Real Estate Law

, by Siedel, George; Aalberts, Robert J.

Note: Supplemental materials are not guaranteed with Rental or Used book purchases.

ISBN: 9780324204803 | 0324204809
Cover: Hardcover
Copyright: 2/10/2005

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Understanding the past and present of real estate is the key to understanding its future. REAL ESTATE LAW is written in a clear and concise style that delivers the latest information on private and public law transactions, as well as e-commerce developments, so you'll be prepared for the next era in real estate law. Because of its unique approach, this real estate law textbook is especially practical an ideal for majors and non-majors alike.

Preface

Summary of Contents

xiii

Part I The Legal System and the Nature of Real Property

(126)

Introduction to the Legal System

(24)

Sources of Law

(10)

Constitutions

(2)

Statutes

(1)

Administrative Law

(1)

Judicial Decisions

(4)

The Role of Ethics in the Law

(1)

The Court System

(2)

State Courts

(1)

Federal Courts

(1)

Legal Procedure

(4)

Commencement of Legal Action

(1)

The Defendant's Response

(1)

Discovery---The Deposition

(1)

Other Methods of Discovery

(1)

The Trial

(1)

Concluding Stages

(1)

Alternative Methods of Resolving Disputes

(2)

Settlements

(1)

The Administrative Process

(1)

Neutral Third Party

(2)

Key Terms

(1)

Problems

(3)

The Nature of Property

(29)

The Concept of Property

(2)

Real and Personal Property

(2)

Sources of Law

(1)

Form of Transfer

(1)

Taxation

(1)

Fixtures

(13)

Fixture Tests

(4)

Fixture Disputes

(8)

Cases

(8)

Key Terms

(1)

Problems

(4)

Scope of Real Property

(34)

Rights to the Sky

(6)

Traditional Approach

(1)

Air Travel

(2)

Cloud Seeding

(1)

Sale of Air Rights

(1)

Outer Space

(1)

Rights to the Depths

(3)

Alternative Energy Sources

(1)

Water Rights

(10)

Importance of Water Rights

(1)

Navigable Water

(1)

Ownership of Land Under Water

(1)

Use and Control of Water

(5)

Groundwater and Surface Water

(2)

Lateral Support

(1)

Common Law

(1)

Statutory Approach

(1)

Cases

(10)

Key Terms

(1)

Problems

(4)

Rights in Land of Others

(39)

Easements

(21)

Definitions and Classifications

(6)

Creation of Easements

(9)

Extent of the Easement

103

(3)

Termination of Easements

106

(3)

Profits

109

(1)

Licenses

110

(1)

Cases

111

(11)

Problems

122

(5)

Part II The Real Estate Transaction

127

(308)

Types of Ownership

128

(37)

Estates in Land

128

(9)

Fee Simple Absolute

129

(1)

Fee Simple Defeasible

130

(2)

Fee Tail

132

(1)

Conventional Life Estates

132

(5)

Concurrent Ownership

137

(9)

Joint Tenancy

137

(2)

Tenancy by the Entirety

139

(2)

Tenancy in Common

141

(1)

Rights of Concurrent Owners

142

(1)

Joint Ownership and Estate Planning

143

(2)

Community Property

145

(1)

Forms of Ownership for Investment Purposes

146

(7)

Partnerships

147

(1)

Limited Partnerships

148

(1)

Corporations

149

(1)

Limited Liability Companies (LLCs)

150

(1)

Real Estate Investment Trusts (REITs)

151

(1)

Federal Securities Regulation

151

(2)

Cases

153

(8)

Key Terms

161

(1)

Problems

161

(4)

The Search for Real Estate

165

(45)

The Real Estate Agent

166

(2)

Licensing Requirements

166

(1)

Penalties for Acting Without a License

167

(1)

Listing Agreements

168

(7)

Statute of Frauds

168

(1)

Types of Listing Agreements

168

(2)

Procuring Cause of Sale

170

(1)

Broker's Commission

171

(1)

Performance of the Listing Agreement

171

(2)

Cancellation of the Listing Agreement

173

(1)

Multi-Listing

173

(2)

Commercial Listing Services

175

(1)

The Duties of the Broker

175

(8)

Authority of the Broker

175

(2)

The Undisclosed Principal and the Secret Agent

177

(1)

