California Real Estate Principles

by Stapleton, Charles O., III

• ISBN13: 9781419526831
• ISBN10: 1419526839
• Edition: 6th
• Format: Paperback
• Copyright: 2005-08-01
• Publisher: Kaplan

Summary

California Real Estate Principles is an introduction to the many interesting aspects of the real estate business. The text is suitable for both distance learning and classroom instruction.

Table of Contents

Preface	p. vii
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. 6
Business Opportunity Brokerage	p. 12
Prepaid Rental Listing Service License	p. 14
Exemptions from Real Estate Licensing Requirements	p. 14
Real Estate Licensing Requirements	p. 15
Enforcement of the Real Estate Law	p. 21
Licensee Conduct	p. 25
Other Activities of the Department of Real Estate	p. 25
Professional Associations	p. 29
Summary	p. 30
Important Terms	p. 31
Open for Discussion	p. 31
Achievement Examination 1	p. 32
The Nature of Real Property	p. 35
Historical Perspective	p. 35
Real Property and Personal Property	p. 39
Land Description	p. 45
Summary	p. 54
Important Terms	p. 55
Open for Discussion	p. 56
Achievement Examination 2	p. 57
Ownership of Real Property	p. 59
Estates in Land	p. 59
Taking Title to Real Estate	p. 63
Business Ownership of Real Estate	p. 69
Summary	p. 73
Important Terms	p. 74
Open for Discussion	p. 74
Achievement Examination 3	p. 75
Transferring Real Estate	p. 77
How Real Estate May Be Acquired	p. 77
Deeds	p. 89
Summary	p. 96
Important Terms	p. 97
Open for Discussion	p. 98
Achievement Examination 4	p. 99
Encumbrances	p. 101
Encumbrances to Real Estate	p. 101
Liens	p. 102
Bankruptcy	p. 107
Easements	p. 108
Restrictions	p. 114
Encroachments	p. 118
Homesteads	p. 119
Summary	p. 121
Important Terms	p. 123
Open for Discussion	p. 123
Achievement Examination 5	p. 124
The Law of Agency	p. 127
The Concept of Agency	p. 127
How an Agency Relationship Is Created	p. 137
Agency Agreements	p. 139
Rights and Duties of Principal and Agent	p. 153
Termination of an Agency	p. 162
Summary	p. 162
Important Terms	p. 164
Open for Discussion	p. 165
Achievement Examination 6	p. 166
Contracts	p. 169
What Is a Contract?	p. 169
Elements of a Contract	p. 171
Discharging a Contract	p. 180
Real Estate Contracts	p. 184
Summary	p. 208
Important Terms	p. 209
Open for Discussion	p. 210
Achievement Examination 7	p. 211
Financing Real Estate	p. 213
Purposes of Financing Real Estate	p. 213
Cost of Credit	p. 215
Real Estate as Security	p. 219
Real Estate Lenders-The Primary Mortgage Market	p. 234
Federal Disclosure Requirements	p. 248
Other Loan Considerations	p. 252
Summary	p. 255
Important Terms	p. 256
Open for Discussion	p. 257
Achievement Examination 8	p. 258
Government-Sponsored and Other Financing	p. 261
Government-Sponsored Financing	p. 261
Creative Financing	p. 272
The Secondary Mortgage Market	p. 275
Summary	p. 277
Important Terms	p. 278
Open for Discussion	p. 278
Achievement Examination 9	p. 279
Escrow and Title Insurance	p. 281
Escrow	p. 281
Escrow Procedures	p. 287
Title Insurance	p. 301
Summary	p. 309
Important Terms	p. 310
Open for Discussion	p. 310
Achievement Examination 10	p. 311
Real Estate Taxation	p. 313
Property Taxation	p. 313
Federal Income Taxes	p. 327
State Income Tax	p. 332
Summary	p. 334
Important Terms	p. 336
Open for Discussion	p. 336
Achievement Examination 11	p. 337
Landlord and Tenant	p. 339
The Leasehold	p. 339
Mobile-Home Tenancies	p. 364
Other Lease Arangements	p. 366
Property Management	p. 367
Rent Control	p. 371
Summary	p. 372
Important Terms	p. 374
Open for Discussion	p. 374
Achievement Examination 12	p. 375
Real Estate Appraising	p. 377
Appraiser Licensing	p. 377
What Is a Real Estate Appraisal?	p. 379
The Appraisal Process	p. 384
Sales Comparison Approach	p. 387
Cost Approach	p. 390
Income Capitalization Approach	p. 396
Reconciliation and the Appraisal Report	p. 399
Summary	p. 404
Important Terms	p. 405
Open for Discussion	p. 405
Achievement Examination 13	p. 406
Residential Design and Construction	p. 409
Building Construction Standards	p. 409
Architecture	p. 413
Design and Function	p. 417
Construction Stages	p. 420
Manufactured Homes	p. 430
Summary	p. 432
Important Terms	p. 432
Open for Discussion	p. 433
Achievement Examination 14	p. 434
Government Control of Land Use	p. 437
Land-Use Regulations	p. 437
Subdivisions	p. 445
Fair Housing Laws	p. 453
Summary	p. 456
Important Terms	p. 457
Open for Discussion	p. 458
Achievement Examination 15	p. 459
Math Appendix	p. 461
Dollars and Decimals	p. 461
Interest and Loan Finance Problems	p. 464
Area	p. 466
Summary	p. 470
Math Achievement Examination	p. 471
Internet Appendix	p. 473
Glossary	p. 477
Answer Key	p. 497
Index	p. 517
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