Lessons: Real Estate Transactions

This lesson is designed to introduce the student to the role of the mortgage note and the applicable law. This should be of interest to students studying real estate and to students studying negotiable instruments. If you are not already familiar with negotiable instruments, you should go through the CALI lesson entitled "What's a Negotiable Instrument" before trying this lesson. It will focus on the 1990 version of the UCC because that is the law in most states.

30 - 45 minutes

This lesson lays the foundation for the advanced study of mortgages and financing that is based on the security of mortgage, mortgage variants, and mortgage substitutes.

45 minutes

Professors Brown and Grohman, authors of several CALI lessons on covenants, give students a framework to approach studying the material and offer real-life applications of the doctrines. They also discuss the interrelatedness of the law and explain why it's an artificial distinction (and one that complicates learning) to study property issues separate from civil procedure issues, for example.

13:05 minutes

This lesson will introduce you to real estate brokers and familiarize you with: 1) the traditional relationship between real estate brokers and the parties to real estate transactions; 2) the duties that arise from that relationship; and 3) the effects of the breach of that duty.

30 to 45 minutes

This lesson is designed to introduce students to the methods by which real estate brokers are compensated. Before beginning this lesson, you should complete Real Estate Brokers 1: Traditional Agency Relationships.

30 minutes

This lesson introduces the student to the doctrine and processes involved in interpreting state and federal statutes. Statutes are a critical part of every substantive area of the law, so this is important background for every law student, lawyer and judge.

30 minutes

This exercise provides a review of the wetlands protection provisions of the Clean Water Act. The exercise focuses on several land development proposals in Midway, Ames that may adversely impact wetlands. Through a series of multiple choice questions, the student advises the developers whether their proposed developments would require a permit under Section 404 of the Clean Water Act or a state wetlands protection law, and whether a general permit might authorize the proposed developments. In addition, the student examines the procedures that the Corps and EPA use when they issue a Clean Water Act Section 404 permit, the standards for approval of a permit, and the conditions that might be placed on the permit. Finally, the student explores the takings implications that may arise when the Corps denies a developer a wetlands permit. The exercise provides the students with maps of the proposed developments and a copy of a permit application for one of the development proposals. Many of the important statutory provisions are hypertext-linked to the questions for ease of reference. Timing, scoring and hardcopy printout features are available.

2 hours

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