Tuesday May 16 First Test (Chapters 1-4, and 8 if covered. Wednesday May 17. Read. Chapters 13 and 14. Lecture re: contract law.

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1 Syllabus RE 6455 Real Estate Law - (CRN Summer 2006) Morning 8 to 12 Monday May 15 Read Chapters 1-4 Read Chapter 8 if time permits Tuesday May 16 First Test (Chapters 1-4, and 8 if covered Read Chapter 5 and Chap. 8, if not prev. covered Wednesday May 17 Read Chapters 13 and 14 Lecture re: contract law Skim Chapters 12 and 15 Thursday May 18 Second Test (Chapters 5, 13,14 Skim Chapter 17 Lecture re: Estate tax consequences. Chap. 8, if not prev. covered. Friday May 19 Skim Chapter 21 Read Chapter 22. Lecture Tax Issues related to Chapter 21 and 22 Skim Chapter 7 Lecture- Survey and Title Policy Issues Afternoon 1-5 Skim Chapters 11 and 20 Guest Speaker for Chaps 11 and 20 Skim Chapter 6 Guest Speaker for Chapter 6 Review Test Skim Chapter 16 Guest Speaker for Chapter 16 Skim Chapter 18 Guest Speaker for Chapter 18 Review Test Review Final Exam Cumulative See the attached chapter outlines. If the agenda indicates Read, you should read and understand the chapter in detail as set forth in the outlines and know the definitions of the Key Terms at the end of each chapter. If the agenda indicates Skim, you should familiarize yourself with the topics covered in the chapter. Other material, problems or assignments will be assigned in class. The syllabus is on line. Page 1 of 10

2 Chapter 1 Know the definitions of all Key Terms on page 13, Review Problems 1, 2, 4, 6, SOURCES OF REAL ESTATE LAW 1 The United States Constitution 2 Federal Legislative Enactments 3 Federal Administrative Regulations 4 State Constitutions 5 State Legislative Enactments 5 State Administrative Regulations 5 County, City, and Borough Ordinances 6 Private Law 6 Chapter 2 Know the definitions of all Key Terms, Review Problems 1, 2, 4, 8 LAND INTERESTS FREEHOLD ESTATES AND 16 ACCOMPANYING FUTURE INTERESTS Freehold Estates 16 Fee Simple Absolute Ownership 16 Fee Simple Defeasible 16 Fee Simple Determinables and Possibility of Reverter 16 Possibility of Reverter The Fee Simple Determinable 18 Future Interest Fee Simple Subject to a Condition Subsequent 18 Right of Entry/Power of Termination 18 Dennis v. Bird 19 Fee Tail Ownership 21 Life Estate Ownership 22 Reversions 23 Remainders 23 Executory Interests 25 SPECIAL RULES GOVERNING INTERESTS IN 27 LAND Lusk v. Broyles 27 Doctrine of Worthier Title 28 Rule Against Perpetuities 29 Page 2 of 10

3 Chap 3 Know the definitions of all Key Terms, Review Problems 1, 2, 4, 8 LAND INTERESTS ABOVE THE SURFACE 37 Air Rights 37 United States v. Causby 38 The Right to Light 41 Fountainebleau Hotel Corp. v. Forty-Five Twenty-Five, Inc. 42 Right to a View 44 Determinable Future Interest Pierce v. Northeast Lake Washington Sewer and Water District 44 SURFACE AND SUBSURFACE RIGHTS 46 Mineral Rights: Oil and Gas Ownership 47 Geothermal Energy 50 Water Rights 50 Stupak-Thrall v. United States 52 PROTECTION OF PROPERTY RIGHTS 54 Trespass 54 Nuisance 54 Jordan v. Georgia Power Co. 55 DUTIES OF LANDOWNERS 57 Trespassers 57 Licensees 57 Invitees 57 Breach of Duty 58 Page 3 of 10

