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Real Estate and Property Law for Paralegals 5th ed. [Minkštas viršelis]

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  • Formatas: Paperback / softback, 528 pages, aukštis x plotis x storis: 254x203x27 mm, weight: 1036 g
  • Serija: Aspen Paralegal
  • Išleidimo metai: 12-Jul-2018
  • Leidėjas: Wolters Kluwer Law & Business
  • ISBN-10: 1454896213
  • ISBN-13: 9781454896210
Kitos knygos pagal šią temą:
Real Estate and Property Law for Paralegals 5th ed.Didesnis paveikslėlis
  • Formatas: Paperback / softback, 528 pages, aukštis x plotis x storis: 254x203x27 mm, weight: 1036 g
  • Serija: Aspen Paralegal
  • Išleidimo metai: 12-Jul-2018
  • Leidėjas: Wolters Kluwer Law & Business
  • ISBN-10: 1454896213
  • ISBN-13: 9781454896210
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9781454896210.html
Raktažodžiai:

Complete introduction to real estate and property law, designed with the paralegal student in mind. This straightforward, student-friendly text lays out the basic foundations of the law, accompanied by real world examples. The author provides a solid foundation the basics of real estate law, including the practicalities of daily legal work. In a balanced approach, Bevans covers all the key topics paralegals need to know in an easy-to-read and engaging style that utilizes numerous examples and illustrations but never overwhelms the student.

Well-structured pedagogy reinforces this readable text. Each chapter features a variety of effective learning aids, including forms, edited cases, and a wealth of exercises for mastering the material and building practical paralegal skills. The revised Fifth Edition is thoroughly updated with changes in the law.

Key Features:

  • Updated procedures and documentation for real estate closings
  • Current forms throughout the text
  • Recent cases that signal changes in the law
  • Fresh coverage of technology as used in the office, such as cloud computing, Adobe Acrobat and PDFs, Speech Recognition Software, and Electronic Billing
Preface xxxv
Acknowledgments xli
Chapter 1 An Introduction To Real Estate
Focus of This
Chapter: This chapter introduces the basic concepts of real and personal property, introduces the rich and complex world of real property, and explains the various categories of real property.
I Introduction
1(1)
II Real Property Versus Personal Property
1(5)
A What Makes Real Property So Unique?
3(1)
B Physical Characteristics of Land
3(1)
C Economic Characteristics of Land
4(3)
Tech Topic: Cloud-Based Computing
6(1)
III The Real Estate Market
6(1)
IV Classifying Property By Use
7(5)
A Unimproved Land
8(1)
B Residential Property
8(2)
1 Single- and Multi-Family Homes
8(1)
2 Apartments
8(1)
3 Condominiums and Townhouses
9(1)
a Condominiums
9(1)
b Townhouses
9(1)
4 Cooperatives
9(1)
5 Mobile Homes
10(1)
6 Manufactured Housing and "Kit" Homes
10(1)
C Commercial Property
10(1)
1 Retail/Wholesale
11(1)
2 Shopping Centers and Malls
11(1)
D Industrial Property
11(1)
1 Industrial Parks
11(1)
2 Light Industry/Heavy Industry
11(1)
E Farm and Rural Property
12(1)
F Recreational Property
12(1)
G Government-Owned Land
12(1)
Annotated Document: Real Estate Sales Listing
12(1)
Case Excerpt: Jones v. State Prop. Tax Appeal Bd.
13(6)
Summary
19(1)
Skills You Need in the Real World
19(2)
Ethics: An Introduction
21(1)
Cases Relevant to the
Chapter
21(1)
Websites
21(1)
Tech Tool: Zillow
22(1)
Key Terms
22(1)
Review Questions
22(1)
Discussion Questions
23(1)
Applying What You Have Learned
23(2)
Chapter 2 Estates In Real Property
Focus of This
Chapter: This chapter provides an in-depth explanation of the rights, duties, and responsibilities that derive from estates, as well as the implications of various types of estates for the rights and abilities of the owners.
I Introduction
25(1)
II Real Property Estates
25(1)
III Fee Simple Estate
26(4)
A Rights of Fee Simple Absolute Owners
28(1)
B Conditional Fee Simple Estates
28(2)
1 Fee Simple Determinable
29(1)
2 Fee Simple on a Condition Subsequent
29(2)
Tech Topic: Online Access to Real Estate Records
30(1)
IV Life Estates
30(3)
A Historical Basis of Life Estates
31(1)
1 Dower and Curtesy
31(1)
B Remaindermen
32(1)
C Waste
32(1)
D Court Doctrines That Affect Life Estates
32(1)
E Life Estate Pur Autre Vie
33(1)
V Concurrent Ownership In Real Estate
33(4)
A Tenants in Common
33(1)
B Joint Tenancy
34(2)
1 Right of Survivorship
35(1)
C Tenancy by Entirety
36(1)
D Tenancy in Partnership
37(1)
E The Right to Partition
37(1)
Annotated Document: Creating A Life Estate
37(1)
Case Excerpt: Bryant V. Bryant
38(5)
Summary
43(1)
Skills You Need in the Real World
43(1)
Ethics: Drafting Deeds
44(1)
Cases Relevant to the
Chapter
44(1)
Websites
44(1)
Key Terms
44(1)
Review Questions
45(1)
Discussion Questions
45(1)
Applying What You Have Learned
46(1)
Chapter 3 Property Descriptions And Boundaries
Focus of This
Chapter: This chapter explores the many different methods used across the nation to describe property. Because metes and bounds descriptions are an essential part of property descriptions in nearly half the country, we explore this topic in depth and go through the process of drawing out a description based on the wording of the description. The chapter also explores other property description techniques and provides a basic description of surveying.
