Real Estate Law

Introduction to the Course

Introduction to the Course

InstructorInstructor

Frederick L. (Rick) Hauck, Jr.Frederick L. (Rick) Hauck, Jr.

Mailbox location: Newport Hall, 2nd Floor Mailbox location: Newport Hall, 2nd Floor MailroomMailroom

Email Address:Email Address: rnhauck@comcast.net rnhauck@comcast.net Telephone number: 508-230-9591Telephone number: 508-230-9591 Website:Website: home.comcast.net/~rnhauck home.comcast.net/~rnhauck

Course DescriptionCourse Description

Provides students with a practical Provides students with a practical understanding of the various understanding of the various procedures and legal principles procedures and legal principles related to real estate.related to real estate.

Course TextCourse Text

Lynn T. Slossberg, Lynn T. Slossberg, The Essentials of Real The Essentials of Real Estate Law for ParalegalsEstate Law for Paralegals, , 2d Ed. 2d Ed. Thompson Delmar Thompson Delmar LearningLearning

GradingGrading

Examinations (2 Total @ 25 points each)Examinations (2 Total @ 25 points each) 50%50%

Assignments (2 Total @ 25 points each)Assignments (2 Total @ 25 points each) 50%50%

TotalTotal 100% 100%

Course OutlineCourse Outline

PART IPART I - FUNDAMENTAL CONCEPTS OF REAL ESTATE - FUNDAMENTAL CONCEPTS OF REAL ESTATE LAWLAW

11 Ethics and Real Property PracticeEthics and Real Property Practice

22 Basic Principles of Real Estate LawBasic Principles of Real Estate Law

33 Categories of Real PropertyCategories of Real Property

44 Ownership RestrictionsOwnership Restrictions

55 Legal Descriptions of PropertyLegal Descriptions of Property

66 Real Estate BrokersReal Estate Brokers

77 The Basic Real Estate Contract The Basic Real Estate Contract

88 Deeds Deeds

99 Liens on Property Liens on Property

1010 FinancingFinancing

1111 Title Examination and Title InsuranceTitle Examination and Title Insurance

Course Outline (cont’d)Course Outline (cont’d)

PART II - THE CLOSING: RESIDENTIAL, COMMERCIAL, PART II - THE CLOSING: RESIDENTIAL, COMMERCIAL, AND CONSTRUCTION LOAN CLOSINGSAND CONSTRUCTION LOAN CLOSINGS

12.12. Introduction to the ClosingIntroduction to the Closing

13.13. Residential Real Estate ClosingsResidential Real Estate Closings

14.14. Commercial Real Estate Closings Commercial Real Estate Closings

15.15. Construction Loan ClosingsConstruction Loan Closings

PART III - LANDLORD/TENANT LAWPART III - LANDLORD/TENANT LAW

16.16. Residential Leases Residential Leases

17.17. Commercial Leases Commercial Leases

18.18. Eviction ProceduresEviction Procedures

Course Outline (cont’d)Course Outline (cont’d)

PART IV - REAL ESTATE LITIGATIONPART IV - REAL ESTATE LITIGATION

19.19. Overview of Real Estate Litigation Overview of Real Estate Litigation

20.20. Mortgage ForeclosuresMortgage Foreclosures

Attorneys’ Roles in Real Estate TransactionsAttorneys’ Roles in Real Estate Transactions

Attorney for Seller:Attorney for Seller: confers with Clientconfers with Client reviews or prepares Purchase and Sale agreement and reviews or prepares Purchase and Sale agreement and

negotiates about its terms, including who should hold negotiates about its terms, including who should hold the depositthe deposit

prepares Deed and Power of Attorney if necessaryprepares Deed and Power of Attorney if necessary deals with title issues raised by the Lender’s Attorneydeals with title issues raised by the Lender’s Attorney attends closing and reviews papers which Seller is attends closing and reviews papers which Seller is

required to signrequired to sign escrows and special arrangements to correct title, escrows and special arrangements to correct title,

complete construction or assure possessioncomplete construction or assure possession transfer of security deposits and notices to Tenantstransfer of security deposits and notices to Tenants obtains account numbers/phone numbers for existing obtains account numbers/phone numbers for existing

lien holders lien holders arranges for 6d Certificates/Insurance arranges for 6d Certificates/Insurance

