WALL COLLEGE OF BUSINESS - Coastal Carolina University



WALL COLLEGE OF BUSINESS

Department of Marketing and Resort Tourism

NEW COURSE PROPOSAL (CRN # )

February 23, 2016

Prepared by: Henry Lowenstein, PhD

Karen Sauls, J.D.

CCU SENATE FORMAT FORM C

Proposal for a New Undergraduate Course

CBAD 413

LEGAL ASPECTS OF REAL ESTATE

Purpose: This course exists as a Selective in the Real Estate Minor and for use in the new Grant Center For Real Estate. The course is available to any business or other student major at CCU as an elective course, provided the student meets the course prerequisite.

Proposed Catalog Description: Legal Aspects of Real Estate provides an introduction to the law and legal environment governing real estate. The course covers such topics as the Nature of Real Property and Rights; Real Estate Transactions, Regulatory structures governing real estate, Land Use and Environmental Considerations; Landlord-Tenant Relationships; Liability Issues, Consumer Protection, and Global Real Estate Issues. The course goal is to train individuals in real estate careers on the legal environment of real estate, legal astuteness in dealing with real estate counsel and regulatory bodies and to better make informed strategic decisions on real estate issues and their implications to stakeholders.

SLOS: Students completing the course will have from a real estate management standpoint, understanding of:

1. Nature and Scope of Real Property and Property Rights

2. Forms of real estate ownership

3. Real Estate Transactions: Contracts, Titles, Insurance, Financing

4 Taxes and Closing Issues

5. Regulatory Structures and Requirements in Real Estate (

6. Licensing and Employment Issues of Agents and Brokers

7. Issues of Tort, Ethics and Consumer Protection in Real Estate

8. Land Use, Zoning, Covenants and Restrictions and Environmental Impact Issues in Real Estate

9. Landlord-Tenant- Relationships

10. Issues in Global Real Estate Transactions

11. Research Literacy on Sources of Real Estate Law, Regulation and Information.

21. Legal Dispute Resolution systems in real estate: Formal and Informal (Special Courts, Administrative Agency proceedings, Alternative Dispute Resolution (ADR)

Pre-Requisites: Students must have completed CBAD 344 Legal Environment of Business with grade of C or higher, or, equivalent legal course subject to program approval.

Co-Requisites: None

Number of Credits: 3 semester hours

Course Restrictions: None

Justification:

The Wall College of Business has approved a Minor in Real Estate in conjunction with the new Grant Center for Real Estate. The purpose of the Center and the academic minor is to encourage students to seek careers in real estate and real estate related industries; jobs that are prevalent in CCU’s region.

Employment in real estate is highly regulated by each State and employment requires the attainment of a license as a sales agent, broker, or attorney. In the case of sales agent or brokers, those seeking licenses must pass a rigidly applied state licensing exam to ensure appropriate knowledge of the discipline. Over half of the exam content deals with Real Estate Law, ethics sales practices and real estate regulatory compliance.

Thus it is essential to the success of CCU students selecting this minor to attain the necessary education expected by the real estate industry to qualify for employment and licensure. Real Estate Law is an essential, key element of this learning and skill development need.

CONSISTENT WITH MISSION: Because of its centrality to the needs of students seeking careers in real estate, the course directly addresses the stated mission of the Wall College of Business.

Describe Impact on Existing Academic Programs:

The course will help enhance the value and breadth of the B.S. Business Administration degree at CCU. The course provides an additional elective opportunity for business students and students of other CCU majors with interest in real estate law and/or careers in related organizations engaged in real estate related activities. The course does not displace or compete with other courses. The course is anticipated to be offered initially once a year and more frequently based on demand and requested scheduling by the Grant Real Estate Center.

Proposed Instructors/Title:

Karen Sauls, J.D. Lecturer of Business Law

(Over 19 years of experience in real estate law and property management)

Alternate Instructors/Title:

As circumstances warrant, the department and college has the flexibility to have the course taught by an appropriate local attorney who has practice specialization in real estate law.

Are there other departments/schools in CCU with expertise in the area covered by the course? None

Method of Delivery: Classroom

RESOURCE ASSESSMENT FOR NEW COURSE PROPOSAL

Assessment Prepared by: Henry Lowenstein, PhD, Professor of Management and Law

| |On-Going & Reallocated |New |

|Full-Time Faculty* |2 | |

|Post-TRRI Faculty |1 | |

|Lab Resources |n/a | |

|Library Resources |existing sufficient | |

|Equipment |existing sufficient | |

|Travel | |May require a field trip depending on |

| | |professor |

|Contract Services |n/a | |

|Other |n/a | |

Is this course part of academic program assessment? Not at this time.