I Introduction
47(1)
II The History Of Property Boundaries
48(1)
III Property Descriptions In Deeds
48(5)
A The Elements of a Valid Property Description
49(1)
B Legal Requirements for Property Descriptions in Deeds
49(1)
C Referring to Other Documents to Prove Property Boundaries
50(1)
D Litigating Property Boundaries
50(1)
E Ambiguous Property Descriptions
51(2)
1 Patent Ambiguities
51(1)
a Parol Evidence and Property Descriptions
52(1)
2 Latently Ambiguous Property Descriptions
52(1)
IV Metes And Bounds Descriptions
53(4)
A Drafting Metes and Bounds Descriptions
55(2)
Tech Topic: Real Estate Marketing Technology
56(1)
B Using Technology to Help with Metes and Bounds Drawings
57(1)
V Other Methods To Describe Property: Government Survey System
57(2)
A Tract Indexing
57(1)
B Plats
57(1)
C Torrens Registration
58(1)
VI Water Rights
59(2)
A The Right to Use Water
59(1)
1 Court Doctrines That Affect Water Rights
59(1)
B Natural Forces That Affect Property Boundaries
59(1)
1 Accretion
60(1)
2 Erosion
60(1)
3 Avulsion
60(1)
4 Reliction
60(1)
C Water and Property Boundaries
60(11)
1 Navigable Waters
60(1)
2 Non-Navigable Waters
61(1)
Annotated Document: Metes And Bounds Description
61(1)
Case Excerpt: In re Foreclosure of Real Prop. Under Deed of Trust from Vicque
62(4)
Summary
66(1)
Skills You Need in the Real World
67(1)
Ethics: Confidentiality
67(1)
Cases Relevant to the
Chapter
68(1)
Websites
68(1)
Tech Tool: Software That Draws Metes and Bounds Descriptions for You
68(1)
Key Terms
69(1)
Review Questions
69(1)
Discussion Questions
69(1)
Applying What You Have Learned
70(1)
Endnotes
70(1)
Chapter 4 Transferring Title To Real Estate
Focus of this
Chapter: This chapter addresses the numerous ways that title to real estate can be transferred, through both voluntary and involuntary means. The chapter emphasizes the practical concerns for paralegals in many of these transfers.
I Introduction
71(1)
II Voluntary Transfers Of Title
71(11)
A Sale
72(5)
1 The Basic Requirements of Sale of Real Property
74(3)
a Mutual Assent
74(1)
b Consideration
74(1)
c Capacity
74(1)
i Infants
75(1)
ii Intoxicated Persons
75(1)
iii Mentally Incompetent Persons
75(1)
d Property Description
75(1)
Tech Topic: Adobe Acrobat and PDF File
76(1)
B Will (Probate)
77(4)
1 The Minimum Requirements of a Will
77(3)
a The Will Must Be in Writing
77(1)
b The Will Must Be Signed by the Testator
78(1)
i Nuncupative Wills
78(1)
c The Will Must Be Witnessed
78(1)
i Holographic Wills
78(1)
d The Will Must Clearly Express the Testator's State of Mind
79(1)
e The Will Must Clearly Devise Property to a Specific Beneficiary
79(1)
2 Wills Versus Sales
80(1)
3 Different Methods Used to Transfer Title Through Wills
80(2)
a Intestate Succession
80(1)
b Testate Succession
81(1)
C Gift
81(1)
D Dedication
81(1)
E Homesteading
81(1)
III Involuntary Transfers Of Title
82(10)
A Foreclosure
82(5)
1 Judicial Foreclosure
83(1)
2 Power of Sale Foreclosure
83(4)
a The Right to Foreclose
83(1)
b Default
83(1)
c Notice to the Borrower
84(1)
d Steps in the Foreclosure
84(1)
e The Foreclosure Auction
85(1)
f The Right of Redemption
85(1)
g Purchasing Property at a Foreclosure Sale
86(1)
h Terminating the Rights of Other Creditors
86(1)
i Mortgages and Deeds of Trust
87(1)
B Eminent Domain (Condemnation)
87(1)
1 The Process of Eminent Domain: Condemnation
88(1)
a Inverse Condemnation
88(1)
C Partition
88(1)
D Escheat
88(1)
E Civil Judgment
89(1)
F Adverse Possession
89(3)