The Broker's Fiduciary Duty

177

(3)

Buyer Brokering

180

(1)

The Broker's Duty of Disclosure to Buyers

181

(1)

The Broker's Unauthorized Practice of Law

182

(1)

The Internet and the Future of the Real Estate Broker

182

(1)

Interstate Land Sales Full Disclosure Act

183

(2)

Discrimination in Selling or Leasing Real Estate

185

(5)

Civil Rights Act of 1866

185

(1)

Fair Housing Legislation

185

(4)

State and Local Laws

189

(1)

Cases

190

(16)

Key Terms

206

(1)

Problems

206

(4)

The Real Estate Contract

210

(40)

Legal Requirements

211

(7)

Statute of Frauds

211

(2)

Negotiating the Written Contract

213

(1)

Required Terms in the Written Contract

214

(4)

Additional Contract Provisions

218

(13)

Marketable Title

219

(3)

Equitable Conversion

222

(1)

Other Contract Provisions

223

(4)

Warranties

227

(4)

Contractual Remedies

231

(1)

Specific Performance

231

(1)

Damages

231

(1)

Avoiding the Contract

232

(6)

Mistake

232

(1)

Minority and Other Forms of Incapacity

232

(1)

Duress

233

(1)

Undue Influence

233

(1)

Misrepresentation

234

(1)

Statutory Duties to Disclose Defects

235

(3)

Cases

238

(7)

Key Terms

245

(1)

Problems

245

(5)

Title and Insurance

250

(42)

Title

250

(12)

Recording Statutes

251

(5)

Proof of Title

256

(5)

The Future of Title Insurance Practices

261

(1)

Property and Liability Insurance

262

(6)

Property Coverage

262

(3)

Liability Coverage

265

(1)

Insurable Interest

266

(1)

Mortgage Insurance

266

(1)

Commercial Insurance

267

(1)

Cases

268

(20)

Key Terms

288

(1)

Problems

288

(4)

Financing the Real Estate Purchase

292

(51)

Definitions

293

(2)

Federal Regulation of Residential Lending

295

(5)

Fair Lending Laws

295

(3)

Disclosures of Loan Terms and Procedures

298

(2)

Loan Application and Commitment

300

(5)

Environmental Law

304

(1)

The Mortgage Documents

305

(6)

The Note

305

(4)

Security for the Note: The Mortgage

309

(2)

Rights and Duties After Closing

311

(3)

Possession

311

(1)

Rents and Profits

312

(1)

Repairs and Improvements

312

(1)

Taxes

313

(1)

Insurance

313

(1)

Mortgage Termination by Payment or Transfer

314

(6)

Mortgage Payment

314

(1)

Transfer by Mortgagor

314

(3)

Transfer by Mortgagee

317

(3)

Electronic Transfer of Mortgages

320

(1)

Mortgage Termination by Foreclosure

320

(4)

Deed in Lieu of Foreclosure

324

(1)

Effect of Bankruptcy on Foreclosure

324

(1)

Installment Contracts

324

(2)

Interest of Parties

325

(1)

Proof of Title

325

(1)

Remedies on Default

325

(1)

Statutory Liens

326

(4)

Mechanics' Liens

326

(3)

Other Statutory Liens

329

(1)

Cases

330

(8)

Key Terms

338

(1)

Problems

338

(5)

Closings and Taxation; Other Methods of Acquisition

343

(46)

Deeds

343

(12)

Types of Deeds

344

(1)

Formal Requirements

345

(7)

Delivery

352

(3)

The Closing Process

355

(6)

Flow of Money

355

(3)

The Mortgage Closing

358

(1)

Appraisals and Appraiser Liability

359

(1)

The Property Closing

359

(1)

Flow of Documents

360

(1)

Taxation of Real Estate

361

(2)

Taxation of Seller

361

(1)

Taxation of Buyer

362

(1)

Real Estate Reporting Requirements

362

(1)

Other Methods of Real Estate Acquisition

363

(9)

Death

363

(5)

Adverse Possession

368

(4)

Cases

372

(13)

Key Terms

385

(1)

Problems

385

(4)

Landlord and Tenant

389

(46)

Leasehold Estates and Licenses

390

(3)

Estate for Years

390

(1)

Periodic Tenancy

390

(2)

Tenancy at Will

392

(1)

