6-Hour Legal Descriptions, Property Management, and Auction Law Syllabus

Course Description

Legal descriptions, as the name implies, are the way and means by which real property, or real estate, is legally identified, conveyed, assessed and taxed. When real estate is transacted, it is the legal description that uniquely describes and identifies the property involved in the transaction and all of its appurtenances. Legal descriptions are used in all types of transactions, not just those involving the sale or purchase of real estate. Legal descriptions are used in deeds of conveyance, mortgages, claims of title, leases, title insurance policies, easements, etc. To do this effectively, an adequate understanding of legal descriptions is necessary.

Property management can be, and often is a legitimate part of a real estate business. Many brokerages find that incorporating property management into the business can bolster revenue during a down market. Laws that govern property management are, however, different from those that govern how to operate a real estate brokerage. This course will outline some of the most important aspects to keep in mind when considering expanding your business.

This 2 hour segment provides an in-depth introduction to auction law: the rules, regulations and requirements, as well as how auctions relate to real estate sales. Real estate professionals will gain an understanding of public vs. private auctions, different types of auctions, the law surrounding auctions, and how real property is sold through the auction process.

 


 

LEGAL DESCRIPTIONS

Metes and Bounds

1. Introduction

a. Metes and Bounds
b. Survey System
c. Subdivisions

2. Metes and Bounds

a. POB
b. Distances
c. Directions

Survey System

1. History

2. Survey System

a. Principal Meridians
b. Base lines
c. Range lines
d. Township lines

3. Michigan Survey History

a. Townships

Numbering System

1. Examples
2. Practice Questions

Subdivisions

1. Methods
2. Land Division Act

a. Subdivision
b. Condo
c. Division
d. Exempt Split

3. Bonus Splits

PROPERTY MANAGEMENT

Learning Objective: Understand rules and processes involeved in real estate property management.

1. Leasehold Estates
2. Types of Leases
3. State Laws
4. Truth in Renting
5. Landlord/Tenant Relationship
6. Summary Procedures Act
7. Case Law
8. Natural Resources and Environmental Protection Act

AUCTION LAW

Learning Objective: Gain an understanding of the auction process and its relation to the industry.

1. Introduction
2. Types of Auctions
3. Terminology
4. Michigan Uniform Commercial Code
5. Case Law


Course instructors will be available by email or telephone between 9am and 5pm Eastern Standard Time. They will assist you with questions regarding course content.

If you have any questions, please call us at 1-800-727-7104 or send an email to info@traininginstitutesedu.com. Email responses will usually be returned promptly, but guaranteed within one business day.

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