Conveyancing Procedures II

Curriculum Guideline

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Course
OADM 1436
Discontinued
Yes
Course Code
OADM 1436
Descriptive
Conveyancing Procedures II
Department
Office Administration
Faculty
Commerce & Business Administration
Credits
1.50
Start Date
End Term
202010
PLAR
Yes
Semester Length
7½ weeks X 8 hours/week = 60 hours/semester
Max Class Size
24
Contact Hours
Lecture: 4 hours per week/30 hours per semester Lab: 4 hours per week/30 hour per semester
Method(s) Of Instruction
Online
Learning Activities

Communication between instructor and students will be conducted online using WebCT e-mail, discussion, chat utilities, guided practices, assignments, and case studies.  Students will work both independently and collaboratively to learn and apply procedures and tasks carried on in a legal office.  Both learning activities and evaluations will be structured to stress problem solving, accuracy, and working within time constraints.

Course Description
This is a BCCampus online provincial course. This online course introduces the student to the role and responsibilities of a Legal Administrative Assistant employed in the field of conveyancing in British Columbia. This course is a continuation from the material covered in Conveyancing Procedures I. Students will gain knowledge and practical experience in topics such as methods to convey interests in land involving purchaser financing, strata property considerations, builder’s liens, acting for the vendor, acting for mortgage lenders, additional adjustments for statements of adjustments, authorities to pay, the execution and registration of electronic documents filed in Land Title Offices, acting for both the purchaser and mortgagee, and documents for the transfer of manufactured homes.
Course Content
  1. Concepts for a financed purchase of new strata property
    • Strata property
      • Strata corporation
      • Unit entitlement
      • Maintenance fees
    • Net proceeds of mortgage loan
    • GST and GST Rebates
    • Builder’s Liens
  2. Procedures for a financed purchase of new strata property
    • Information gathering
      • Mortgagee particulars
      • Strata information
    1. Completion preparations
      • Preparing LTO electronic Declaration
      • Confirming net mortgage funds
      • Additional information for Property Transfer Form
      • GST Rebate calculations
    2. Statement of Adjustments and Trust Reconciliation
      1. GST and rebate adjustment
      2. Strata maintenance fee adjustments
      3. Builder’s lien and holdbacks
      4. Mortgage adjustments
      5. New Trust Reconciliation items
    3. Completion procedures
      1. Undertakings for mortgagee
      2. Sequence for registering LTO documents
  3. Concepts and procedures for vendor in sale of property
    • Receiving documents from purchaser
    • Authority to Pay
    • Discharging existing encumbrances on title
    • Preparing Land Title Office electronic Form C – Release
  4. Mortgages
    • Mortgagee expectations
    • Acting for the mortgagee
    • Mortgage Terms
    • Mortgage Definitions
    • Preparing Land Title Office electronic Form B – Mortgage
    • Authority to Pay for mortgages
    • Procedures for registering a mortgage
  5. Acting for two parties
    • Conflict of interest
    • Procedures for a financed purchase when acting for the purchaser and mortgagee
  6. Situational Adjustments
    • Adjustment for property tax when amount is unknown
    • Adjustment for property tax when lawyer or notary will pay the amount on completion
    • Adjustment for assumption of mortgage
    • Adjustment for mortgage back to vendor
  7. Manufactured homes
    • Manufactured Home Registry
    • Documents required for registering transfer of a manufactured home
Learning Outcomes

The learner has reliably demonstrated the ability to:

 

  1. Define strata property.
  2. Recognize the GST and GST rebate requirements for the conveyance of new or substantially renovated property.
  3. Describe the situations where builder’s liens may arise and the procedures required obtaining their discharge.
  4. Calculate additional adjustments or amounts required to create Statements of Adjustments, Trust Reconciliation, and Statements of Account for a financed conveyance.
  5. Translate an understanding of transactions involving a purchaser financing a purchase by creating correspondence and documents relating to a financed purchase inclusive of all procedures from file opening to file closing.
  6. Calculate Authority to Pay for vendors and mortgagors.
  7. Translate an understanding of transactions involving a vendor selling property by creating correspondence and documents relating to a sale inclusive of all procedures from file opening to file closing.
  8. Translate an understanding of mortgages involving a mortgagee lending a mortgage loan by creating correspondence and documents relating to the registering of a mortgage inclusive of all procedures from file opening to file closing.
  9. Describe issues, rules and procedures involved when acting for both a purchaser and a mortgagee in the same transaction.
  10. Translate an understanding of transactions involving acting for both a purchaser financing a purchase and a mortgagee giving the loan by creating correspondence and documents relating to a financed purchase inclusive of all procedures from file opening to file closing.
  11. Translate an understanding of Manufactured Homes transactions by creating correspondence and documents relating to a purchase.
  12. Observe professional standards in the maintenance and use of checklists.
Means of Assessment
Participation 10%
Assignments 15%
Simulation
Cash Conveyancing /Acting for Purchaser		 20%
Quizzes 25%
Final Exam   30%
Total 100%
Textbook Materials

Textbooks and Materials to be Purchased by Students

 

Yip, Titus. Introduction to Residential Conveyancing. DFC Publications. (Current Edition)

Corequisites

OADM 1435 or equivalent