Please Explain land ownership titles and key property law definitions as they apply to real estate practice.
? key points of the law relating to ownership (including co-ownership) and transfer of land in New Zealand.
Assignment :
For the purposes of this assignment, you have recently joined the team as the newest salesperson at Waterford Real Estate Ltd, working at the Waterford East branch under the leadership of John Canon.
1: First home buyers
You are working with customers, Tom and Lucy Bradshaw, who are keen to purchase their first home. Over a period of about 3 weeks you have shown them several properties, and they've shown considerable interest in five of them. You have given them a copy of the certificate of title for each of these properties.
(a) Tom and Lucy mention that they are rather confused by the titles of the five properties. They ask you to:
(i) identify the current owner/s of each home, and
(ii) explain each property in terms of tenure. In your explanation, describe how the tenure affects the rights and obligations of the owners.
can access the certificates of title from the Assessment area of this course.
(answer for each certificate of title .)
The titles to be explained are:
1. WN711/236.
2. WN127/488.
3. WN58A/764.
4. 911224.
5. 727372.
(b) Lucy says, 'I have an idea of what a mortgage is, but can you please explain this and the other interests on these titles? Some of these things sound as if they might impact on what we can or can't do if we bought one of these properties. We really don't want to make a mistake!'
Identify and explain the interests registered on each certificate of title listed in
(a) above.
Note: If already explained an interest in a previous title, don't need to provide a further explanation of the same type of interest in subsequent titles. However, need to identify all interests on each title.
(The explanation of each interest .)
(c) Tom says, 'I've been talking to our lawyer, and she says there's also something called limited as to parcels. She doesn't think we need to worry about that. Can you please give us a brief explanation?'
Please Explain this term and describe to Tom and Lucy how such a limitation, if present on a title, would affect them as potential buyers.
please find attached images for refference to answering questions
SAMPLE - FOR STUDY PURPOSES ONLY RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 Land FREEHOLD Registry Search Copy 7 Writer Identifier WN711/236 Ina Writer Registrar-Goural Land Registration District Wellington of Land Date Issued 10 March 2014 Prior References WIN21/773 Estate Fee Simple Area 637 square metres more or less Legal Description Lot 2 Deposited Plan 973211 Registered Owners John Michael Bryant and Susan Mary Bryant Interests C811237.1 Mortgage to Westpac Banking Corporation - 10.3.2014 at 9.08 am Appurtenancereto is a right of way and sewerage drainage and water drainage rights specified in Easement Certificate D322385.4 - 10.3.2014 at 9.10 amSAMPLE - FOR STUDY PURPOSES ONLY RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 Land FREEHOLD Search Copy Identifier 727372 Irma Writer Land Registration District Wellington of Land Date Issued 1 November 1972 Prior References WN 621/37 WIN 799/17 Estate Fee Simple Area 2101 square metres more or less Legal Description Lot 7 Deposited Plan 339201 Registered Owners Valley View Apartments Limited Interests Occupation Licence of Flat I and Garage 1 Plan 26634 embodied in Register WN 11C/1001 Occupation Licence of Flat 2 and Garage 2 Plan 26634 embodied in Register WN 11C/1002 Occupation Licence of Flat 3 and Garage 3 Plan 26634 embodied in Register WN 11C/1003 Occupation Licence of Flat 4 and Garage 4 Plan 26634 embodied in Register WN 11C/1004 Occupation Licence of Flat 5 Plan 26634 embodied in Register WN 11C/1009 Occupation Licence of Flat 6 Plan 26634 embodied in Register WN 110/1010 Occupation Licence of Flat 7 Plan 26634 embodied in Register WN 11C/10011 Occupation Licence of Flat & Plan 26634 embodied in Register WN 11C/10012 2932752 Search Copy Dated 3/12/18 9.42 am Page I of 3SAMPLE - FOR STUDY PURPOSES ONLY COMPUTER INTEREST REGISTER UNDER LAND TRANSFER ACT 2017 Search Copy Identifier WNIIC/1010 Irma Writer Land Registration District Wellington of Land Date Issued 1 November 1972 Prior References WN621/37 WIN799/17 Type Licence to Occupy under Part VIA Land Transfer Act 1952 Legal Description Flat 6 