This is an advanced lesson covering the use of letters of intent in real estate transactions. To get the full benefit of this lesson, students should have completed at least the basic law school course in Contracts. Students should also complete the CALI lesson entitled: Purchase Options: Their Uses in Real Estate Transactions.
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.
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.
This lesson explores the concepts of notice and knowledge. These are important concepts in many areas of law, e.g., contracts, property, constitutional law, criminal procedure and civil procedure.
This is the first of two advanced lessons on real estate purchase options. In so doing, the lesson covers their contract nature of options and their uses.
This is the second of two lessons about real estate purchase options. This lesson explains the problems in using purchase options that arise when the subject of the option is real estate.
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.
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.
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 Brokerage Relationships.
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 student, legal professional, lawyer and judge.
This is the first of two lessons on title insurance. Title insurance is a critical component of modern real estate transactions. Anyone buying, selling or owning any interest in real estate, or any lawyer advising or representing such person, needs to know about title insurance. Unfortunately, it's a lot more complicated that the general public believes. This first lesson teaches the basic concepts of title insurance. The next lesson, Title Insurance Coverage, reveals how to determine what title problems are actually covered by a particular policy.
This is the second lesson on title insurance. This lesson is designed to build on what you learned in the first lesson, Title Insurance Basics. Title insurance is a critical component of modern real estate transactions. Anyone buying, selling or owning any interest in real estate, and every lawyer needs to know about title insurance. It's a lot more complicated that the general public believes.