20. William's mum received a gift of $100,000 (from her first cousin) when William was 12 years of age. The gift was accompanied by a signed letter stating the gift was:"to be applied for the benefit of William until he reaches the age of 21 years, as [William's mum] sees fit",

William's mum immediately decided to invest the money on William's behalf by purchasing Ivanhoe Manor, and she signed a document with her solicitor at the time of purchase declaring the true facts. The land was eventually registered in her name.Explain and advise William's mum of the likelihood of stamp duty being attracted under the Duties Act 2000 (Vie.) by her transferring the land from her name into William's name. Assume Ivanhoe Manor was purchased for $100,000 nine years ago and is now valued at $1,000,000.

39. How could a co-operative Vendor and Purchaser in a private sale avoid using a stakeholder to hold a deposit pending settlement?

13. Rob was the registered proprietor of an unencumbered estate in fee simple. Rob travelled overseas for 12 months. Rob's partner, Rick, remained in Victoria for work purposes, and one day located Rob's duplicate Certificate of Title. Rick pretended to be Rob, and sold Rob's land, and expertly forged Rob's signature on a transfer of land to Fiona. Fiona in due course became the registered proprietor of Rob's land, as a bona fide purchaser for value without notice, and took up residence in the property. The sale price was $650,000.00 paid for by Fiona with a loan for $400,000 from her Mortgagee, the Eastpac Bank of Wanderers Ltd. (incorporated in Tasmania). The mortgage for $400,000.00 was also registered. Rob returned from overseas, and has discovered the true state of affairs. Fiona:

a) cannot claim an indefeasible title because of Rick's fraud;b) can claim an indefeasible title despite Rick's fraud;c) can claim an indefeasible title because she is a bona fide purchaser for value without notice and is now the registered proprietor on the Certificate of Title; ord) cannot claim an indefeasible title because the registration is void or voidable

56. Calculate the amount of stamp duty payable to SRO on the following considerations: $28,000$21,000$109,000

$79,000 $282,000 $981,500

Answer

57. Calculate the LTO lodgement fees on the following transfer considerations: $240,000$2,340,000$945,650 $445,750 $890,000

Answer

58. Calculate the land registry office fees on the lodgement of plans of subdivision containing the following number of lots.

215 24 80

Answer

59. How could the margin scheme apply where a newly constructed residential apartment is built (value $200,000 as at 1/7/2003), and sold for $244,000 on the 15 July 2005?