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REX7117

Course
REX7117
Course Title
Real Estate Law

Description

Explore the legal issues involved in owning real estate.   Whether you are a broker or an investor, you will receive hands-on-applications and examples that will show you how to use this knowledge in a day-to-day real estate practice or in personal real estate investing. Offered in partnership with ed2go.

Objectives

  • Discover the basic features of real estate law, especially the differences between real and personal property.
  • Explore the various ways you can own property.
  • Learn what makes property descriptions accurate and valid, and understand how to read them to protect yourself in real estate transactions.
  • Understand who and what are involved in selling and buying real estate, as well as get an overview of the foreclosure process.
  • Learn which fixtures you can take and which you must leave when you sell property, find out what easements are and how they may affect you, discover what a license allows, and understand who can make a lien and why.
  • Explore some of the ins and outs of the two most common real estate contracts—the listing agreement and the offer to purchase and contract of sale—and learn how to make an offer and a counteroffer as well as how to accept an offer.
  • Explore the relationship between landlords and tenants, learn about the most common provisions in leases, and discover the actions landlords and tenants can take when things go wrong between them.
  • Learn about the history, basic elements, and different types of deeds.
  • Understand how to qualify for a loan, what types of mortgages there are, and what the law requires a mortgage to have.
  • Find out who attends the closing, what documents the closing professional needs, and why closing costs are often so high.
  • Examine the restrictions both the government and private individuals can impose on how you use your property.
  • Explore the various professions closely tied to real estate law.

Content

Wednesday - Lesson 01

 If you've ever considered becoming a real estate broker, buying or selling a home, investing in real estate, or getting into real estate law, this is the course for you! In Lesson 1, you'll learn about the key differences between real and personal property, as well as some of the unique characteristics of land. You'll also get an overview of all the varied classifications of real property—you may be surprised by all the possibilities!

 Friday - Lesson 02

 If you own property, does that mean you can do anything you like with it? In today's lesson, you'll learn about what kinds of titles carry which kinds of rights. There's one type of title you'll want above all others, and you need to know about it long before you ever think about buying any real estate. We'll also look at what happens when two or more people own property together. This can get complicated, so we'll untangle who has the right to do what.

 Wednesday - Lesson 03

 Most people don't know anything about property boundaries . . . until they're unpleasantly surprised by someone knocking down their back fence. In this lesson, you'll discover how to read and understand the different types of property descriptions, how to avoid disputes about them, and how to make this inside knowledge work for you.

 Friday - Lesson 04

 In Lesson 4, you'll learn about the basic contract requirements involved in selling property. Don't worry, though—it's not just dry theory! I'll also introduce you to the typical people involved in a sale and walk you through the usual procedures. Then we'll dive into a topic many people regard as a potential gold mine: foreclosures. We'll straighten out some common misconceptions and see just what's involved in bidding on foreclosed property.

Wednesday - Lesson 05

 When you sell property, what items can you take with you and what must remain? This issue involves the law of fixtures, and most buyers and sellers don't know anything about it. But you will! You'll learn how and why a seller can remove a refrigerator but not the antique doorknobs. We'll also look at the important issue of easements, which give a non-owner the right to use part of someone else's land. Both of these topics are absolutely essential for anyone considering buying or selling real estate.

 Friday - Lesson 06

 In this lesson, we'll track the negotiations that go on when you buy and sell real estate. You'll learn what a contract actually does, and you'll explore two of the most common real estate contracts: the "listing agreement" and the "offer to purchase and contract of sale." Then we'll follow a sale from the posting of the For Sale sign to the offers, counteroffers, rejections, and finally to the acceptance.

Wednesday - Lesson 07

 If you've ever been a tenant or plan to become a landlord, then you should pay particular attention to this lesson. Here we'll examine landlord-tenant law, exploring what rights and obligations each has to the other. You'll see when and how a landlord can evict a tenant and how tenants can protect themselves. And we'll walk step-by-step through the terms of a typical lease.

 Friday - Lesson 08

 Anyone who plans on owning real estate must know about deeds. A deed simply transfers ownership rights, but if you've ever tried to read one, you know just how confusing they can be. In this lesson, we'll decipher all the parts of the deed, clarifying what each clause means and how each part impacts your ownership rights. We'll also discuss ways to make sure the owner transfers all of his or her legal rights in the property to you.

Wednesday - Lesson 09

 Mortgages can be just as confusing as deeds! So in this lesson, we'll demystify them by discussing what a mortgage is, what "prequalification" and "preapproval" are, and what lenders look for before entering into a mortgage with a borrower (especially credit issues). You'll also see what types of mortgages you can choose from and understand the good and bad points of each.

 Friday - Lesson 10

 Real estate closings often seem overwhelming. So many papers are flying around, and if you're the buyer, you're signing things without really knowing what they are. And then there's the whole issue of closing costs, which can add several thousand dollars to the sale. In this lesson, you'll meet the people involved in a typical closing, see what documents the closing professional needs, learn about the ones a buyer must sign, and what the costs are and where they come from. By the time you finish this lesson, you'll feel much more comfortable with this process!

 Wednesday - Lesson 11

 Who creates zoning rules and how? What can a zoning ordinance regulate? How are they enforced? If you need to get around one, can you? These are just some of the questions you'll find answers to in this lesson. We'll also take a look at an area of law most people don't know about—but it can have a huge impact on all types of property owners. That's restrictive covenants. Last, you'll learn what kind of action you can take if your neighbor becomes a big nuisance.

 Friday - Lesson 12

 In our final lesson, we'll survey the various types of professions tied to real estate. If you're interested in becoming a real estate agent, you'll learn about the process here. We'll also discuss the advantages and disadvantages of real estate investing to help you decide if this is something you'd like to do. And we'll finish up by profiling other careers, such as surveyors, real estate paralegals, appraisers, inspectors, and more.

Method of Instruction

Online

Evaluation

Class participation