4 Chapter 4: Nonpossessory Interests in Real Estate EASEMENTS 65 Types of Easements: Appurtenant v Easements in 65 Gross Types of Easements: Affirmative v. Negative 66 Easements The Parties: Dominant v Servient Estates 67 Creation of Easements 67 Granite properties limited Partnership v Manns 69 Carnahan v Moriah Property Owners Association, Inc. 73 Scope and Extent of Easements 75 Wetmore v Ladies of Lorretto, Wheaton 76 PROFITS 80 LICENSES 80 COVENANTS 81 Page 4 of 10

5 Chapter 8, METHODS OF CO-OWNERSHIP 144 Tenancies in Common 144 Joint Tenancies 144 The Language of a Joint Tenancy 144 Estate of Gullege 145 Other Requirements for Joint Tenancy Creation: The 147 Unities Tenancies by Entirety and Other Survival Martial 148 Property Interets Tenancy in Partnership 148 CREDITORS RIGHTS AND CO-OWNERSHIP 149 RIGHTS AND RESPONSIBILITIES OF 150 COTENANTS Rents 150 Expenditures 150 Partition and Ouster 150 MARITAL PROPERTY RIGHTS CO- 151 OWNERSHIP BY MARRIAGE The Common Law Dower Rights 151 MARITAL PROPERTY RIGHTS-CO-OWNERSHIP 151 BY MARRIAGE The Common Law-Dower Rights 151 Funches v. Funches 152 The Common Law-Curtesy Rights 153 Statutory Marital Law-Community Property 153 Diosdado v Diosdado 154 Extension of Property Rights to Relationships Beyond 156 Marriage Champion v. Frazier 156 Premarital or Antenuptial Agreements 158 In re Marriage of Bonds 159 Page 5 of 10

6 Chapter 5 Key Term Definitions, Problems 1, 2, 6, 8 DEFINITION OF A FIXTURE 85 Degree of Annexation Test 86 Nature and Use of the Property 86 Relationship Between Annexor and Premises 86 Intent 87 Trade Fixtures 87 Who Wants to Know? 87 Mulford v Fairfax Center LLC 88 Specialty Restaurants Corporation v County of 90 Los Angeles A Word on Precautions 93 Attachments 94 TRANSFER OF TITLE TO FIXTURES 94 AND PERSONAL PROPERTY CREDITORS RIGHTS IN FIXTURES 94 Scope of Article 9 94 Creation (Attachment) of Security Interests 94 (9-203) Purchase Money Security Interest in Fixtures 95 (9-103) Perfection of Security Interest (9-301) 95 General Rules of Priority Among Secured 96 Creditors (9-317) Exceptions to General Rules 97 Default by Debtor and Rights of Secured 97 Party (9-604) Page 6 of 10

7 Chapter 6: LIENS Do not read the cases. Problems 1,2,3,4 TYPES OF LIENS 103 Statutory Liens 103 Equitable Liens 104 Voluntary v. Involuntary Liens 104 Judicial Liens 104 Mechanic s and Materials Liens 104 CREATION OF MECHANIC S LIENS 105 Who Is Subject to Lien? 105 Kansas City Heartland Construction Co., v. Maggie 105 Jones, Southport Café, Inc. Mull, et al. v. Mickey s Lumber & Supply Co. Inc. 108 Who Is Entitled to a Lien? 109 Haz-Mat Response, Inc. v. Certified Waste Services 109 Limited Ontiveros v. Sanchez 112 What Property Is Subject to a Lien 115 PROCEDURAL ASPECTS OF OBTAINING A 116 LIEN PRIORITY OF LIEN INTERESTS 116 Attachment of Lien 116 Rights of Purchasers 117 Sundance Mechanical & Utility Corporation v Atlas 117 Priority Among Mechanic s Liens 118 Mechanic s Liens and Fixture Filings 119 Mechanic s Liens and Homestead Exemption 119 Mechanic s Liens and Mortgages 119 TERMINATION OF MECHANIC S LIENS 120 Waiver or Release by Agreement 120 LIEN ALTERNATIVES 120 Page 7 of 10

