RES420 Assignment 2

Task 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: identify the current owner's of each home, and explain each property in terms of tenure. In your explanation, describe how the tenure affects the rights and obligations of the owners. You can access the certificates of title from the Assessment area of this course. (Your answer for each certificate of life should be up to 200 words.J The titles to be explained are: 1. WN711/236 2. WN127/480 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 you've already explained an interest in a previous title, you don't need to provide a further explanation of the same type of interest in subsequent titles. However, you must identify all interests on each title. (The explanation of each interest should be up to 200 words.) (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 briel explanation?"