1 Why Does the Doctrine of Adverse Possession Exist?
89(1)
2 The Elements of Adverse Possession
90(1)
a Open, Continuous, Notorious, and Hostile Possession
90(1)
b Color of Title
91(1)
3 Specified Time Periods for Adverse Possession
91(1)
G Tax Auctions
92(1)
Case Excerpt: Peters v. CertusBank Nat'l Ass'n
92(2)
Summary
94(1)
Skills You Need in the Real World
95(1)
Ethics: Fraudulent Transfers
96(1)
Cases Relevant to the
Chapter
96(1)
Websites
96(1)
Tech Tool: MLS Foreclosure Search
97(1)
Annotated Document: Notice Of Foreclosure
97(1)
Key Terms
98(1)
Review Questions
98(1)
Discussion Questions
99(1)
Applying What You Have Learned
99(1)
Endnotes
99(2)
Chapter 5 Rights Associated With Real Estate
Focus of This
Chapter: The chapter begins with a description of fixtures, explores the relationship of fixtures to real estate, and then describes how the law of trade fixtures differs significantly from the general rule of fixtures. From there, the chapter explores the role of liens, easements, and other rights associated with real property.
I Introduction
101(1)
II Fixtures
101(4)
A Determining When Personal Property Becomes a Fixture
103(1)
1 Intent Test
103(1)
2 Manner of Attachment Test
103(1)
3 Use Test
104(1)
4 Damage Test
104(1)
B Trade Fixtures
104(1)
III Easements
105(6)
A Appurtenant Easements
106(1)
B In Gross Easements
106(1)
Tech Topic: Cellphone Tower Easements
107(1)
C Easements Run with the Land
107(1)
D Creating Easements
107(3)
1 Agreement
108(1)
2 Deed Reservation
108(1)
3 Implication
108(1)
4 Necessity
108(1)
5 Prescription
109(1)
6 Eminent Domain
109(1)
E Terminating Easements
110(5)
1 The Easement Is No Longer Needed
110(1)
2 The Properties Have Merged
110(1)
3 The Parties Enter into an Agreement
110(1)
4 The Easement Is Abandoned
111(1)
IV Licenses
111(1)
V Profit A Prendre
111(1)
VI Liens
112(1)
VII Assessments
113(2)
VIII Air Rights
115(1)
IX Water Rights
115(1)
A The Right to Draw Water
115(1)
B Subterranean Water
116(1)
C Terminology for Water Rights
116(1)
X Mineral Rights
116(1)
Case Excerpt: Scott v. Lee & Donna Metcalf Charitable Trust
117(3)
Summary
120(1)
Skills You Need in the Real World
121(1)
Ethics: Unauthorized Practice of Law
121(1)
Cases Relevant to the
Chapter
122(1)
Websites
122(1)
Tech Tool: Tax Lien Search
123(1)
Key Terms
123(1)
Review Questions
123(1)
Annotated Document: Lien
124(1)
Discussion Questions
125(1)
Applying What You Have Learned
125(1)
Endnotes
125(2)
Chapter 6 Real Estate Contracts
Focus of This
Chapter: The law of contracts and real estate has a long and rich history. The chapter first introduces the general law of contracts and then explains how contract law principles apply to specific real estate transactions.
I Introduction
127(1)
II What Is A Contract?
128(6)
A Offer
128(2)
1 Offers Do Not Require Specific Language
129(1)
Tech Topic: Communicating Offers Via E-mail, Text, or Twitter
129(1)
2 The Reasonable Person Standard and Offers
130(1)
B Acceptance
130(3)
1 The Power of Acceptance
130(2)
2 Communicating the Acceptance to the Offeror
132(1)
3 The Mailbox Rule
132(1)
4 Counteroffers
132(1)
C Mutual Assent
133(1)
D Consideration
133(1)
E Legality
134(1)
F Capacity
134(1)
III The Statute Of Frauds
134(2)
IV Formation Issues In Contract Law
136(1)
A Guidelines That Courts Use to Interpret Contracts
136(1)
B Mistake
136(1)
1 Effect of a Ruling of Mistake
136(1)
C Fraud
137(1)
V Real Estate Contracts
137(5)
A Listing Agreements
137(1)
1 Open Listing
137(1)
2 Exclusive Listing
138(1)
3 Multiple Listing
138(1)
B Offers of Purchase and Contract
138(4)
1 Property Description
140(1)
2 Purchase of Personal Property
140(1)
3 Purchase Price Details
140(1)
4 Conditions
141(1)
5 Evidence of Title
141(1)
6 Property Disclosures
141(1)
7 Risk of Loss Provisions
141(1)
8 Closing Provisions
141(1)
9 Signature Provisions
141(1)
C Options
142(1)
VI Contract Clauses
142(1)
A Time Is of the Essence
142(1)
B Title
142(1)
C Escrow
143(1)
D Insurance (Risk of Loss)
143(1)
VII Breach Of Contract
143(8)
A Remedies for the Seller
143(1)
B Remedies for the Buyer
144(1)
C Remedies for the Broker
144(14)
Case Excerpt: Realty Associates, LLC v. Ancker, LLC
144(7)
Summary
151(1)
Skills You Need in the Real World
151(1)
Ethics: Legal Research
152(1)
Cases Relevant to the
Chapter
153(1)
Websites
153(1)
Tech Tool: Multiple Listing Service
153(1)
Annotated Document: Offer Of Purchase For Real Estate
154(1)
Key Terms
154(1)
Review Questions
154(1)
Discussion Questions
155(1)
Applying What You Have Learned
155(1)
Endnotes
156(1)
Chapter 7 Landlord And Tenant Law
Focus of This
Chapter: The law of leasehold estates is explored in depth in this chapter. The chapter examines the rights and duties of landlords and tenants, and addresses issues such as eviction and the various types of landlord-tenant relationships.
