on the basis of various
Regulations enacted under that Act.
(d) The Owners Corporation holds the responsibility for maintenance of the
common property in properties having independent units. The Owners
Corporations Act of 2006 states that the Owners Corporation is required, apart
from doing other things, to administer, manage, maintain and repair all the
common property in such properties. The Subdivision Act of 1988 is responsible
for planning of the subdivision and shows the different parcels of land which can
be sold separately.
BIBLIOGRAPHY
Clark, E.E. 2010, Cyber Law in Australia. Kluwer law international, Amsterdam.
Gibson, A. and Fraser, D. 2013, Business Law. Pearson Higher Education AU, Frenchs
Forest, NSW.
Ibp Inc. 2013, Australia Business Law Handbook Volume 1 Strategic Information and
Basic Laws. Int'l Business Publications, Washington DC.
Latimer, P. 2012, Australian Business Law. CCH Australia Limited, Sydney, NSW.
Moens, G. and Jones, R. (ed). 2013, International Trade and Business Law Review,
Volume 10. Routledge, Oxon.
Richard, T.A. (ed). 2014, Professional Business Law Essays. Richard TA, New York.