Deposited Plan 26634 Registered Owners Brian Stewart Fisher and Elizabeth Jame Fisher Interests A400319 Variation of the covenants conditions and restrictions of the within licence - 9.8.1978 at 9.30am 2932732 Search Copy Dated 3/12/18 9.42 am Page 2 of 3 Chem Reference Waterjord RAESAMPLE - FOR STUDY PURPOSES ONLY Identifier 727372 LOT 7 2101m BARROW ROAD ( Legal road) Thouaction ID 2932752 Search Copy Dated 3/12/18 9.47 am Page 3 of 3 Chiara Reference Waterford BESAMPLE - FOR STUDY PURPOSES ONLY Identifier WIN711/236 SEDDON STREET (Legal road) R.O. W & SERVICES LOT 1 EASEMENT 604m LOT 2 637m 2932752 Search Copy Dated 3/12/18 9.42 am Page I of 2 CMere Reference Waterford BYESAMPLE - FOR STUDY PURPOSES ONLY RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 CROSS LEASE Land Search Copy Identifier WN127/488 Inma Writer Land Registration District Wellington Regliner-Gmind of Land Date Issued 10 July 2012 Prior References WN27/421 Estate Fee Simple - 1/2 share Area 1014 square metres more or less Legal Description Lot 6 Deposited Plan 184185 Registered Owners Peter Brian Lang as to a 1/2 share Sarah Kate Wilson as to a 1/2 share Estate Leasehold Instrument L B075371.1 Term 999 years commencing on 31 March 1988 Legal Description Flat 1 DP 48861 and Garage 1 DP 48861 Proprietors Peter Brian Lang as to a 1/2 share Sarah Kate Wilson as to a 1/2 share Interests 5479955 Building Line Restriction (Affects Fee Simple) BO75371.1 Lease of Flat I and Garage 1 DP 48861 Tenn 999 years commencing on 31.3.1988 Composite CT WN41C/306 issued 8.4.1992 at 9.09 am (Affects Fee Simple) BO75371.2 Lease of Flat 2 DP 48861 Term 999 years commencing on 31.3.1988 Composite CT WN41C/307 issued 8.4.1992 at 9.09 am (Affects Fee Simple) B619691.2 Mortgage to ANZ Banking Group (New Zealand) Lid - 5 December 2017 at 9.13 am 2932752 Search Copy Dated 3/12/18 9.42 am Page I of 2 Cher Reference Waterhad WESAMPLE - FOR STUDY PURPOSES ONLY Identifier WIN127/480 Garage 1 Deck with DP 48061 pergola roof AMBROSIA AVENUE (Legalroad) FLAT 1 DP 40861 FLAT 2 DP 48061 Building line CHESTERFIELD DRIVE (Legal road) 2932752 Search Copy Dated 3012/18 9.42 am Page 2 of 2SAMPLE - FOR STUDY PURPOSES ONLY RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 UNIT TITLE Search Copy Identifier WIN58A/764 Irma Writer Land Registration District Wellington Reghines-Gmind of Land Date Issued 04 December 2005 Prior References WN2568/853 Estate Stratum in Freehold Area Unit C and Accessory Unit 3 Legal Description Deposited Plan Wellington 69707 Registered Owners Oka Leota, Simisi Leota and Waterford Trustee Company Limited The above estates are subject to the reservations, restrictions, encumbrances, liens and interests noted below and on the relevant unit plan and supplementary record sheet. D612217.1 Mortgage to Bank of New Zealand - 4.12.2005 at 2.40 pm 2932752 Search Copy Dawd 3/17/58 9.42 am Page I of 3SAMPLE - FOR STUDY PURPOSES ONLY Identifier WN58A/764 SUPPLEMENTARY RECORD SHEET UNDER LAND TRANSFER ACT 2017 Search Copy Identifier WINGDA/202 Land Registration District Wellington Date Issued 04 December 1995 Plan Number DP 69707 Prior References WN 2568/853 Unit Titles Issued WN58A/762 WIN58A/763 WN58A/764 Interests Fencing agreement in Transfer 225847 709788.1 Change of rules of the Body Corporate - 6.3.2014 at 9.05 amSAMPLE - FOR STUDY PURPOSES ONLY Identifier WN58A/764 AU AU AU 1 3 Common property PUC Common property PUB PUA Common property SPRINGFIELD WAY ( Legal road) Transaction ID 2932752 Search Copy Dated 3/12/18 9.42 am Page 3 of 3 Chere Asterence Waterford BYESAMPLE - FOR STUDY PURPOSES ONLY RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 LEASEHOLD Land Search Copy Identifier 911224 Irma Writer Land Registration District Wellington of Land Date Issued 21 August 2018 Prior References WIN256B/853 Estate Leasehold Instrument LB 122334.1 Area 672 square metres more or less Term Twenty one years Legal Description Lot 2 Deposited Plan 27913 commencing 1.7.2015 (Right of renewal) Registered Owners Desmond David Wang and Daisy Joy Wang Interests 8000163.2 Mortgage to Kiwibank Limited, 21 August 2018 at 12.51 pm 7732314.1 Caveat to Johnson William Chan, 9 September 2018 at 9.52 am 2932752 Search Copy Dated 3/12/18 9.42 am Page I of 2 Cher Reference Waterford BYESAMPLE - FOR STUDY PURPOSES ONLY Identifier 911224 LOT 2 672m BRIAR LANE (Legal road) 2932752 Search Copy Dated 3/12/18 9.42 am Page 2 of 2