I Introduction
157(1)
II Background To Landlord-Tenant Law
158(2)
A Historical Background on Landlord-Tenant Law
158(1)
B Modern Changes to the Landlord-Tenant Relationship
158(2)
Tech Topic: Using Wi-Fi to Lure Tenants
160(1)
III Leases
160(3)
A Fixed-Rent Leases
161(1)
B Percentage Leases
161(1)
C Net Leases
161(1)
D Rent-to-Own Leases
161(1)
E Ground Leases
162(1)
F Timber Leases
162(1)
G Mineral Leases
162(1)
1 Distinguishing Between Leases and Licenses
162(1)
H Oil and Gas Leases
163(1)
IV Common Lease Provisions
163(3)
A Rent
163(1)
B Late Payments and Fees
164(1)
C Pet and Security Deposits
164(1)
D Renewal Provisions
164(1)
E Persons Permitted on the Leased Premises
164(1)
F Acceptance of Leased Premises
165(1)
G Modifying or Altering the Premises
165(1)
H Subletting
165(1)
I Notice
165(1)
V Commercial Leases
166(1)
VI Public Policy Concerns In Leases
167(1)
A Federal Law Requirements
167(1)
B Statute of Frauds Considerations
167(1)
VII Rights And Duties Created By The Landlord-Tenant Relationship
168(6)
A Uniform Residential Landlord and Tenant Act
168(1)
B Landlords' Duties and Rights
168(3)
1 Right to Re-Enter Premises
169(1)
2 Duty to Repair
169(2)
3 Duty to Third Parties
171(1)
4 Discriminatory Practices
171(1)
C Tenants' Duties and Rights
171(2)
1 Right to Use and Enjoyment
172(1)
2 Tenant Duties
172(1)
3 Responsibility for Damages to Leased Premises
172(1)
a Ordinary Wear and Tear
173(1)
b Safety Deposits
173(1)
c Pet Deposits
173(1)
D Legal Doctrines That Arise in the Landlord-Tenant Relationship
173(1)
1 Warranty of Habitability
173(1)
2 Quiet Enjoyment
174(1)
VIII Remedies For Breach Of Duty
174(5)
A Tenant Remedies Against Landlord
174(3)
1 Damages That Can Be Awarded to the Tenant
174(2)
a Equitable Relief
175(1)
b Compensatory Damages
175(1)
c Punitive Damages
176(1)
2 Constructive Eviction
176(1)
3 Actions for Wrongful Eviction
177(1)
B Landlord Remedies Against Tenant
177(2)
1 Eviction
177(2)
a Procedures to Evict
177(1)
b Self-Help Eviction
178(1)
c Retaliatory Eviction
178(1)
IX Classifying Landlord-Tenant Relationships
179(8)
A Tenancy for Years
179(1)
1 Creating a Tenancy for Years
179(1)
2 Terminating a Tenancy for Years
179(1)
B Tenancy from Year to Year
179(1)
1 Creating a Tenancy from Year to Year
179(1)
2 Terminating a Tenancy from Year to Year
180(1)
C Tenancy at Will
180(1)
1 Creating a Tenancy at Will
180(1)
2 Terminating a Tenancy at Will
180(1)
D Tenancy at Sufferance
181(13)
1 Creating a Tenancy at Sufferance
181(1)
2 Terminating a Tenancy at Sufferance
181(19)
Case Excerpt: Ricchetti v. Ellis
181(6)
Summary
187(1)
Skills You Need in the Real World
188(1)
Ethics: Landlords Who Violate State Law
188(1)
Cases Relevant to the
Chapter
188(1)
Websites
189(1)
Tech Tool: Lease Calculator
189(1)
Annotated Document: Apartment Lease
189(1)
Key Terms
190(1)
Review Questions
190(1)
Discussion Questions
190(1)
Applying What You Have Learned
191(1)
Endnotes
191(2)
Chapter 8 Real Estate Deeds
Focus of This
Chapter: This chapter addresses the construction of deeds, beginning with a general description of the role of deeds in real estate transactions, and then describes the specifics of various types of deeds, from general warranty deeds to quitclaim deeds.
