DRAFTING:REAL ESTATE TRANS. (PROPERTY - 1050)
Open to Seniors Only. This course is a transaction-oriented course dealing with modern real estate problems. The major work product is a series of drafted agreements. Before undertaking actual drafting, students analyze a hypothetical transaction on an integrated functional basis. This involves primarily the interplay of Property, Partnership, Corporation and Tax rules, and how to use them to achieve maximum objectives. Pertinent background reading is assigned in connection with each transaction. Preliminary analysis leads to particular structuring or restructuring of a transaction and provides the basis for the drafting of the appropriate instruments. Grades are based upon class assignments and a final examination. This course does not satisfy the Advanced Practice Writing Requirement.
PROPERTY (PROPERTY - 1080)
This course analyzes the various types of property interests, real and personal, recognized under U.S. law, the rights and obligations of holders of property interests, and the legal bases and public policies that lead to recognition of property interests, rights and liabilities. The course may include a discussion of property rights based on possession, including adverse possession, labor, gift and purchase, as well as estates in land, concurrent interests, landlord-tenant law, and land use regulations. Grades are based upon a final examination.
TRUSTS AND ESTATES (TRUSTS AND ESTATES - 1040)
This course treats intestate succession, wills, trusts, and future interests as integrated elements in the planning of family property settlements. Income, estate and gift tax implications of various arrangements are discussed, to the extent necessary to illuminate the nontax material. Fiduciary and investment aspects of the law of trusts are analyzed, as are the traditional construction, class gift and perpetuity problem areas. Grades are based upon a final examination.