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Unit of competency details

BSBCNV615 - Interpret search results for a conveyancing transaction (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBCNV601 - Identify and conduct searches 18/Oct/2020

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 19/Oct/2020


Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 090901 Business And Commercial Law  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 090901 Business And Commercial Law  19/Oct/2020 
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Unit Of competency

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Application

This unit describes skills and knowledge required to conduct searches and analyse and evaluate all relevant conveyancing data for conveyancing transactions following confirmation of initial instructions from the client.

The unit applies to individuals who use research skills and systematic approaches to organise and collate complex documentation that meets compliance requirements.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the BSB Companion Volume Implementation Guide or the relevant regulator for specific guidance on requirements.

Unit Sector

Technical Skills – Conveyancing

Elements and Performance Criteria

ELEMENT 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify information needs

1.1 Identify sources of information relevant to the transaction

1.2 Examine documentation and titles and confirm facts relating to transaction

1.3 Define searches to be performed and confirm with client prior to commencement

1.4 Identify and arrange reports and searches with the required bodies according to practice policies and procedures

1.5 Identify applicable fees, taxes, and rebates, and advise client

2. Undertake document investigations

2.1 Perform searches using relevant methods according to practice policies and procedure

2.2 Establish and record legal positions according to practice policies and procedures

2.3 Collect required third-party reports from the relevant bodies

3. Evaluate issues arising with transaction

3.1 Identify, summarise and communicate legal issues and risks to client according to relevant legislation, regulations and practice policies and procedures

3.2 Define and clarify clients’ rights within transaction and communicate with client

3.3 Establish desired outcomes and devise strategies to achieve them in consultation with client

3.4 Assess transaction implications for professional indemnity insurance and take relevant action

4. Deal with third parties and other relevant stakeholders

4.1 Identify relevant third parties and other relevant stakeholders

4.2 Identify information to be obtained from or provided to third parties and other relevant stakeholders

4.3 Conduct consultation with third parties and relevant stakeholders and obtain authorisation

5. Present information relevant to transaction to client

5.1 Present documentation according to relevant legislation and regulations and practice policies and procedures

5.2 Record and document information necessary for transaction to proceed in a legally binding manner in client files

5.3 Advise client of the implications of all information received from or forwarded to relevant parties

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Description 

Reading

  • Gathers and collates documentation from a variety of sources
  • Analyses and reviews information for accuracy, completeness and relevance

Writing

  • Records and maintains information
  • Prepares correspondence and documents clearly and concisely using correct language, concepts and terminology appropriate for purpose and audience

Oral Communication

  • Participates effectively in verbal exchanges, using questioning and active listening

Numeracy

  • Analyses, records and consolidates financial information and numerical data
  • Performs mathematical calculations to determine fees and taxes

Self-management

  • Recognises and responds to relevant legislative requirements, explicit and implicit protocols, policies and procedures and meets expectations associated with own role

Planning and organising

  • Takes responsibility for developing and implementing organisational processes that comply with legislative requirements and achieve required outcomes

Problem solving

  • Systematically gathers and analyses all relevant information and evaluates options to solve problems or make decisions

Technology

  • Uses digital technologies to access, extract and share relevant information to achieve required outcomes

Unit Mapping Information

Supersedes and is equivalent to BSBCNV601 Identify and conduct searches.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • identify information needs, complete searches and evaluate and communicate collected information for a conveyancing transaction on at least three occasions.

In the course of the above, the candidate must:

  • communicate with a client and third parties involved in a transaction
  • request and record search information from authorities and third parties
  • assess transaction risk
  • present clear, concise and accurate information in relation to a transaction.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • business principles and law applicable to conveyancing transactions
  • current legislative, regulatory and industry practices, procedures and services
  • professional and industry terminology
  • consequences of searches relevant to the conveyancing transaction
  • procedures and practices for conducting searches
  • relevant practice policies and procedures
  • registration procedures and strategies
  • procedures for risk assessment and evaluation strategies
  • relevant types of document searches, for personal, business or real estate conveyancing.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • records showing the conduct of conveyancing search.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10