Reference no: EM133394677

Case Study: In this scenario, you have been contacted by John and Jane Smith, who are interested in purchasing a property. They have provided you with the proposed Contract of Sale and Section 32 Vendor Statement, which you will need to review before meeting with them. Tomorrow, the Smiths will attend your office for a meeting, during which they will provide you with further instructions and expect you to provide some preliminary advice regarding the documents. As their conveyancer, it is your responsibility to ensure that they have a clear understanding of the legal implications of the purchase and that their interests are protected throughout the conveyancing process.

To complete the task, you must provide your client with a detailed letter of advice regarding the Contract of Sale and Section 32 Vendor Statement. In the letter, you should address the following points:

Questions:

• Explain the significance of the Contract of Sale and Section 32 Vendor Statement, and their respective purposes.
• Discuss the use of precedents, including general conditions and Section 32 Vendor Statements, and how their use applies to the documents provided.
• Inform the client about any duty concessions or exemptions that they may be eligible for.
• Identify and assess the rights, responsibilities, and liabilities of all parties expressed or implied in the document.
• Identify any lack of conformity with the client's initial instructions, and any gaps, lack of certainty, or ambiguity in the language.
• Assess legal and non-legal issues and risks to the client arising from the document.
• Interpret the extent to which the document does or does not protect the client's interests.
• Identify key terms or points for negotiation with third parties or other professionals.
• Identify any information that needs to be obtained from or provided to third parties or other professionals in relation to the document.
• Check that the documents conform with the client's instructions, and provide advice to rectify any lack of conformity.
• Identify if the property will be part of an owner's corporation and the statutory requirements of owner's corporations.
• Explain the legal interests of the client in relation to the document, and any essential terms to protect their interests.
• Identify any non-legal interests or needs of the client related to the subject matter of the document.
• Invite the client to meet with you to sign the documents, and provide instructions for signing if they choose to sign in their own time, including a discussion of the rules governing signing and witnessing of documents.
• Advise the client of alternative courses of action, including outlining legal and non-legal consequences for each alternative.