Description
Brokers Real Estate
Law 101
COURSE SYLLABUS
Course Description
This 30 hour Broker prelicensure course provides a broad range of information pertinent to the rules, regulations and requirements as they pertain to Real Estate Law. The topics covered are: the history and execution of law, Michigan Occupational code, the basics of auction law, water rights as they pertain to property owners, environmental laws, income taxes for real property, property management, agency and realtor ethics, and finally Fair Housing and civil rights.
LAW, HISTORY, AND EXECUTION
Learning Objective: Understand the history of and the general makeup of the judicial system.
1. Etymology
2. Modern Jurisprudence
3. History
4. Common Law
5. Court System: Federal, Appellate, State
6. Dispute Resolution
MICHIGAN OCCUPATIONAL CODE
Learning Objective: Be able to outline the regulatory rules that affect the real estate industry.
1. Board of Real Estate Brokers and Salespersons
2. Department of Licensing and Regulatory Affairs
3. Licensing
4. Violations
5. Broker’s Supervision
6. Commissions, Advertising, Selling and Buying Property
7. Disclosure, Trust Accounts
AUCTION LAW IN MICHIGAN
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
WATER RIGHTS
Learning Objective: Outline the most important aspects of riparian rights and how they affect homeownership.
1. Introduction
2. Riparian Rights
3. Types of Waterways
4. Division of Submerged Land
5. Easements to Waterways
6. Public Access to Waterways
7. Inland Lakes and Streams
8. Dams and Flowage Rights
9. Purchasing Waterfront Property
ENVIRONMENTAL LAW
Learning Objective: Gain a broad understanding of pollution and environmental issues.
1. History
2. Environmental Risk Substances
3. Impact on Real Estate Industry
4. Federal Laws and Regulations
5. State and Local Laws
6. Environmental Site Assessments
7. Case Law
8. Natural Resources and Environmental Protection Act
INCOME TAX
Learning Objective: Recognize the benefits of real property ownership, as well as 1031 exchanges, depreciation, and loss.
1. Deductible and Non-Deductible Items
2. Basis
3. Gain, Depreciation, and Loss
4. Mortgage Interest
5. Indebtedness
PROPERTY MANAGEMENT
Learning Objective: Understand the rules and processes involved 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
FAIR HOUSING AND CIVIL RIGHTS
Learning Objective: Identify the most important aspects of Fair Housing regulations, and the importance of the Civil Rights Act.
1. History of Civil Rights
2. Disability Discrimination
3. Civil Rights Law
4. Cases
5. State and Local Laws
AGENCY AND ETHICS
Learning Objective: Gain an understanding of agency, and the importance of professional ethics.
1. Levels of Agency
2. Service Provision Agreement
3. Professional Ethics
FINAL EXAM
Course instructors will be available by email or telephone between 8am and 6pm 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@onlinecti.com. Email responses will usually be returned promptly, but guaranteed within one business day.
Student policies and procedures are always available by going to our website and scrolling to the bottom of the page (See Attendance, Privacy and Refund Policy).