However, the course is consistent with the programmatic objectives of the Grant Real Estate Center and its developing programs.

CBAD 413 LEGAL ASPECTS OF REAL ESTATE

COURSE SPECIFICATION AND REQUIREMENTS

Sample Syllabus (Short Version)

Instructor: Karen Sauls, J.D. Lecturer of Business Law

Office:

Office Hrs: As posted each semester and by appointment

Office Phone:

Email: kasauls@coastal.edu

Course Description:

Legal Aspects of Real Estate provides an introduction to the law and legal environment governing real estate. The course covers such topics as the Nature of Real Property and Rights; Real Estate Transactions, Regulatory structures governing real estate, Land Use and Environmental Considerations; Landlord-Tenant Relationships; Liability Issues, Consumer Protection, and Global Real Estate Issues. The course goal is to train individuals in real estate careers on the legal environment of real estate, legal astuteness in dealing with real estate counsel and regulatory bodies and to better make informed strategic decisions on real estate issues and their implications to the firm.

Course Objectives: (SLOs)

Students completing the course will have understanding of

1. Nature and Scope of Real Property and Property Rights

2. Forms of real estate ownership

3. Real Estate Transactions: Contracts, Titles, Insurance, Financing

4 Taxes and Closing Issues

5. Regulatory Structures and Requirements in Real Estate (

6. Licensing and Employment Issues of Agents and Brokers

7. Issues of Tort, Ethics and Consumer Protection in Real Estate

8. Land Use, Zoning, Covenants and Restrictions and Environmental Impact Issues in Real Estate

9. Landlord-Tenant- Relationships

10. Issues in Global Real Estate Transactions

11. Research Literacy on Sources of Real Estate Law, Regulation and Information.

21. Legal Dispute Resolution systems in real estate: Formal and Informal (Special Courts, Administrative Agency proceedings, Alternative Dispute Resolution (ADR)

Course Assessments/Requirements:

(1) Three in-class tests 45%

(2) Final Exam-in class 20%

(3) Written Topic Assignment to Analyze a 25%

real estate law issue as assigned by instructor

(4) Class Participation 10%

Description of Course Requirements

An extensive description is contained in the longer instructor version of the syllabus. (Detail omitted in the interests of brevity of course proposal)

Course Policies:

An extensive description is contained in the longer instructor version of the syllabus including: Attendance, Academic Integrity-University Policies, Submission of Work, Missed Assignments, Use of Electronics in Class, Religious and Disability Accommodation and classroom conduct. (Detail omitted in the interests of brevity of course proposal)

TEXT AND COURSE MATERIALS:

Robert J. Aalbertam, Real Estate Law, 9th Edition, 2015

Publisher: Cengage Learning, ISBN-10 1285428765

Court Cases Assigned for Analysis publicly available on-line and library resources.

MAJOR TOPIC COVERAGE:

1. INTRODUCTION TO LAW AND REAL PROPERTY SYSTEM

• Review of Legal System

• Real Property

• Air, Mineral, View and Water Rights

• Easements

2. REAL ESTATE TRANSACTIONS

• Forms of Ownership

• Real Estate Contracts

• Real Estate Agents, Agency and Brokers Duties

• Title, Property, PMI, Liability Insurance

• Legal Issues in Financing Real Estate

• Deed Types and Delivery

• Appraisals and Regulatory Requirements

• Closings, Taxation and Methods of Acquisition

• Remedies in Contract-Closing Disputes

3. LAND USE REGULATION

• Zoning

• Building, Occupancy Permits and Inspections

• Environmental Impacts and Requirements

• Owner-Occupier Rights

• Owner-Occupier Duties

• Private Control of Land Use

• Public (Government) Control of Land Use

• Regulatory Takings of Real Property (Eminent Domaine)

4. REAL ESTATE LEASING: LANDLORD-TENANT LAW

• Landlord-Tenant Relationship

• Duties of Landowners and Lessee Occupants

• Legal Regulation of Leased Land Use (Rent Controls)

• Lease Provisions-Lease Remedies

• Tort Liability

5. REAL ESTATE LAW ISSUES IN INTERNATIONAL CONTEXT

• Comparative Purchase and Transaction Systems

• Citizenship Requirements

• Expatriate Issues

• Regulatory and Legal System Differences

• Multi-Lateral Treaty Requirements

Course Format: Classroom-Lecture Discussion

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