Description:

Upon successful completion of this course, the student should be able to describe common types of real estate transactions and conveyances. The preparation of legal instruments, namely deeds, contracts, leases and mortgages will be studied. 3 hrs. lecture/wk.

Supplies: Refer to the instructor's course syllabus for details about any supplies that may be required.

Textbook(s): For information see - http://bookstore.jccc.net

Course Fees: NONE

Course Objectives:

Upon successful completion of this course the student should be able to:

1. Explain basic real estate concepts and transactions.
2. Review the requirements and procedures involved in a real estate sales transaction.
3. Identify real estate ownership rights and liabilities, including those related to forms of ownership and financing.
4. Explain ways that real estate is used and factors affecting ownership.

Content Outline & Competencies:

I. Basic Real Estate Concepts and Transactions
   A. Identify sources of real estate law.
   B. Differentiate between real and personal property.
   C. Define the term fixture.
   D. Explain how fixtures are a part of real estate.
   E. Identify different types of easements.
   F. Prepare a legal description for real estate.
   G. Identify various forms of title to real estate.
   H. Explain forms of real estate ownership, including joint tenancy,
tenancy in common, and tenancy by the entireties.
   I. Identify the various forms of real estate deeds.
   J. Describe the elements necessary for a valid deed.
   K. Review recording requirements.
   
II. Requirements and Procedures Involved in a Real Estate Transaction
   A. Identify the licensing and legal aspects pertaining to real estate
brokers and salespersons.
   B. Discuss the basic elements of a real estate contract.
   C. Explain installment contracts and their use in real estate
transactions.
   D. Differentiate between fraud and misrepresentation.
   E. Identify the various requirements for a real estate closing.
   F. Prepare a real estate closing statement.
   G. Explain the use of title abstracts and insurance in real estate
transactions.
   H. Review available types of real estate casualty insurance.

III. Real Estate Ownership Rights and Liabilities
   A. Explain the rights of spouses and other owners of real estate.
   B. Explain the use of real estate mortgages.
   C. Identify different types of real estate mortgages.
   D. Explain mortgage and mortgage note provisions.
   E. Trace the foreclosure process for defaulted mortgages.

IV. Use of Real Estate and Factors Affecting Ownership
   A. Explain the use of public and private restrictions.
   B. Identify various forms of zoning and their use in real estate
development and control.
   C. Explain the requirements for land development.
   D. Discuss the use of homes association restrictions.
   E. Differentiate between condominiums, cooperatives, and townhomes.
   F. Review the provisions of a construction contract.
   G. Explain statutory provisions and legal rights pertaining to
construction and improvement liens and warranties.
   H. Discuss basic concepts of the landlord/tenant relationship.
   I. Identify areas of discriminatory practices in real estate.
   J. Explain how real estate is taxed.

Methods of Evaluation of Competencies:

Evaluation of student mastery of course competencies will be accomplished using the following methods:

A minimum of 4 examinations                75% of grade
A minimum of 5 projects and assignments    25% of grade
                                          100%
   Grading Criteria:
   90-100% = A
   80- 89% = B
   70- 79% = C
   60- 69% = D
   59-  0% = F

Caveats: NONE

Disabilities:

If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.

JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.