Unit of competency Outline

Date retreived
24/07/2026 1:04 AM AWST

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Apply legal principles in property law

Apply legal principles in property law

Unit of competency
National Code
FNSTPB505
State Code
AUT43
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
091103 - Legal Studies
Original Release Date
16/09/2015
Nominal Hours
60
Description
This unit describes the skills and knowledge required to research, analyse and apply legal principles to provide advice on property law matters to clients.It applies to individuals whose job role involves the application of knowledge of property law in the workplace.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. This unit is designed to meet educational requirements of the Tax Practitioner Board (TPB). Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Research legal aspects of property law
  • 1.1 Identify client's circumstances that require advice on property law matters
  • 1.2 Research relevant property law and related legislation, regulation and practice
  • 1.3 Identify different types of appropriate property transactions and clearly outline their legal context, establishment procedures and purpose
  • 1.4 Identify relevant legal principles applying to property matters that are relevant to client circumstances
2. Analyse legal issues and risks associated with operation of a business
  • 2.1 Identify areas of risk in application of law in property matters
  • 2.2 Analyse how legal issues impact on different types of legal entities and business structures
  • 2.3 Evaluate relevance to client circumstances and implication of risks for structure, operation and performance of different types of legal entities and business structures
3. Apply knowledge of property laws to client circumstances
  • 3.1 Collect and collate client's available information for analysis
  • 3.2 Interpret, analyse and process available information to obtain required knowledge applicable to client circumstances
  • 3.3 Seek advice and guidance of specialist if required, to interpret, analyse and synthesise client and legal information
  • 3.4 Provide advice to client based on client’s circumstances and relevant law
4. Maintain legal knowledge
  • 4.1 Review client's circumstances and apply any changes in relevant aspects of property law
  • 4.2 Review relevant legal sources regularly and apply any changes in daily work
  • 4.3 Access and use systems for keeping up with changes and maintain up-to-date knowledge about relevant legal aspects of property law
No information
No information
Replaces
State Code National Code Title Type
WC251 FNSTPB502A Apply legal principles in commercial and property law Unit of competency