California Real Estate Principles

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

• ISBN13: 9780793131570
• ISBN10: 079313157X
• Edition: 4th
• Format: Paperback
• Copyright: 1999-05-01
• Publisher: Dearborn Trade

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	vii	(1)
ACKNOWLEDGMENTS	viii
1 The Business of Real Estate	1	(30)
THE REAL ESTATE LAW	1	(2)
REAL ESTATE BROKERAGE	3	(5)
ACTIVITIES OF A REAL ESTATE BROKER	8	(2)
BUSINESS OPPORTUNITY BROKERAGE	10	(1)
PREPAID RENTAL LISTING SERVICE LICENSE	11	(1)
EXEMPTIONS FROM REAL ESTATE LICENSING REQUIREMENTS	12	(1)
REAL ESTATE LICENSING REQUIREMENTS	13	(4)
ENFORCEMENT OF THE REAL ESTATE LAW	17	(6)
LICENSEE CONDUCT	23	(1)
OTHER ACTIVITIES OF THE DEPARTMENT OF REAL ESTATE	23	(1)
PROFESSIONAL ASSOCIATIONS	24	(2)
SUMMARY	26	(1)
IMPORTANT TERMS	27	(1)
ACHIEVEMENT EXAMINATION 1	28	(3)
2 The Nature of Real Property	31	(22)
HISTORICAL PERSPECTIVE	31	(3)
REAL PROPERTY AND PERSONAL PROPERTY	34	(6)
LAND DESCRIPTION	40	(9)
SUMMARY	49	(1)
IMPORTANT TERMS	50	(1)
ACHIEVEMENT EXAMINATION 2	51	(2)
3 Ownership of Real Property	53	(17)
ESTATES IN LAND	53	(3)
TAKING TITLE TO REAL ESTATE	56	(6)
BUSINESS OWNERSHIP OF REAL ESTATE	62	(4)
SUMMARY	66	(1)
IMPORTANT TERMS	67	(1)
ACHIEVEMENT EXAMINATION 3	68	(2)
4 Transferring Real Estate	70	(23)
HOW REAL ESTATE MAY BE ACQUIRED	70	(12)
DEEDS	82	(7)
SUMMARY	89	(1)
IMPORTANT TERMS	90	(1)
ACHIEVEMENT EXAMINATION 4	91	(2)
5 Encumbrances	93	(23)
ENCUMBRANCES TO REAL ESTATE	93	(1)
LIENS	94	(5)
BANKRUPTCY	99	(1)
EASEMENTS	99	(5)
RESTRICTIONS	104	(4)
ENCROACHMENTS	108	(1)
HOMESTEADS	109	(3)
SUMMARY	112	(1)
IMPORTANT TERMS	113	(1)
ACHIEVEMENT EXAMINATION 5	114	(2)
6 The Law of Agency	116	(38)
THE CONCEPT OF AGENCY	116	(9)
HOW AN AGENCY RELATIONSHIP IS CREATED	125	(2)
AGENCY AGREEMENTS	127	(10)
RIGHTS AND DUTIES OF PRINCIPAL AND AGENT	137	(11)
TERMINATION OF AN AGENCY	148	(1)
SUMMARY	149	(2)
IMPORTANT TERMS	151	(1)
ACHIEVEMENT EXAMINATION 6	152	(2)
7 Contracts	154	(37)
WHAT IS A CONTRACT?	154	(2)
ELEMENTS OF A CONTRACT	156	(8)
DISCHARGING A CONTRACT	164	(3)
REAL ESTATE CONTRACTS	167	(19)
SUMMARY	186	(2)
IMPORTANT TERMS	188	(1)
ACHIEVEMENT EXAMINATION 7	189	(2)
8 Financing Real Estate	191	(40)
PURPOSES OF FINANCING REAL ESTATE	191	(1)
COST OF CREDIT	192	(5)
REAL ESTATE AS SECURITY	197	(14)
REAL ESTATE LENDERSCTHE PRIMARY MORTGAGE MARKET	211	(10)
FEDERAL DISCLOSURE REQUIREMENTS	221	(3)
OTHER LOAN CONSIDERATIONS	224	(2)
SUMMARY	226	(2)
IMPORTANT TERMS	228	(1)
ACHIEVEMENT EXAMINATION 8	229	(2)
9 Government-Sponsored and Other Financing	231	(19)
GOVERNMENT-SPONSORED FINANCING	231	(10)
CREATIVE FINANCING	241	(3)
THE SECONDARY MORTGAGE MARKET	244	(2)
SUMMARY	246	(1)
IMPORTANT TERMS	247	(1)
ACHIEVEMENT EXAMINATION 9	248	(2)
10 Escrow and Title Insurance	250	(28)
ESCROW	250	(6)
ESCROW PROCEDURES	256	(11)
TITLE INSURANCE	267	(7)
SUMMARY	274	(1)
IMPORTANT TERMS	275	(1)
ACHIEVEMENT EXAMINATION 10	276	(2)
11 Real Estate Taxation	278	(24)
PROPERTY TAXATION	278	(13)
FEDERAL INCOME TAXES	291	(6)
STATE INCOME TAX	297	(1)
SUMMARY	298	(1)
IMPORTANT TERMS	299	(1)
ACHIEVEMENT EXAMINATION 11	300	(2)
12 Landlord and Tenant	302	(34)
THE LEASHOLD	302	(21)
MOBILE-HOME TENANCIES	323	(1)
OTHER LEASE ARRANGEMENTS	324	(2)
PROPERTY MANAGEMENT	326	(4)
RENT CONTROL	330	(1)
SUMMARY	331	(2)
IMPORTANT TERMS	333	(1)
ACHIEVEMENT EXAMINATION	334	(2)
13 Real Estate Appraising	336	(30)
APPRAISER LICENSING	336	(2)
WHAT IS A REAL ESTATE APPRAISAL?	338	(5)
THE APPRAISAL PROCESS	343	(3)
SALES COMPARISON APPROACH	346	(3)
COST APPROACH	349	(5)
INCOME CAPITALIZATION APPROACH	354	(3)
RECONCILIATION AND THE APPRAISAL REPORT	357	(5)
SUMMARY	362	(1)
IMPORTANT TERMS	363	(1)
ACHIEVEMENT EXAMINATION 13	364	(2)
14 Residential Design and Construction	366	(24)
BUILDING CONSTRUCTION STANDARDS	366	(3)
ARCHITECTURE	369	(4)
DESIGN AND FUNCTION	373	(2)
CONSTRUCTION COMPONENTS	375	(10)
MANUFACTURED HOMES	385	(1)
SUMMARY	386	(1)
IMPORTANT TERMS	387	(1)
ACHIEVEMENT EXAMINATION 14	388	(2)
15 Government Control and Land Use	390	(22)
LAND-USE REGULATIONS	390	(5)
SUBDIVISIONS	395	(10)
FAIR HOUSING LAWS	405	(3)
SUMMARY	408	(1)
IMPORTANT TERMS	409	(1)
ACHIEVEMENT EXAMINATION 15	410	(2)
Math Appendix	412	(12)
DECIMALS	412	(3)
INTEREST AND LOAN FINANCE PROBLEMS	415	(3)
AREA	418	(4)
SUMMARY	422	(1)
MATH ACHIEVEMENT EXAMINATION	423	(1)
Internet Appendix	424	(2)
Glossary	426	(18)
Answer Key	444	(14)
Index	458