Write a brief summary of the textbook Chapters 9 & 10, to include the following paragraphs with headings: an overview, 3 key concepts, and a summary. Each “key concept” must include the textbook page numbers. Each paragraph needs a minimum of 3 sentences. Use the template format provided below. Refer to the model assignment (sample) following the template.After writing your discussion, you must reply to at least 2 other student discussions with feedback of at least 50 words. This is your “peer engagement” component of your grade. NOTE: Spelling and grammar are important, so please spell-check and read your work out loud to catch and correct any errors prior to submitting.TEMPLATE:OverviewKey Concept from Chapter 9Key Concept from Chapter 10Key Concept from Chapter 9 or 10SummarySAMPLE:Model assignment: BELOW IS A SAMPLE REFLECTION SUMMARY. DO NOT COPY THE CONTENTS. IT IS A SAMPLE ONLY.Course: BRE 100, Real Estate PrinciplesStudent Name: Ima SuccessToday’s Date: 02/20/2020Textbook Author: Perez, J.Chapter # 1OverviewThe topic of Chapter 1 is an introduction to real estate principles. This chapter covers four important concepts for the real estate student. First, the real estate licensing in California is discussed, along with the real estate market. Second, the historical influence of real property is examined. Third, the difference between real property and personal property is spelled out clearly. And last, the chapter concludes by analyzing various methods of land description. These concepts are important because they may be on the real estate exam for licensees.Key Concept from Chapter 9I learned that real estate can be a profitable professional (p. 4). One of the reasons it can be profitable is because the compensation to agents is based on the sales price of the house. In California, real estate values are typically high, which translates into a high commission. The commission is always paid to the broker, but the real estate salesperson receives a portion. Many real estate agents are using social media to promote their services.Key Concept from Chapter 10The second thing I learned is that property owners have a “bundle of rights” (p. 5). It means they have control of certain things because they own the real estate. Generally, people view it as a bundle of sticks, with each one of them being a “right” the owner has. Their types of rights vary based on their level of ownership. For example, homeowners have the right to possess (live in) their houses – unless they rent out the house to tenants. In that case, the tenant now has the right to possess the house.Key Concept from Chapter 9The third concept I learned is the definition of real property (p. 6). There are four things that define real property: land, affixed to the land, appurtenant to the land, or immovable. These items “tests” are what separates real property from personal property. For example, a refrigerator can be moved out of the house, so it is considered personal property. However, a fence is permanently dug into the ground so it becomes part of the real property, along with the land and the house.SummaryThis was an interesting chapter and I learned a lot about real estate. Real estate has a long and colorful history in California. There are several types of land description methods, which will probably be on the state real estate exam. I know I will have to study some of the concepts further, such as the MARIA acronym of determining personal versus real property. In addition to the knowledge of concepts, real estate involves math calculations.
Victor Valley College
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Education without morals like adding a motor to a rowboat without a rudder.
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Alternatives to Litigation
“Educating Generations, Building Communities”
I.
II.
III.
IV.
V.
Alternative Dispute Resolution (ADR)
Negotiation
Mediation ( A Neutral Third Party)
Arbitration
Resolving Disputes Concerning a Real Estate
License
VI. Complaint Resolutions Used by DRE and CAR
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Part I.
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Alternative Dispute
Resolution (ADR)
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“Educating Generations, Building Communities”
? Conflicts between people are increasingly being resolved
through the use of ADR
? ADR is a catchall term used to describe out-of-court methods to
resolve disputes, including negotiation, arbitration, and
mediation, among other methods.
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?
Nonadjudicative
?
Adjudicative
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“Educating Generations, Building Communities”
? Speedier
? Less Expensive
? Use of an expert as the decision maker
? Proceedings are confidential
? Decisions are final and NOT appealable
? Less formal
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Part II.
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Negotiation
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“Educating Generations, Building Communities”
? A voluntary process where parties attempt to settle their conflicts
in a peaceful manner.
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?
Distributive Negotiation (Win-Lose)
?
Integrative Negotiation (Win-Win)
?
Best Alternative to a Negotiated Agreement (BATNA)
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Part III.
Mediation
( A Neutral Third Party)
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“Educating Generations, Building Communities”
? Advantages to Mediation
?
