For this task you are to complete the following activity to demonstrate your ability to take instructions in relation to a conveyancing transaction for a new client. All questions to be answered with respect to the Victorian(Australia) Conveyancing laws.

1 Establish the clients' needs for a conveyancing transaction.

Write paragraph on the importance of meeting with the client to identify, clarify and assess their needs and expectations. Use an example of a conveyancing transaction such as a purchase. Explain how you will use the meeting to help you:

• Determine, discuss and document the optional courses of action
• Check and document the information related to the transactions for accuracy and relevance
• Obtain and document mutual agreement from all parties regarding their responsibilities, obligations and expectations
• Accurately and promptly record and document the client's needs and responsibilities.

2 Perform the following actions to identify any conflict of interest.

Explain why it would be important to, and how you would:

• Identify and record any existing or potential conflicts of interest associated with the transaction. Provide an example of such a conflict.
• Assess the conflicts of interest to determine and record the appropriate action for the client and practice, and promptly advise the client of any necessary action. Use an example.

3 Review and comment on this process of identifying the parties, properties and other interests. Provide example to show your understanding.

• Accurately identify and explain the roles of the various parties involved in the conveyancing transaction. Document these parties and roles.
• Analyse the estates and interests in the property of the relevant transaction, and document these.
• Analyse the documentation and titles to confirm the facts pertaining to the transaction. Document this analysis.
• Accurately communicate to the client the details of the title and contract, and the respective consequences.

4 Explain how completing the following actions are important in determining the terms of engagement

• Decide, document and clearly and promptly provide to the client appropriate terms of engagement that comply with all legislative, regulatory and practice requirements.
• Establish and record the clients' agreement with the terms.
• Obtain authorities from the client and from the other relevant parties.
• Check the accuracy and completeness of the estimates of fees, disbursements and time periods, and record and provide these details to the client.

5 Provide some examples of contingency strategies relevant to conveyancing transactions. Why would it be important to:

• Assess and advise the client of these. Document the contingencies identified.
• In consultation with the client, determine and agree on contingency strategies and options. Document the agreed contingency strategies and options.

6 Review the process below for initiating a conveyancing transaction by applying it to an example.

• Select the course of action which meets the client's needs, and which complies with the relevant legislative requirements, policies and procedures. Document the course of action selected.
• Advise the client of all the actions that are to be implemented to meet their agreed needs and expectations.
• Confirm the instructions from client to proceed or not to proceed, and record these details.
• Where appropriate, make referrals to other professionals or third parties. Provide/document all referrals.
• Formally open, initiate, organise and document the transaction, including all the relevant instructions, information, facts and evidence in the client file. For example, provide the opening file note of a phone call from a new client.