I Introduction
193(1)
II A Brief History Of Deeds
193(1)
II Elements Of Deeds
194(12)
A The Deed Must Be in Writing
195(1)
B The Deed Must Identify the Grantor and the Grantee
196(1)
C The Deed Must Be Signed by the Grantor
197(2)
D The Grantor Must Have Legal Capacity
199(1)
E The Property Must Be Adequately Described
200(1)
1 Court Interpretations of Ambiguous Property Descriptions
201(1)
F The Deed Must Contain Language Indicating an Intention to Convey Property Rights
201(1)
G The Deed Must Be Delivered by the Grantor and Accepted by the Grantee
202(2)
1 Proving Delivery
203(1)
Tech Topic: Electronic Recording
203(1)
2 Delivery in Escrow
204(1)
H The Deed Must Be Attested and Acknowledged
204(1)
1 Attestation
204(1)
2 Acknowledgment
204(1)
I Other Deed Provisions
204(2)
1 Seals
205(1)
2 Consideration Recitals
205(1)
3 Exceptions and Exclusions
205(1)
J Nonessential Deed Provisions
206(1)
1 Witnesses
206(1)
2 Date
206(1)
IV Types Of Deeds
206(4)
A General Warranty Deeds
206(2)
1 Seizin
207(1)
2 Quiet Enjoyment
207(1)
3 Against Encumbrances
207(1)
4 Further Assurance
207(1)
5 Warranty Forever
207(1)
B Special Warranty Deeds
208(1)
C Deeds of Trust/Mortgages
209(1)
D Quitclaim Deed
210(1)
V Recording Statutes
210(7)
A Notice Recording Statutes
210(1)
B Race-Notice Recording Statutes
210(1)
C Race Recording Statutes
211(14)
Case Excerpt: Cavanaugh v. Kazounis
211(6)
Summary
217(1)
Skills You Need in the Real World
217(1)
Ethics: Use of Forms
218(1)
Cases Relevant to the
Chapter
218(1)
Websites
218(1)
Tech Tool: Deed Search
218(1)
Annotated Document: General Warranty Deed
219(1)
Key Terms
220(1)
Review Questions
220(1)
Discussion Questions
221(1)
Applying What You Have Learned
221(1)
Endnotes
222(1)
Chapter 9 Mortgages And Financing The Purchase Of Real Estate
Focus of This
Chapter: Mortgages are the lifeblood of real estate sales. This chapter examines mortgages (deeds of trust) in great detail, concentrating not only on the basic legal requirements, but also on the clauses commonly found in mortgages.
I Introduction
223(2)
II Mortgage Markets
225(11)
A Primary Mortgage Market
225(2)
Tech Topic: Speech-Recognition Software
226(1)
B Secondary Mortgage Market
227(9)
1 Federal Agencies in the Secondary Mortgage Market
228(2)
a Fannie Mae
228(1)
b Ginnie Mae
229(1)
c Freddie Mac
229(1)
d HUD
229(1)
e The Role of the Federal Reserve Board
229(1)
f Troubled Asset Relief Program
230(1)
2 Federal Legislation That Governs Real Estate Financing
230(7)
a Dodd-Frank
230(1)
i Sweeping Changes in Truth in Lending
231(1)
ii Potential Problems Under Dodd-Frank
235(1)
iii Violations of Dodd-Frank
235(1)
b Real Estate Settlement Procedures Act
236(1)
III The Legal Requirements Of A Mortgage/Deed Of Trust
236(5)
A Mortgages Versus Deeds of Trust
236(1)
B The Elements of a Mortgage
237(3)
1 Mortgages Must Be in Writing
237(1)
2 The Parties Must Be Identified
238(1)
3 Specific Clauses in Mortgages
238(2)
a Property as Collateral
238(1)
b Promissory Note
238(1)
c Granting Clause
239(1)
d Description of the Debt
239(1)
e Power of Sale Provision
239(1)
f Taxes and Insurance
239(1)
g Estoppel Certificate
239(1)
h Acceleration Clause
239(1)
i Due on Sale Clause
240(1)
j Interest Escalation Clause
240(1)
k Prepayment Clause
240(1)
l Attorney's Fees
240(1)
C Recording Mortgages
240(1)
1 Priority of Mortgages
241(1)
IV Types Of Mortgages
241(4)
A Fixed-Rate Mortgages
241(2)
1 Amortization
242(1)
B Adjustable-Rate Mortgages
243(1)
1 Rate Caps
243(1)
C Other Types of Mortgages
244(1)
1 Purchase-Money Mortgages
244(1)
2 Wraparound Mortgages
244(1)
3 Second Mortgages
245(1)
4 Equity Lines of Credit
245(1)
V Qualifying For A Mortgage
245(7)
A Underwriting
246(1)
B Borrower's Credit History
246(6)
1 Consumer Reporting Agencies
246(1)
2 The Fair Credit Reporting Act
246(6)
3 Points
252(1)
C Appraisal
252(1)
D The Rise of Internet Lenders
252(1)
VI Discharging A Mortgage
252(1)
VII Foreclosure
253(7)
A Judicial Foreclosure
253(1)
B Power of Sale Foreclosure
253(1)
C The Foreclosure Auction
254(1)
D Decreasing Foreclosure Rates
254(15)
Case Excerpt: Conant v. Wells Fargo Bank, N.A.
