Question
1. Joanne, Mark and Marrie are clients who operate as a partnership selling cupcakes to the general public. They currently rent retail premises, but are
1. Joanne, Mark and Marrie are clients who operate as a partnership selling cupcakes to the general public. They currently rent retail premises, but are looking at buying their own shop. Advise them as to whether they should co-own as joint tennants in common, giving reasons for your answer in details for legal explanation.
2. Candice intends for her property development to maintain its value and charater. She would likje to set limits on the design of the residential buildings and materials to be used, even after she has moved on to other projects. What legal process would you recommend Candice use? Give detail legal reasons for your answer.
3. What are the differences between the Equitable Interest in Land and the Torrens System of Land Title? Give detail legal reasons for your answer.
4. Explain the Key features of the Strata Tile, Strata Corporation andd Community title. Include the main detail advantages and disadvantages of each one.
5. What is an easement of necessity and explain how it would arise? (you answer shoud include what an easement is in detail).
6. Phil and Claire expect to enter into Torrens Title mortgages to purchase their investment properties. They are worried that if they default on a mortgage, that the mortgagee bank will immediately be able to foreclose on the property and they will lose everything.
(a) is their statement correct?( Yes or no answer is required please provide an explanation to support your answer.)
(b) Explain to Phil and Claire what is the nature of a Torrens Title mortgage and what happens if a mortgagor default.
(c) Phil and Claire are investigating a number of options including buying a property in the City. In order to decide whether to invest in an apartment or an office, they would like to know the differences in leasing to a residential tennant as compared to a commerical tennant in details.
(d) Phil and Claire would like to know what is the requirement of the Contract of the Sale of Land, also they are unsure as to why they will need the services of a conveyancer. They have asked you to explain what are the requirement of thee Contract of Sale of Land and what a conveyancing service would do for them and if it is necessary in details.
7. Basil and Sybil are partners in a business that manufactures towels and similar items, called 'Fancy Towels'. They are keen to raise further capital to expand their business and are seeking your advice on various business and property matters. Sybil's Aunt Maud has recently died and left her a life interest in a house with the remainder to be passed to Sybil's cousin Audrey, upon Sybil's death. Sybil wants to know if she can mortgage the house to raise funds for the business and then leave the land to her own chilldren.
(a) What is your advice to Sybil? Your answer must include the detail explanation of the life interests.
(b) Basil and Sybil own the land on which the Fancy Towels factory is located as joint tennats. Is Basil able to sell the land without Sybil's permission or leave it in his will to someone other than her? Describe in details.
(c) Manuel, Basil's brother, has offered to lend Basil and Sybil $100,000 secured by a mortgage against the factory. For various reasons Manuel does not intend to register the mortgage on the certificate of title. If Basil and Sybil subsequently wanted to sell the factory building without paying back the loan, is there any way Manuel can protect his interest? Describe in details.
9 For Australia to become a republic, the Consititution has to be changed. What requirements must be satisfied beforea consititutional change is valid? Please describe in details.
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