POSTGRADUATE PRACTICAL LAW COURSE 2002 CONVEYANCING PAPER ‘THURSDAY, 5 DECEMBER 2002 10.00 AM - 1.00 PM (GENERAL INSTRUCTIONS TO CANDIDATES A The Board of Legal Education Postgraduate Practical Law Course Examination Rules 2002 shall apply. On your answer booklet, - write your PLC number only (not your name); - for “Paper”, write “Conveyancing”. Answer any FIVE (5) questions. For Question 2, a Transfer (Blue Cover) is for you to complete and to be This question paper consists of Z pages (inclusive of this page). This is a 3-hour examination with an additional reading time of 10 minutes. ee-2- ANSWER ANY FIVE (5) QUESTIONS 1A, & 8 B 1c. You are a practising Advocate and Solicitor. The Bank for which you act, was doing show flat duty over the weekend at a newly launched development and has recommended a potential buyer, Mr K § Sic to you. Mr KS Sie was at the show flat over the week-end and was interested in the unit #04-08 but has not decided to place a deposit as he felt that he needed adequate legal advice before paying a single cent to the developer. He tells you that he is currently living in a HDB 5 room flat with his girlfriend, Ms Hmm Chai Sie, who is a non- Singapore citizen but a Singapore Permanent Resident. He says that he might want to include Ms Hmm’s name in the purchase but has not made up his mind as they had only been staying together for 6 months. As this is his first time considering buying a private property, he has requested that you “guide” him along, Make a list of at least 6 questions which you would ask Mr K S Sie and suggest briefly, why these questions are necessary so as to enable you to give adequate advice in relation to the purchase transaction It tums out that the developer is a licensed developer and now Mr K $ Sie would like to have a quick overview of what procedure is required and what documents he has to sign. He wonders if he has to sign on the acceptance of the Option like his cousin did last week when she bought a “second-hand” unit at an old development and he remembers that his cousin had to rush to sign the acceptance copy of the Option as it was nearing the end of a 7 days deadline failing which the whole option fees paid would be lost, From then on Mr Sie has a great fear of buying private property. Advise him on his scenario and also advise him on the steps required to be taken to secure a valid binding contract with the developer. Please also indicate 2 differences between his scenario and that of his cousin. Mr K S Sic, being ever so careful, has requested that you peruse all documents forwarded/to be forwarded by the developer and that you propose full amendments that you think will protect his interest. Please advise Mr Sie and also please highlight at least 3 clauses in the standard developer's sale agreement prescribed by the Controller of Housing that is meant to protect the buyer’s interest. Similarly please also highlight at least 3 clauses that protects the developer's interest.Your clients are Mr Alpha Bee and Ms Beta Zee. They have just exercised an option to purchase a flat without condominium facilities (“the Property”) and you have lodged a caveat CV/23455 against the Property on their behalf. The other relevant particulars are: Your clients: Mr Alpha Bee, Singapore Permanent Resident, Malaysian citizen, holding Singapore Blue NRIC No, 0123456F, Mam Beta Zee, Singapore citizen, holding Singapore Pink NRIC. No. 76543216. Both work in Singapore, reside at No. 2 Double Drive #02-22 Twin Towers, Singapore 022202 and are engaged to be married. Particulars of Sale and other particulars of the Property; Date of Option: Ist November 2002 Date of Exercise of Option: 15th November 2002 Completion Date: 15th January 2003 Purchase Price: $987,000 Vacant possession to be delivered on completion Address of the Property: No. 10 Gorgeous Grove #10-10 Perfect Plaza, Singapore 101188 Lot U777P of Mukim 5 SSCT Vol 33 Fol 99 (unquali issued) Vendor's particulars: See Bee Dee, (Singapore Pink NRIC No. 70667770), residing at the Property ed title; no restrictive covenants; CSC (@) Your clients would like to know if they can use their CPF money to pay towards the purchase price of the property as well as to service the housing loan they intend to take. What is your advice? () Your clients would also like to know the minimum amount of cash they have to put aside to pay towards the purchase price of the property as well as the amount of stamp fees they have to Pay on the sale and purchase contract. Advise your clients. (©) Prepare the draft Transfer in favour of your clients using the form attached.