254(6)
Summary
260(1)
Skills You Need in the Real World
260(1)
Ethics: Predatory Lending
261(1)
Cases Relevant to the
Chapter
262(1)
Websites
262(1)
Tech Tool: Mortgage Calculator
262(1)
Annotated Document: Residential Mortgage
262(5)
Key Terms
267(1)
Review Questions
267(1)
Applying What You Have Learned
268(1)
Endnotes
268(1)
Chapter 10 Public And Private Restrictions On The Use Of Land
Focus of This
Chapter: This chapter explores both public and private restrictions on the use of real estate by landowners. Public restrictions, such as zoning, are explained. Private restrictions, such as restrictive covenants, are examined in detail. Specific emphasis is placed on the role of the paralegal in researching, preparing, and locating various public and private land use restrictions.
I Introduction
269(1)
II Public Restrictions On Private Land Use
269(10)
A Zoning
270(6)
1 Aesthetic Zoning
271(1)
2 Enforcing Zoning Regulations
271(1)
3 Zoning Classifications
271(2)
a Residential
272(1)
b Commercial
272(1)
c Industrial
273(1)
4 Exceptions to Zoning Classifications
273(1)
a Nonconforming Use
273(1)
b Conditional Use Permit
273(1)
c Variance
274(1)
5 Unconstitutional or Illegal Zoning Regulations
274(4)
a "Spot" Zoning
275(1)
Tech Topic: Virtual Planning
276(1)
B Building Codes
276(1)
C Planning Boards
276(1)
D Historical Districts
276(1)
E Urban Planning
277(1)
F Interstate Land Sales Full Disclosure Act
278(1)
G Environmental Issues
278(1)
1 The Superfund
279(1)
III Private Restrictions On Private Land Use
279(10)
A Restrictive Covenants
279(3)
1 Creating Covenants
280(1)
2 Restrictive Covenants "Touch and Concern"
280(1)
3 Typical Covenants
280(1)
4 Illegal or Unconstitutional Covenants
280(1)
5 Enforcing Covenants
281(1)
6 Terminating Restrictive Covenants
281(2)
a Stated Time Period
282(1)
b Abandonment
282(1)
c Changed Conditions
282(1)
d Merger
282(1)
B Subdivision Rules and Regulations
282(1)
C Nuisance Actions
283(14)
1 Public Nuisance
283(1)
2 Private Nuisance
283(1)
Case Excerpt: Moseley v. Arnold
284(5)
Summary
289(1)
Skills You Need in the Real World
290(1)
Ethics: Discriminatory Restrictive Covenants
290(1)
Cases Relevant to the
Chapter
291(1)
Websites
291(1)
Tech Tool: Field Guide to Zoning Laws and Ordinances
291(1)
Annotated Document: Restrictive Covenants
292(1)
Key Terms
293(1)
Review Questions
294(1)
Discussion Questions
294(1)
Applying What You Have Learned
294(1)
Endnotes
295(2)
Chapter 11 Real Estate Professions
Focus of This
Chapter: Various real estate professions are profiled in this chapter, from real estate brokers to law firms that specialize in real estate issues. The chapter also addresses the day-to-day activities of real estate paralegals.
