Chabot College Fall 2007 Course Outline for Real Estate 81A LEGAL ASPECTS OF REAL ESTATE Catalog Description: 81A – Legal Aspects of Real Estate 3 units California law as applied to real estate problems; origin and sources of California real estate law; contracts in general; real estate contracts; law of agency and regulation of agents; classification of property; easements; acquisition and transfer of interests of property; methods and incidents of ownership; land description; recordation. Prerequisite: Real Estate 80. 3 hours. Prerequisite Skills: Before entering this course, the student should be able to: 1. identify each of the steps and stages in a typical residential home sale; 2. list the services that a real estate agent provides to home buyers; 3. distinguish between real property and personal property; 4. list the three major methods used to describe land in legal documents. 5. describe the methods of holding title; 6. define the term “easement”; 7. list the different types of categories into which zoning ordinances divide a community; 8. define the term “eminent domain”; 9. explain the statute of frauds; 10. define the term “listing agreement”; 11. describe the agency relationship; 12. recall the four essential elements of value; 13. recognize the purpose and importance of an MAI appraisal; 14. differentiate between a “Seller’s” market and a “Buyer’s” market; 15. compare the advantages of renting to the advantages of buying; 16. solve capitalization problems using the capitalization approach to value. Expected Outcomes for Students: Upon completion of this course, the student should be able to: 1. explain the basis for U.S. law and the difference between common law and civil law; 2. navigate through the agency disclosure process and explain the duties associated with various choices; 3. compare and contrast the different duties and liabilities of agents and principals; 4. distinguish between what is “ethical” and what is “legal” in regard to real estate activities; 5. determine when a real estate license is required; 6. explain the various types of contracts and essential elements for a valid contract; 7. discuss the difference between judicial and non-judicial remedies; 8. differentiate between the different forms of ownership; 9. explain the difference between voluntary and involuntary transfer of property; 10. illustrate how property is transferred through adverse possession and eminent domain; 11. explain a mechanics lien as compared to a tax lien; 12. identify different types of zoning categories; 13. explain state, local and federal laws and how they impact real estate ownership. Chabot College Course Outline for REST 81A, Page 2 Fall 2007 Course Content: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Definition of words and phrases used in legal aspects Historical aspects of land titles in California Sources of real estate law Nature and classes of property Fixtures defined and the applicable rules Definition, classes, and characteristics of easements Nature and classification of estates or interests Acquisition and transfer of property Methods and incidents of ownership Land: descriptions, surveys, subdivision Recording and constructive notices Methods of Presentation: 1. Lecture 2. Discussion 3. Films Assignments and Methods of Evaluting Student Progress: 1. Typical Assignments a. Select a current Real Estate legal issue currently taking place in our “Bay Area” market place. Analyze the legal aspect of this issue based on topics contained in the Legal Aspects of California Real Estate text. Prepare an argument on one side of the case and submit to class with preparation to argue the position to your fellow classmates. b. Design a defensive strategy from a legal point of view relating to the practice of real estate. c. Explain the concept of eminent domain and condemnation and supply an example of a real world case study. This case can be from any locale in the United States. 2. Methods of Evaluating Student Progress a. Examinations b. Assignments c. Final Examination Textbook(s) (Typical): California Real Estate Law, Pivar, Bruss, 6th edition, Dearborn Publishing, 2005 Special Student Materials: None JM/Sept2006 Revised 10/12/06, 11/3/06 RE81A