Certificates/Release of Right of First Refusal (if any) if Certificates/Release of Right of First Refusal (if any) if condocondo

Attorneys’ Roles in Real Estate Transactions Attorneys’ Roles in Real Estate Transactions (cont’d)(cont’d)

Attorney for Buyer:Attorney for Buyer: confers with Client, including issues such as how to take title, confers with Client, including issues such as how to take title,

information on type of property to be purchased (i.e., single information on type of property to be purchased (i.e., single family, multi-family), and financing issuesfamily, multi-family), and financing issues

reviews Offer to Purchasereviews Offer to Purchase reviews or prepares Purchase and Sale agreement and reviews or prepares Purchase and Sale agreement and

negotiates about its terms, including who should hold the negotiates about its terms, including who should hold the depositdeposit

advises concerning financing and tailoring of purchase and advises concerning financing and tailoring of purchase and sales terms to Lender's requirementssales terms to Lender's requirements

reviews the various inspectionsreviews the various inspections reviews title examination with Lender's Attorneyreviews title examination with Lender's Attorney attends closing and reviews papers which Buyer is required attends closing and reviews papers which Buyer is required

to signto sign sets up escrows and special arrangements to correct title, sets up escrows and special arrangements to correct title,

complete construction or assure possessioncomplete construction or assure possession arranges title insurance protection for Buyer against losses arranges title insurance protection for Buyer against losses

due to title defects, if desireddue to title defects, if desired transfer of security deposits and notices to Tenantstransfer of security deposits and notices to Tenants

Attorneys’ Roles in Real Estate Transactions Attorneys’ Roles in Real Estate Transactions (cont’d)(cont’d)

Attorney for Lender:Attorney for Lender: orders and reviews Examination of Titleorders and reviews Examination of Title orders and reviews Plot Planorders and reviews Plot Plan orders and reviews Municipal Lien Certificateorders and reviews Municipal Lien Certificate drafts Note, Mortgage, Deed and other necessary papersdrafts Note, Mortgage, Deed and other necessary papers prepares for the closing, signing all papers, obtaining prepares for the closing, signing all papers, obtaining

mortgage fund, acceptance of the Deed, recordingmortgage fund, acceptance of the Deed, recording estimates closing costsestimates closing costs pays-off existing mortgage and liens and obtains discharges pays-off existing mortgage and liens and obtains discharges

or releasesor releases sets up escrows and special arrangements to correct title, sets up escrows and special arrangements to correct title,

complete construction or assure possessioncomplete construction or assure possession prepares mandatory reports to IRSprepares mandatory reports to IRS records all documents properlyrecords all documents properly certifies title to the Buyer and Lender and prepares Title certifies title to the Buyer and Lender and prepares Title

Insurance policiesInsurance policies discusses and considers a Declaration of Homestead with the discusses and considers a Declaration of Homestead with the

BuyerBuyer

Course Learning OutcomesCourse Learning Outcomes

At the completion of this course, the student should be At the completion of this course, the student should be able to describe:able to describe:

The nature of ownership and real estate rights.The nature of ownership and real estate rights.

The various forms of ownership and titles.The various forms of ownership and titles.

The nature and effects of easements, liens, and of restriction on title.The nature and effects of easements, liens, and of restriction on title.

The features of Condominiums and Cooperatives.The features of Condominiums and Cooperatives.

The Deed and recording system for transferring title.The Deed and recording system for transferring title.

The Torrens Registration System.The Torrens Registration System.

The features of a Brokerage Contract and of a Purchase and Sale Contract.The features of a Brokerage Contract and of a Purchase and Sale Contract.

The major rules of Fair Housing and residential tenancy laws.The major rules of Fair Housing and residential tenancy laws.

The various types of Mortgages and other methods of financing.The various types of Mortgages and other methods of financing.

The closing process and the function of escrow accounts.The closing process and the function of escrow accounts.

Real Estate Paralegal

Firm seeks RE Paralegal for immediate 4 month contract assignment. Position assists with purchase/sale of high-end complex RE including preparing HUD statements, title policies, and purchase/sale agreements. Candidate must have exp. performing registry title searches and researching the Corporations Dept databases. An independent thinker/proactive self-starter is a plus. Word, PC Docs and accounting software preferred. Send resume and salary expectations in confidence, via e-mail or mail to: ____________________. No phone calls please.