I Introduction
297(1)
II The Law Of Agency
297(7)
A Creating an Agency Relationship
298(1)
B Agent's Duty to the Principal
298(2)
1 Obedience
299(1)
2 Care
299(1)
3 Loyalty
299(1)
4 Accounting
300(1)
C Agent's Duty to Third Parties
300(2)
1 Honesty and Fair Dealing
300(1)
2 Not to Commit Fraud
300(2)
a Material Facts
301(1)
b Sales Tactics
301(1)
3 Avoid Negligent Misrepresentation
302(1)
D Principal's Duty to Agent
302(2)
1 Compensate the Agent
303(1)
2 Cooperate
303(1)
3 Not to Unfairly Injure the Agent
304(1)
E Independent Contractors
304(1)
III Applying Agency Law To Real Estate Agents
304(6)
A A Real Estate Agent's Duty of Care
305(1)
B A Real Estate Agent's Responsibility to Disclose Information
305(1)
C Classifications of Real Estate Agents
306(4)
1 Real Estate Brokers Versus Real Estate Agents
306(1)
2 Becoming a Real Estate Broker or Agent
306(1)
3 Regulations That Govern Real Estate Brokers and Agents
307(1)
4 Services Provided by Real Estate Agents and Brokers
308(2)
a Multiple Listing Service
308(1)
Tech Topic: Electronic Billing
309(1)
b Locating and Prequalifying Buyers
310(1)
IV Other Real Estate Professions
310(18)
A Real Estate Investors
310(4)
1 Advantages of Real Estate Investments
310(2)
a Appreciation in Value
311(1)
b Impact on Credit Rating
311(1)
c Potential Source of Funds
311(1)
d Tax Advantages
311(1)
2 Disadvantages of Real Estate Investments
312(1)
a Poor Liquidity
312(1)
b Property Taxes
312(1)
c Maintenance Costs
312(1)
d Financing and Down Payment Costs
312(1)
3 Real Estate Investment Trusts
312(1)
4 Small Investors and "Do-It-Yourselfers"
313(1)
B Loan Officers
314(1)
1 Online Loan Applications
314(1)
2 Internet Mortgage Lenders
314(1)
C Appraisers
314(1)
1 The Importance of Real Estate Valuation
315(1)
D Surveyors
315(2)
E The Legal Team
317(1)
1 Real Estate Attorneys
317(1)
2 Real Estate Paralegals
317(1)
3 Real Estate Title Searchers
317(1)
4 The Role of Technology in the Real Estate Law Office
317(1)
F Contractors
318(1)
G Property Managers
318(1)
H Inspectors
318(15)
Case Excerpt: Clann Dilis, Ltd. v. Kilroy
319(9)
Summary
328(1)
Skills You Need in the Real World
328(1)
Ethics: Real Estate Professionals' Codes of Ethics
329(1)
Cases Relevant to the
Chapter
329(1)
Websites
330(1)
Tech Tool: Real Estate Commission Calculators
330(1)
Key Terms
330(1)
Review Questions
330(1)
Annotated Document: Real Estate Appraisal
331(1)
Discussion Questions
332(1)
Applying What You Have Learned
332(1)
Endnotes
332(1)
Chapter 12 Title Insurance And Title Examinations
Focus of This
Chapter: Title examinations are treated as a separate chapter because states have radically different approaches to this issue. Regional differences in the method (and even the role) of title examinations in real property transactions are examined closely. This chapter emphasizes the role of the legal team in general and the paralegal in particular in carrying out the various steps of a real estate title examination. The chapter also provides basic forms for title examinations.
I Introduction
333(1)
II Title Insurance
333(3)
A What Title Insurance Does
334(1)
B Obtaining Title Insurance
334(2)
1 Title Insurance Premium
335(1)
2 Terminating the Policy
336(1)
III Title Examinations
336(5)
A What Is a Title Examination?
336(1)
B Information Needed for a Title Examination
337(4)
1 Names of the Current Owners
339(1)
a Grantor-Grantee Index
339(1)
b Tract Index
339(1)
2 Description of the Property to Be Conveyed
339(1)
3 Time Period
339(1)
4 Tax ID Number
340(1)
5 Deed Book and Page Number
340(1)
6 Surveys and Plats
340(1)
IV Steps In A Title Search
341(11)
A Creating a Client File
341(1)
B Step 1: Creating the Chain of Title
342(1)
1 The Tax Office
342(1)
2 Creating the Links in the Chain of Ownership
343(1)
3 Technological Innovations in Land Records
343(1)
C Step 2: Establishing the Out or Adverse Conveyances
343(6)
Tech Topic: Online Title Searches
345(1)
1 Reviewing Title Documents
345(1)
2 Liens
346(1)
3 UCC Listings
346(2)
4 Marriage, Birth, and Death Records
348(1)
5 Probate Records
348(1)
6 Judgments
348(1)
D Step 3: Compiling the Information
349(1)
1 Title Abstracts
349(1)
E Preliminary and Final Title Certificates
350(1)
1 Legal Malpractice and Title Examinations
350(1)
F The Paralegal's Role in Title Searches
350(2)
V Common Problems In Title Searches
352(7)
A Subdivided Properties
352(1)
B Holes or Breaks in the Chain of Title
353(16)
Case Excerpt: Fid. Nat'l Title Ins. Co. v. Butler
353(6)
Summary
359(1)
Skills You Need in the Real World
360(1)
Ethics: Tacking and Other Shortcuts
360(1)
Cases Relevant to the
Chapter
361(1)
Websites
361(1)
Tech Tool: Title Insurance Calculators
361(1)
Annotated Document: Chain Of Title
362(2)
Key Terms
364(1)
Review Questions
364(1)
Discussion Questions
365(1)
Applying What You Have Learned
365(2)
Chapter 13 The Closing
Focus of This
Chapter: This chapter provides a general introduction to closing/settlement procedures nationwide and then examines the specifics of this process in various locales across the country by providing specific examples of how the process is actually carried out. The paralegal's role in the closing is examined in detail.