Parties retain greater control of proceedings
?
Parties know soon if the matter and issues may be resolved,
and differences narrowed
?
The process is quicker and less expensive, if it is resolved
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“Educating Generations, Building Communities”
? Mediator’s Role
?
A mediator facilitates the parties in reaching a voluntary
agreement
?
Mediators will meet individually with each party called a
CAUCUS
The mediator’s role is to be a neutral third party who helps to
resolve the dispute
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?
13
“Educating Generations, Building Communities”
? Mediation Process – 6 steps
1. Pre-session
2. Mediator selected
3. Mediation session (Caucus’)
4. Creation of alternatives and options
5. Agreement/No-resolution possible
6. If an agreement was reached, this step puts it in writing with
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both parties signing
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Part IV.
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Arbitration
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? Types of Arbitration
?
Court-Ordered (Mandated)
Arbitrations
?
Private Arbitrations
?
Nonbinding or Binding
?
California Arbitration
Legislation
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“Educating Generations, Building Communities”
? If no previous arbitration exists, the parties can sign a document
called a SUBMISSION AGREEMENT to arbitrate their dispute.
? Controversy between REALTORS shall be arbitrated – Article 17
?
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Local board rules may require mediation as a first step
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“Educating Generations, Building Communities”
*An arbitrator must comply with the ethics standards adopted by
the California Judicial Council. Those arbitrator ethics standards are
NOT negotiable, and cannot be waived
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“Educating Generations, Building Communities”
Arbitrator’s Role is to be a neutral third party
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“Educating Generations, Building Communities”
1. Selection of the Arbitrator
?
Strike list
2. Power to Issue Subpoenas
?
Subpoena
3. Rules of Judicial Procedure
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? Award
? Trial de Novo
? Petition to Confirm
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Part V.
Resolving Disputes Concerning
a Real Estate License
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“Educating Generations, Building Communities”
? Common Real Estate Law Violations
?
Section 10176
?
Section 10177
?
Section 490
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? Statement of
Issue
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“Educating Generations, Building Communities”
? A restricted license may be issued when the commissioner does
not want to completely revoke or deny a license.
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“Educating Generations, Building Communities”
? Suspension
? Investigation
? After Civil Action
?
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Recovery Fund
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? The administrative
law judge prepares,
within 30 days after
the case is
concluded, a
proposed decision
and delivers it to the
Department of Real
Estate.
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“Educating Generations, Building Communities”
? Reconsideration
? Reinstatement
? Preventing Violations
? Statute of Limitations
? Petition to Request Removal of License Discipline Information8/19/2021
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Part VI.
Complaint Resolutions Used
by DRE and CAR
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“Educating Generations, Building Communities”
? THE DRE SOLUTION:
The mission of the Complaint Resolution Program is to respond
quickly and informally to concerns of consumers and members of
the real estate industry by serving as a facilitator to resolve conflicts
and/or mitigate or prevent Real Estate Law violations
The main purpose of the Complaint Resolution Program is to diffuse
a situation that could result in the loss of a real estate license
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“Educating Generations, Building Communities”
? CAR OFFERS A HELPLINE (Ombudsman)
The CAR Ombudsmen are REALTORS® who volunteer their time to
answer non-legal questions and resolve non-legal disputes
The Ombudsman Hotline is a free service that CAR offers for its
members
An Ombudsman is NOT an attorney and CANNOT give legal advice
legal questions
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Estateanswer
Law
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“Educating Generations, Building Communities”
I.
Alternative Dispute Resolution (ADR)
II.
Negotiation
III. Mediation ( A Neutral Third Party)
IV. Arbitration
V.
Resolving Disputes Concerning a Real Estate
License
VI. Complaint Resolutions Used by DRE and CAR 35
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“Educating Generations, Building Communities”
? Read Next Chapter
? Write Reflection Summary
? Study for Quiz
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“Educating Generations, Building Communities”
? Schedule 1 hour of study every day
? Plan to be early!
? Always be ready
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Only what you put into it!
? Take Notes
? Stay Engaged
? Think of How to Apply
? Ask Questions
? Participate / Share
? Do Activities
? Be Grateful
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“Educating Generations, Building Communities”
? Educate yourself by attending class
? Assignments & Activities
? Read every day
? Never stop learning!
