REAL ESTATE
LAW AND THE PROFESSIONAL
~CERTIFICATE
PROGRAM~
NYS, DEPT. OF STATE REAL ESTATE CONTINUING EDUCATION APPROVAL
PENDING
NYS, DEPT. OF STATE FAIR HOUSING CE APPROVAL PENDING
BILL C. MERRELL, PH.D.- APPRAISAL EDUCATION NETWORK
SCHOOL AT THE MERRELL INSTITUTE
1461-16 LAKELAND AVE., BOHEMIA, NY 11716 631-563-7720
OUTLINE:
1.
Introduction to Real Estate Law and the Profession
-
Law
and the Real Estate Profession
-
The
nature and Functions of Law
-
Historical Background
-
Legal Categories and Concepts (substantive and procedural law, criminal
and civil law, basic civil law concepts)
-
Sources of Law (constitutions, statutory law, case law, regulations)
-
The
Judicial System (trial courts, appellate courts, state courts, and
federal courts)
-
Civil Lawsuit (the dispute, starting the lawsuit, pretrial discovery,
settlement negotiations, judge or jury, the trial, appeal, collecting a
judgment)
- Nature of Real
Property
-
Land
Description
-
Attachments (natural attachments and fixtures)
-
Appurtenances (air rights, water rights, mineral rights, etc.)
- Interests in
Real Property
-
Possessory Interests (freehold and leasehold estates)
-
Non-possessory
Estates (easements and liens)
- Co-Ownership
of Real Property
-
Forms of Co-Ownership (tenancy in common, joint tenancy, trusts, etc.)
-
Ownership by Associations (corporations, general partnerships, limited
partnerships, real estate investment trusts, etc.)
-
Common Interest Developments (condominiums, stock cooperatives,
community apartment projects, planned unit developments, timeshares)
- Introduction
to Agency Law
-
Agency (agents authority and types of agents)
-
How
and Agency is Created
-
Real
Estate Agency Relationships
-
Terminating and Agency
-
Dept. of State requirements for Brokers/Salespersons
- Agency Duties
and Liabilities
-
Agency Disclosure
-
Agents Duties to the Principal
-
Agents Duties to Third Parties
-
Penalties for Breach of Agents Duty (action by associations, civil
lawsuits, criminal prosecution, violations)
-
Brokers Agency and Statutory Disclosures
- Contract Law
-
Contract Classifications
-
Contract Formation (capacity, mutual consent, consideration, lawful
purpose, Statute of Frauds, promissory estoppel, modification)
-
Performance and Breach of Contract
-
Remedies for Breach of Contract
- Real Estate
Contracts
-
Broker/Salesperson Agreements
-
Listing Agreements
-
Deposit Receipt and Counter-offers
-
Megans Law Disclosure
-
Options (consideration, relation back, assignment, termination, right of
preemption
-
Natural Hazard Disclosure Statement
- Alternatives
to Litigation
-
Alternate Dispute Resolution-ADR (non-adjudicative & adjudicative)
-
Negotiation
-
Mediation
-
Arbitration
-
Resolving Disputes Concerning a Real Estate License
-
A
Mock Alternative Dispute Resolution Hearing- non binding
- Title and
Alienation
-
Voluntary Alienation (deeds and wills)
-
Involuntary Alienation
(succession, escheat, court decisions, adverse possession, condemnation,
dedication, accession)
-
Recording (Recorders office, notice)
-
Title Insurance (obtaining, types, duty to defend)
- Escrow and
Closing
-
Preparing for Closing
-
Escrow (purpose, opening, requirements, and agent)
-
Termination of Escrow (mutual agreement, expiration, default)
-
When
Title Passes
-
Real
Estate Settlement Procedures ActRESPA
-
Settlement Statements (allocating expenses, transaction settlement
guide, buyers costs and credits, sellers costs and credits, pro-rations
and closing)
- Real Estate
Financing
-
Promissory Notes
-
Deeds of Trust
-
Optional Loan Terms (prepayment, default, and transfer provisions)
-
Foreclosure (non-judicial foreclosure of a trust deed, judicial
foreclosure of a mortgage)
-
Real
Property Sales contracts
-
Lending Disclosure Laws (Truth in Lending Act, Seller Financing
Disclosure Law, Mortgage Loan Broker Law)
- Land Use
controls
-
Public Restrictions (zoning, building codes, subdivision regulations,
environmental regulations)
-
Private Restrictions (restrictive covenants running with land, enforcing
restrictions, terminating restrictive covenants)
- Fair Housing
in Real Estate
-
Historical Background
-
Federal and State Regulations
-
New
York State Regulations
-
Department of State Regulations for Licensees (Salespersons/Brokers)
-
Liability for discrimination
-
Landlord/Tenant Law
-
Leases and Termination of Leases
-
Rights and Duties of Landlord
-
Property Management
TOTAL
HOURS
22.5 HOURS
FAIR HOUSING
CREDIT
.3 HOURS
APPROVAL PENDING- WANT TO SIGN UP AND LEARN MORE, CALL
631-563-7720
WWW.MERRELLINSTITUTE.COM