Tenancy at Sufferance

392

(1)

Licenses

392

(1)

Landlord's Choice of Tenant

393

(4)

Initial Selection of Tenant

393

(2)

Retaliatory Eviction

395

(2)

Required Lease Provisions

397

(4)

Introduction: Residential vs. Commercial Leases

397

(1)

Writing Requirements

397

(1)

Names and Signatures

398

(1)

Description of Property

398

(1)

The Lease Term

399

(1)

Rent

399

(1)

Security Deposit

400

(1)

Suggested Lease Provisions

401

(9)

Condition of Premises

402

(2)

Tenant's Use of Property

404

(3)

Transfer of Leasehold Interests

407

(3)

Remedies

410

(4)

Tenant's Remedies

410

(2)

Landlord's Remedies

412

(2)

Landlord's Tort Liability

414

(6)

Hidden Dangers Known to Landlord

415

(1)

Injury Outside the Premises

415

(1)

Premises Leased for Public Admission

416

(1)

Landlord Reserves Control

416

(1)

Landlord's Repair of Premises

416

(1)

Liability for Tenant's Activities

417

(1)

Landlord's Liability for Criminal Acts

417

(1)

Modern Trend in Landlord Liability

418

(1)

Exculpatory Clauses

419

(1)

Cases

420

(9)

Key Terms

429

(1)

Problems

429

(6)

Part III Land Use and Regulation

435

(142)

Rights and Duties of Landowners and Occupants

436

(51)

Tort Law

436

(2)

Trespass to Land

438

(5)

Elements

438

(1)

Damages

439

(1)

Privileged Trespass

440

(3)

Nuisance

443

(7)

Nuisance Defined

444

(1)

Elements of Private Nuisance

445

(5)

Invasion of Privacy

450

(1)

Tort Right to Privacy

450

(1)

Constitutional Right to Privacy

451

(1)

Lost and Misplaced Property

451

(1)

Duties to Persons Outside the Real Estate

452

(2)

Injuries Caused by Conditions

453

(1)

Injuries Caused by Activities

453

(1)

Duties to Persons Entering the Land

454

(13)

Trespassers

455

(1)

Child Trespassers

456

(2)

Licensees

458

(3)

Invitees

461

(3)

Merging the Categories

464

(3)

Cases

467

(14)

Key Terms

481

(1)

Problems

481

(6)

Legal Planning and Regulation of Land Use

487

(60)

Private Control of Land Use

488

(8)

Common Law Tort Remedies

488

(1)

Voluntary Restrictions on Land Use

489

(7)

Governmental Ownership and Regulation of Land

496

(20)

Governmental Ownership of Real Estate

496

(9)

Zoning

505

(11)

Land Use Planning

516

(4)

State Land Use Planning

516

(2)

Federal Land Use Planning

518

(2)

Planned Unit Developments, Condominiums, Timesharing, and Cooperatives

520

(6)

Planned Unit Developments

520

(1)

Condominiums

521

(3)

Timesharing

524

(1)

Cooperatives

524

(2)

Cases

526

(14)

Key Terms

540

(1)

Problems

540

(7)

Environmental Law and Regulation

547

(30)

Environmental Legislation

547

(11)

National Environmental Policy Act

547

(1)

State Laws Modeled After NEPA

548

(1)

Environmental Protection Agency

549

(1)

Specific Federal Environmental Protection Legislation

549

(9)

State Environmental Protection Legislation

558

(1)

Judicial Review of Administrative Decisions

558

(4)

Standing

559

(1)

Ripeness

560

(1)

Exhaustion of Remedies

561

(1)

Reviewability

561

(1)

Cases

562

(9)

Key Terms

571

(1)

Problems

571

(6)

Appendices

577

(26)

Appendix A: Checklist for Use in Real Estate Transactions

579

(6)

Appendix B: Checklist for Use in Drafting Shopping Center Leases

585

(4)

Appendix C: Forms

589

(14)

Listing Agreement

589

(1)

Real Estate Sales Contract

590

(2)

Mortgage Note

592

(1)

Mortgage

593

(1)

Deeds

594

(1)

Closing Statement

595

(2)

Claim of Lien

597

(1)

Will of Henry Ford

598

(5)

Index

603

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Real Estate Law

Summary

Table of Contents

Supplemental Materials