Maricopa Community Colleges  LAS216   19976-20035 
Official Course Description: MCCCD Approval: 04/22/97
LAS216 19976-20035 LEC 3 Credit(s) 3 Period(s)
Real Estate Transactions
Investigation into various aspects of real estate sales, purchases, and encumbrances. Includes preparation of deed of trust and an agreement for sale of property. Prerequisites: LAS109, or TCA101, or permission of department chair or program director/coordinator.
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MCCCD Official Course Competencies:
 
LAS216   19976-20035 Real Estate Transactions
1. Identify the origins of real estate law. (I)
2. Describe what is included in the term "real property." (II)
3. Use legal descriptions of real property. (III)
4. Describe property interests. (IV)
5. Identify various types of deeds and describe the legal requirements of a valid deed. (V)
6. Compare and contrast actual notice with constructive notice. (VI)
7. Describe the legal requirements of a contract for the sale of real estate. (VII)
8. Explain the various ways in which property can be held and describe trhe rights of co-owners. (VIII)
9. Describe the various forms of real estate encumbrances. (IX)
10. Describe security interests in real property. (X)
11. Explain private controls on real estate. (XI)
12. Explain public controls on real estate. (XII)
13. Analyze the legal implications of the landlord-tenant relationship. (XIII)
14. Describe the tax consequences of owning real property. (XIV)
15. Describe the duties, powers, and liabilities of a real estate broker. (XV)
16. Identify the legal issues presented for attorneys and paralegals in real estate law. (VII, VIII, XIII, XV)
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MCCCD Official Course Outline:
 
LAS216   19976-20035 Real Estate Transactions
    I. Origins of Real Estate Law
        A. Common law
        B. Federal statutes
        C. State statutes
        D. Recent court decisions
      II. What is included in "Real Property"
          A. Minerals, oil, gas, air, trees, and crops
          B. Fixtures
        III. Legal Descriptions of Real Property
            A. Metes and bounds
            B. Government survey
              1. Meridians and baselines
              2. Townships and sections
            C. Plats
          IV. Property Intersts
              A. Bundle of rights concepts
              B. Fee simple
              C. Reversions and remainders
              D. Estates for years
              E. Contingent and vested estates
            V. Deeds
                A. Quitclaim deeds
                B. Warranty deeds
                C. Special warranty deeds
                D. Requirements for a valid deed
                E. Acknowledgment of deeds
                F. Abstracts
                G. Certificates of title
                H. Torrens system
                I. Title insurance
              VI. Notice
                  A. Constructive notice
                  B. Actual notice
                VII. Contracts For the Sale of Real Estate
                    A. Written contract required
                    B. Marketability of title
                    C. Contingencies
                    D. Possession and rents
                    E. Risk of loss
                    F. Assignment of rights under the contract
                    G. Installment contracts
                    H. Remedies for breach
                  VIII. Real Estate Ownership
                      A. Co-ownership
                        1. Joint tenancy
                        2. Tenancy by the entireties
                        3. Tenants in common
                        4. Community property
                      B. Partition
                      C. Rights and obligations of co-owners
                      D. Rights of unmarried cohabitants
                    IX. Real Estate Encumbrances
                        A. Nonconsentual liens
                        B. Consensual liens
                        C. Homestead
                      X. Real Estate as Security
                          A. Mortgages
                          B. Deeds of trust
                          C. Agreements for sale
                        XI. Private Real Estate Controls
                            A. Zoning
                            B. Building codes
                            C. Subdivision laws
                            D. Condemnation
                            E. Nuisance
                          XII. Public Real Estate Controls
                              A. Zoning
                              B. Building codes
                              C. Subdivision laws
                              D. Condemnation
                              E. Nuisance
                            XIII. Landlord-Tenant
                                A. Common Law obligations
                                B. Statutory obligations
                                C. Forcible entry and detainer
                                D. Destaint for rent
                                E. Lease requirements
                                F. Liability of Landlord and tenant
                              XIV. Real Estate Taxes, Assessments, and the Internal Revenue Service (IRS)
                                  A. Taxing authority
                                  B. Assessment of taxes
                                  C. Special assignments
                                  D. Federal income tax implications
                                XV. The Real Estate Broker
                                    A. Duties, powers , and liabilities
                                    B. Agency
                                    C. Commissions
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