“The more you LEARN the more you EARN.”
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Student Learning Objectives met
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Victor Valley College
Victor Valley College
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Education is not the filling
of a pail, but the lighting
of a fire.
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Title and Alienation
“Educating Generations, Building Communities”
I.
Voluntary Alienation
II.
Involuntary Alienation
III. Recording
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Part I.
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Voluntary Alienation
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“Educating Generations, Building Communities”
? Alienation is the legal term that encompasses all the different
methods of the transfer of real property.
? There are two primary ways to voluntarily transfer property:
BRE – 110 Real Estate Law
?
by Deed
?
by Will
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“Educating Generations, Building Communities”
? A DEED transfers all or part of an interest in real property
? Grantor
? Grantee
? Conveyance
? Written – a deed must always be in writing
? Words of Conveyance
? Competent Grantor
? Grantor’s Name
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? Grantor’s Signature
?
Power of Attorney
?
Acknowledgment
?
Identifiable Grantee
?
Property Description
?
Other Elements
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“Educating Generations, Building Communities”
? Identifiable Grantee – a deed must name an existing, living, and
identifiable grantee
? Adequate Property Description – a deed must contain an adequate
description of the property being conveyed
? Delivery – a deed must be delivered to be effective
? Donative Intent – reflects a conscious desire to make a gift
? Acceptance – a deed is accepted when the grantee retains it or
obtains a mortgage on the property
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“Educating Generations, Building Communities”
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“Educating Generations, Building Communities”
? Grant Deeds and Warranty Deeds
? Quitclaim Deeds
?
Cloud on the Title
? After-Acquired Title
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“Educating Generations, Building Communities”
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“Educating Generations, Building Communities”
1. Formal, Witnessed Wills
?
Statutory Will
2. Holographic Wills
3. Foreign Wills
4. Family Rights Under a Will
5. Revocation
?
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Codicil
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Part II.
Involuntary Alienation
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? Involuntary alienation- is any transfer of property that occurs
against the owner’s wishes or without any action by the owner.
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“Educating Generations, Building Communities”
? Intestate Succession – someone who dies without leaving a will is
said to die INTESTATE
?
Surviving Spouse
?
Children/Grandchildren
?
Adopted Children
?
Half-Brothers and Half-Sisters
?
Illegitimacy and Divorce
?
Stepchildren
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? Escheat
– When a person dies intestate and no heirs can be located, the
property ESCHEATS to the state
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“Educating Generations, Building Communities”
1. Foreclosure
2. Partition
3. Quiet Title
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1. Public Lands
2. Requirements
BRE – 110 Real Estate Law
?
Actual, Open, and Notorious Possession
?
Hostility to the Owner’s Interest
?
Under Claim of Right or Color of Title
?
Exclusive, Continuous, and Uninterrupted
?
Payment of Taxes
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? Eminent Domain – government takes private property for public use
with just compensation
? Severance Damages
? Inverse Condemnation – a private landowner’s property is damaged
by government conduct but the government takes no condemnation
action
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1. Annexation by
People
2. Forces of Nature
?
Accretion
?
Alluvium
?
Reliction
?
Avulsion
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Part III.
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Recording
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A. The Recorder’s Office
1. Indexes
2. Plat Maps
B. Notice
1. The Race/Notice
Rule
2. Recording
Problems
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“Educating Generations, Building Communities”
I.
Voluntary Alienation
II.
Involuntary Alienation
III. Recording
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“Educating Generations, Building Communities”
? Read Next Chapter
? Write Reflection Summary
? Study for Quiz
BRE – 110 Real Estate Law
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“Educating Generations, Building Communities”
? Schedule 1 hour of study every day
? Plan to be early!
? Always be ready
BRE – 110 Real Estate Law
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Only what you put into it!
? Take Notes
? Stay Engaged
? Think of How to Apply
? Ask Questions
? Participate / Share
? Do Activities
? Be Grateful
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“Educating Generations, Building Communities”
? Educate yourself by attending class
? Assignments & Activities
? Read every day
? Never stop learning!
“The more you LEARN the more you EARN.”
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Student Learning Objectives met
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Victor Valley College