I Introduction
367(1)
II What Is A Closing?
368(1)
III Preparing To Conduct A Closing
369(6)
A Mortgages
369(1)
B Attorney Representation
369(1)
C Establishing the Date
370(1)
1 Time Is of the Essence
370(1)
D Gathering Documents and Information
371(3)
1 Title Search
372(1)
2 Legal Description of the Property
372(1)
3 Loan Payoff Amounts
373(1)
4 Tax Information
373(1)
5 Inspection Reports
373(1)
E Loan-Closing Software
374(1)
IV People Normally Present At The Closing
375(2)
A Settlement Agent
375(1)
1 Attorney
376(1)
2 Paralegal
376(1)
B Buyer
376(1)
C Seller
376(1)
D Real Estate Agent
377(1)
V The Closing Procedure
377(15)
A Preparing the Loan Package
377(1)
B Verifying Hazard Insurance
378(1)
C Exchanging Documents
378(11)
1 General Warranty Deed
379(1)
2 Mortgage
379(1)
a Promissory Note
379(1)
b Subordination Agreements
379(1)
3 IRS Forms
379(1)
a IRS Form 1099
379(1)
b IRS Form 4506
380(1)
c The W-9
380(1)
4 Lien Waiver Affidavits
380(1)
5 Disclosure Form
380(1)
6 Bill of Sale for Personal Property
380(1)
7 Compliance Agreement
381(1)
8 Credit Insurance Documents
381(1)
9 Loan Application
381(1)
10 USA Patriot Act Requirements
381(1)
11 PMI Disclosure
382(1)
12 Trust Disbursement Records
382(1)
13 Truth-in-Lending Documentation
383(4)
14 Termite Inspection Letter
387(2)
15 Survey
389(1)
D Disbursing the Funds
389(3)
1 Lender's Fees
389(1)
2 Attorney's Fees
390(1)
3 Recording Fees
390(1)
4 Seller's Profit on the Transaction
390(1)
5 Real Estate Agent's Commission
390(1)
6 Tax Payments
390(1)
7 Proration
390(1)
a Prorating Other Bills
391(1)
8 Certified Funds from the Buyer
391(1)
VI Other Closing Issues
392(2)
A "Escrow" Closings
392(2)
1 Modifications to Escrow Closings Under Dodd-Frank
393(1)
B Dual Representation
394(1)
VII After The Closing
394(6)
A Additional Requirements for the Law Firm Under Dodd-Frank
395(12)
Case Excerpt: Johnson v. Alexander
396(4)
Summary
400(1)
Skills You Need in the Real World
401(1)
Ethics: Delegating the Closing to the Paralegal
401(1)
Cases Relevant to the
Chapter
402(1)
Websites
402(1)
Tech Tool: Settlement Statements Under Dodd Frank
402(1)
Annotated Document: Settlement Statement
403(1)
Key Terms
404(1)
Review Questions
404(1)
Discussion Questions
404(1)
Applying What You Have Learned
405(1)
Endnote
405(2)
Chapter 14 Taxation Issues In Real Property
Focus of This
Chapter: This chapter focuses not only on the important issue of how real estate taxes are assessed and collected, but also on the extensive information available through various tax records.
I Introduction
407(1)
II Governmental Powers Of Taxation
407(3)
A What Can Be Taxed?
408(1)
B Tax Exemptions
408(2)
1 Homestead Exemption
409(1)
2 Charitable Exemption
409(1)
3 Nonprofit Exemption
409(1)
4 Government Exemption
409(1)
a Enterprise Zones
410(1)
III How Taxes Are Assessed
410(3)
A Determining the Property Value
410(2)
1 Challenging an Assessment
411(1)
2 Reassessment
412(1)
B Calculating the Tax Rate
412(1)
IV Paying Taxes
413(2)
A Enforcing Tax Regulations
413(2)
1 Tax Liens
413(2)
a Setting Priorities in Tax Liens
413(1)
b Foreclosing a Tax Lien
414(1)
Tech Topic: Real Estate and Taxation
415(1)
V Assessments
415(6)
Case Excerpt: CVAS 2, LLC v. City of Fredericksburg
415(6)
Summary
421(1)
Skills You Need in the Real World
421(1)
Ethics: Tax Dodges
422(1)
Cases Relevant to the
Chapter
422(1)
Websites
422(1)
Tech Tool: Property Tax Comparison and Calculator
422(1)
Annotated Document: County Tax Record
423(1)
Key Terms
424(1)
Review Questions
424(1)
Discussion Questions
424(1)
Applying What You Have Learned
425(1)
Endnotes
425(2)
Glossary 427(4)
Appendix 431(48)
Index 479