California Real Estate Principles

by Stapleton, Charles O.; Williams, Martha R.

• ISBN13: 9780793194193
• ISBN10: 0793194199
• Edition: 5th
• Format: Paperback
• Copyright: 2004-03-01
• Publisher: Dearborn Trade Pub

Summary

Completely revised and thoroughly comprehensive, this is the brand new edition of the state's premier real estate licensing manual! Ideal for home study or classroom, for the prospective real estate broker or salesperson, for anyone seeking a solid foundation for building or maintaining a successful career! Book jacket.

Table of Contents

Preface	p. vii
Acknowledgments	p. viii
The Business of Real Estate	p. 1
The Real Estate Law	p. 1
Real Estate Brokerage	p. 3
Activities of a Real Estate Broker	p. 8
Business Opportunity Brokerage	p. 10
Prepaid Rental Listing Service License	p. 11
Exemptions from Real Estate Licensing Requirements	p. 12
Real Estate Licensing Requirements	p. 13
Enforcement of the Real Estate Law	p. 17
Licensee Conduct	p. 23
Other Activities of the Department of Real Estate	p. 23
Professional Associations	p. 24
Summary	p. 26
Important Terms	p. 27
Achievement Examination 1	p. 28
The Nature of Real Property	p. 31
Historical Perspective	p. 31
Real Property and Personal Property	p. 34
Land Description	p. 40
Summary	p. 49
Important Terms	p. 50
Achievement Examination 2	p. 51
Ownership of Real Property	p. 53
Estates in Land	p. 53
Taking Title to Real Estate	p. 56
Business Ownership of Real Estate	p. 62
Summary	p. 66
Important Terms	p. 67
Achievement Examination 3	p. 68
Transferring Real Estate	p. 70
How Real Estate may be Acquired	p. 70
Deeds	p. 82
Summary	p. 89
Important Terms	p. 90
Achievement Examination 4	p. 91
Encumbrances	p. 93
Encumbrances to Real Estate	p. 93
Liens	p. 94
Bankruptcy	p. 99
Easements	p. 99
Restrictions	p. 104
Encroachments	p. 108
Homesteads	p. 109
Summary	p. 112
Important Terms	p. 113
Achievement Examination 5	p. 114
The Law of Agency	p. 116
The Concept of Agency	p. 116
How an Agency Relationship is Created	p. 125
Agency Agreements	p. 127
Rights and Duties of Principal and Agent	p. 137
Termination of an Agency	p. 148
Summary	p. 149
Important Terms	p. 151
Achievement Examination 6	p. 152
Contracts	p. 154
What is a Contract?	p. 154
Elements of a Contract	p. 156
Discharging a Contract	p. 164
Real Estate Contracts	p. 167
Summary	p. 186
Important Terms	p. 188
Achievement Examination 7	p. 189
Financing Real Estate	p. 191
Purposes of Financing Real Estate	p. 191
Cost of Credit	p. 192
Real Estate as Security	p. 197
Real Estate Lenderscthe Primary Mortgage Market	p. 211
Federal Disclosure Requirements	p. 221
Other Loan Considerations	p. 224
Summary	p. 226
Important Terms	p. 228
Achievement Examination 8	p. 229
Government-Sponsored and Other Financing	p. 231
Government-Sponsored Financing	p. 231
Creative Financing	p. 241
The Secondary Mortgage Market	p. 244
Summary	p. 246
Important Terms	p. 247
Achievement Examination 9	p. 248
Escrow and Title Insurance	p. 250
Escrow	p. 250
Escrow Procedures	p. 256
Title Insurance	p. 267
Summary	p. 274
Important Terms	p. 275
Achievement Examination 10	p. 276
Real Estate Taxation	p. 278
Property Taxation	p. 278
Federal Income Taxes	p. 291
State Income Tax	p. 297
Summary	p. 298
Important Terms	p. 299
Achievement Examination 11	p. 300
Landlord and Tenant	p. 302
The Leashold	p. 302
Mobile-Home Tenancies	p. 323
Other Lease Arrangements	p. 324
Property Management	p. 326
Rent Control	p. 330
Summary	p. 331
Important Terms	p. 333
Achievement Examination	p. 334
Real Estate Appraising	p. 336
Appraiser Licensing	p. 336
What is a Real Estate Appraisal?	p. 338
The Appraisal Process	p. 343
Sales Comparison Approach	p. 346
Cost Approach	p. 349
Income Capitalization Approach	p. 354
Reconciliation and the Appraisal Report	p. 357
Summary	p. 362
Important Terms	p. 363
Achievement Examination 13	p. 364
Residential Design and Construction	p. 366
Building Construction Standards	p. 366
Architecture	p. 369
Design and Function	p. 373
Construction Components	p. 375
Manufactured Homes	p. 385
Summary	p. 386
Important Terms	p. 387
Achievement Examination 14	p. 388
Government Control and Land Use	p. 390
Land-Use Regulations	p. 390
Subdivisions	p. 395
Fair Housing Laws	p. 405
Summary	p. 408
Important Terms	p. 409
Achievement Examination 15	p. 410
Math Appendix	p. 412
Decimals	p. 412
Interest and Loan Finance Problems	p. 415
Area	p. 418
Summary	p. 422
Math Achievement Examination	p. 423
Internet Appendix	p. 424
Glossary	p. 426
Answer Key	p. 444
Index	p. 458
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