8 Chapter 13: Only read the cases assigned and the material assigned TRANSFER OF PROPERTY BY DEED 298 Requirements of Valid Deed 298 TYPES OF DEEDS 306 Quitclaim Deed 306 Warranty Deed 306 Schorsch v. Blader 307 Special Warranty Deed 308 Deed of Bargain and Sale 309 Judicial Deed 309 TRANSFER OF PROPERTY BY ADVERSE 309 POSSESSION Actual and Exclusive Possession 310 Open, Visible, and Notorious Possession 310 Hostile and Adverse Possession 311 Possession for Required Statutory Period 311 Observations About Adverse Possession 314 TRANSFER OF PROPERTY BY INTER VIVOS GIFTS 314 Donative Intent 315 Delivery 315 Acceptance 315 TRANSFER OF PROPERTY BY WILL OR INTERSTATE SUCCESSION 316 TRANSFER OF PROPERTY OF EMINENT DOMAIN 316 PROTECTION OF TITLE 316 Recording 316 Gensheimer v. Kneisley 321 Torrens System 322 Title Abstracts 322 Title Insurance 322 The Title Policy 324 Somerset Savings Bank v. Chicago Title Insurance 326 Company Page 8 of 10

9 Chapter 14 The Purchase Contract Know the Key Terms, Problems 1, 2, 3 COMMON LAW PRINCIPLES OF FORMATION AS APPLIED TO REAL ESTATE CONTRACTS 333 Offer 333 Options 335 Acceptance 338 Gilmore v Lujan 339 Consideration 341 Trengen v. Mongeon 341 SPECIFIC REQUIREMENTS FOR REAL ESTATE CONTRACTS 342 Writing Requirements 343 Signature of Parties 343 Adequate Description of Property 344 TERMS OF PURCHASE CONTRACTS 344 Property Identification 344 Earnest Money 345 Financing 345 Property Reports 348 Federal Disclosure Requirements 349 Condition of Premises 350 S Development Co. v. Pima Capital management Co. 352 Environmental Contingency Clause 355 Risk of Loss 355 Recording the Contract 355 Closing Date and Escrow Instructions 356 Apportionments 356 Marketable Title 356 Remedies 358 Kelly v. Marx 359 MISREPRESENTATION 361 Reed v. King 362 DISCLOSURE STATUTES 364 Psychological Disclosure Statutes 365 Page 9 of 10

10 Chapter 22: Legal Issues in Land Acquisition, Finance, and Development LAND ACQUISITION 569 Market Analysis 569 Governmental Analysis 570 Southern Nevada Homebuilders Association, Inc. v. City of North Las Vegas 571 White v. Metropolitan Dade County 573 GOVERNMENTAL APPROVAL 574 Zoning 574 Protests of Residents Exercising Rights 575 Other Agency Approvals 575 LAND FINANCE 575 The Basics of Real Estate Syndication 576 Syndication Forms-General Partnerships 576 Syndication Forms-Limited Partnerships 578 American National Ins. Co. v. Gilroy, Sims & Associates, 579 Ltd. Syndication Forms-Corporations 581 Syndication Forms-Limited Liability Companies (LLC) 583 Syndication Forms-Limited Liability Partnerships (LLC) 584 Syndication Forms-Investment Trusts 585 Securities Issues in Finance and Syndication 586 LAND IMPROVEMENT AND CONSTRUCTION 591 Legal Paperwork for Development and Construction 591 Cappelo v. Ciresi 592 Construction Stage 595 Sasser & Company v. Griffin 597 Hoth v. White 600 Substantial Performance by Contractor 602 Compliance with Building Codes 602 Compliance with the Americans with Disabilities Act 603 Pinnock v. International House of Pancakes Franchisee 603 Sales of Sites 605 Page 10 of 10