NSWTVAL503A Investigate legal
interests in land – Assessment
NSWTVAL503A: Tasks
200/052/008/02/2006
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Contents
2
Introduction
4
Task 1: Report – title interests
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Task 2: Report – title issues
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NSWTVAL503A: Tasks
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Introduction
These tasks have been designed to help you develop the skills you need to
demonstrate that you are competent in this unit of competency. They are
generally based around case studies that describe situations that valuers will
regularly come across in their workplace.
Make sure that you refer to the guidelines provided by your teacher or
college before submitting these tasks.
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NSWTVAL503A: Tasks
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Task 1: Report – title interests
This task is based on the following scenario.
Scenario
You have just joined a medium-sized valuation firm in a large city in western New South
Wales. The property firm operates across a wide land-use spectrum. It values many
residential properties including individual properties in large medium-density
developments. Additionally, it does some valuation work on development sites.
The firm employs five full-time valuers and three valuation trainees. While the trainees are
all settling in well, they are inexperienced in the area of searching land titles.
The principal valuer of the firm has asked you to write some simple instructions for the
trainee valuers to use in relation to land titles and their application to valuation.
Task
Write a clear explanation of the main interests that can affect the freehold title land
encountered by the residential valuers. Indicate what the main title interests are and how
these interests can be discovered. Your explanation should cover the dangers involved in
missing important title matters. Additionally, it should indicate how the searches can be
implemented and how title searches can be linked with the physical property being
inspected and the valuation report.
In order to complete this task your report should specifically address the following:
1
What are the main title systems and how do these operate?
2
What interests in property are of importance to valuers?
3
Explain how interests in property can be searched.
4
Explain how interests in property can affect value.
5
Indicate how the various interests in property can be physically identified.
Your answer should be in report format, contain clear headings and use clear language.
The report should be 4–5 pages in length.
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NSWTVAL503A: Tasks
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Getting started
Learning support

Topic 1: Confirm registered interests Torrens title property

Topic 2: Interpret relevant Torrens title subdivision plans
Resources and references
Refer to the resources and references cited in Topics 1 and 2.
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Task 2: Report – title issues
Task 2 is based on the following scenario.
Scenario
The valuation firm you are working for has taken on a valuation job for XY Corp, a large
Australian company that holds big tracts of land. The titles of some of these were
originally granted in 1860. This company is currently considering tendering for some
government-held land adjoining one of its larger parcels.
You’ve been given a sketch (see Figure 1) which indicates:

the land owned by the corporation (Portion A)

the land that the corporation is considering acquiring from the government
(Portion B).
The total parcel will go into the corporation’s ‘land bank’ and will probably be used for
medium-density housing development in the future.
Figure 2 indicates relevant extracts from the title references.
Your firm has asked you to do a valuation to indicate what the total holding will be worth
after the acquisition. Because of your knowledge of land titles you are put in charge of
compiling a summary of the title issues relating to these two parcels. This summary will
guide the trainee valuers in their assessment and will also be included in the valuation
report.
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Figure 1: Sketch
Title Reference Portion A
The land comprises the whole of portion A in Conveyance XXX Book
number XXX being part of the land granted to the XY Company on 1 June
1860 and containing by admeasurement an area of 41 acres 2 roods and
20 perches.
A metes and bounds description follows (but is not cited here).
Title Reference Portion B
This is to be a new title created under the Real Property Act 1900.
Figure 2: Title references
NSWTVAL503A: Tasks
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Your task
You are to oversee the identification, summary and interpretation of all the interests that
will impact on the valuation of the amalgamated parcels Portion A and Portion B as
indicated by Figure 1. Prepare a report that summarises what the main title issues are and
how these might impact on any development potential of the land. Write the report in plain
language and try to avoid legal expressions.
In order to complete this task your report should specifically address the following matters.
1
Do any issues arise related to the sort of title depicted?
2
What interests could exist in this land and how would they be discovered?
3
Indicate any issues that might arise in respect of boundaries and other characteristics
that might require the opinion of other property professionals.
4
Conclude by summarising the influences of these titles that might be important to a
developer.
Your answer should be in report format, contain clear headings and use clear language.
The report should be 3–4 pages in length.
Learning support
This task is directly related to:

Topic 3: Identify circumstances requiring other professional opinion

Topic 4: Investigate and interpret unregistered interests for property reporting
Resources and references
Refer to the resources and references cited in Topics 3 and 4.
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