Real Estate Law and Land Use Policy Course

Real Estate Law and Land Use Policy is a survey course designed to familiarize students with many of the legal issues commercial real estate practitioners deal with on a regular basis. It provides an overview of the so-called "bundle of rights" associated with real estate ownership, as well as a thorough analysis of the contractual agreements used to create and transfer those rights. Emerging trends in municipal land use regulation and public-private partnerships are also analyzed to help students gain a better understanding of the policy tools government entities rely upon to stimulate, control and tax real estate development. Students completing the course should be in a better position to identify and evaluate potential legal problems involved in complex commercial real estate development and investment transactions.

Learning Objectives

• Differentiate real property and personal property
• Identify possessory and non-possessory interests in real estate
• Examine different forms of co-ownership for real estate
• Review the essential elements of a valid contract
• Analyze key contractual provisions in real estate purchase and sale agreements
• Examine the use of contractual contingencies to mitigate risk
• Relate the concept of legal title to real property rights
• Discuss recording statutes, title searches and title insurance
• Discuss important characteristics of construction loans and permanent loans
• Evaluate contractual methods of allocating risk and responsibility
• Consider ways in which commercial real estate leases can create and mitigate risk
• Analyze sources of government authority to tax and regulate real estate
• Evaluate the opportunities and challenges involved in PPPs