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Course Number: LAW 607

Course Credits: 4

The course explores the real property transfer process, including duties and obligations of broker, seller and buyer to each other; the formal requirements for an enforceable contract; remedies; income tax aspects of real estate and closings; and title insurance. Fundamental aspects and legal problems of real estate financing are also explored, such as absolute deed as a mortgage; remedies of mortgagees, including receivership, assignments of rents, possession; transfers of mortgagor's interest; transfer of mortgagee's interest; foreclosure by judicial proceedings and by power of sale; equitable and statutory redemption. The course may also explore the law concerning leasehold financing, construction financing, purchase money mortgages, replacement and modification of senior mortgages and impact on junior lienors.