Real Estate Principles 
Syllabus
BPA108/RST363
Your pot of gold at the end of the Rainbow!
 

Instructor Information
Course Information & Student Evaluation
Learning Assistance Websites
WebCT Dictionary

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 The following information is found on the myaacc website.
Every student has access to this site.
Once you have accessed the website click on student services.
It is the responsibility of each student to review the information on this website.
Every student is required to read the highlighted policies.

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Syllabus

The purpose of a syllabus is to inform students about the course requirements, college policies, and faculty expectations for the course. Therefore, it is expected that students will consult the syllabus frequently.  Should a student have a question regarding the course, its requirements, due dates, and instructor policies the answer can be found in the syllabus.  If you cannot find the answer in the syllabus please consult the instructor. 
PLEASE READ THE SYLLABUS THOROUGHLY AND COMPLETELY.

 

Course Requirements

  • Complete the WebCT orientation.

  • Follow all college policies. (Integrity)

  • Read and study the material in all of the Assignments as listed in the Schedule.

  • Attend all classes.

  • Take notes and review all notes prior to each class.

  • Study for the weekly quiz.

  • Take a weekly quiz in WebCT.

  • Take the Midterm Examination in WebCT.

  • Take the Final Examination using WebCT in class.

  • Obtain the proper amount of points as listed in the Student Evaluation Criteria.

 

Books
Required:

Modern Real Estate Practice, 15th ed.
Galaty, Allaway, & Kyle
Dearborn Publishing Company, 2000
Required:

Maryland Real Estate: Practice & Law, 10th ed.
Donald A. White
Dearborn Publishing Company, 2002
Required: The following information can be obtained online.  Therefore, you need not purchase it.  Different parts of Title 17 and the Regulations will be assigned each week.  You may download as needed. 
Title 17, Business Occupations and Professions 
Annotated Code of Maryland, Real Estate Brokers
Regulations Online
Optional:

Study Guide for Modern Real Estate Practice, 15th ed.
Galaty, Allaway, & Kyle
Real Estate Education Company, 2000
*Available in Print and CD-Rom
Available:

Key Point Exam Review for Modern Real Estate Practice, 15th ed.
Audio Tapes
Galaty, Allaway, & Kyle
Real Estate Education Company, 2000

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Course Goals

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Course Objectives

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Course Schedule

DO NOT rely on this table.

These dates are only tentative.
The actual dates for covering the topics and taking tests will be discussed in class.
You must attend class to know the exact assignments and dates for your class.

Assignments

Class
Date

 Material is covered in class on the class date specified.
Students must read the material prior to that date.		 Chapter

1/28/2002

 Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
Introduction to the Real Estate Business 1
Concepts of Home Ownership 3
Real Property and the Law
Land, Real Estate and Real Property
Real Property and Personal Property 
Ownership of Real Property
Characteristics of Real Estate
Law Affecting Real Estate 		2

Handouts
The following handouts are available online. 
Click on the handout to view and print it.
Property General Handout
Ownership Handout
Physical and Economic Characteristics  Handout
Fixtures Handout
Ownership Rights Handout

PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.

Introduction to Real Estate Principles

Introduction to Property and Fixtures

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.
Take 5 Point Quiz Week One prior to next class. WebCT

2/4/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.

 

Forms of Real Estate Ownership p.113-119
Forms of Ownership
Ownership in Severalty
Concurrent Ownership		 8
  How Ownership is Held - Workbook p. 76-77
Overview
Co ownership		 6
 

Optional Websites
 

Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  Types of Ownership Handout
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
  Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.
  Take 5 Point Quiz Week One prior to next class. WebCT

2/4/2002
2/11/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Legal Descriptions
Describing Land
Methods of Describing Real Estate
Preparing a Survey
Measuring Elevations
Land Units and Measurements 		9

 

 Legal Descriptions - Workbook
Overview
Examples of Legal Descriptions used in Contracts
Survey Markers
Location Drawings and Boundary Surveys
Subdivision Plats		 7
  Optional Websites
United States Geological Survey
Bureau of Land Management
Maryland Resources
Maryland Board for Professional Land Surveyors
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  Primary Legal Descriptions Handout
  Secondary Legal Descriptions Handout
  Township Lines Handout
  Real Property Rights - Surface, air Handout
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.
  Take 10 Point Quiz Chapter 9 prior to next class. WebCT

2/11/2002
2/18/2002

 Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Interests in Real Estate
Limitations on the Rights of Ownership
Government Powers
Estates in land
Encumbrances
Water Rights 		7

 

 Interests in Real Estate - Workbook
Overview
Easement by prescription and Adverse Possession Riparian Rights
Agricultural Land Preservation Easement		 5
  Optional Websites
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  Estates in Land Handout
  Rights in Another's Land Handout
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 

Estates in Land
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.
2/11/2002 Take 10 Point Quiz Chapter 7 prior to next class. WebCT
2/18/2002 Take 10 Point Quiz Chapter 7 easements, etc. prior to next class. WebCT

2/18/2002
2/25/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Forms of Real Estate Ownership - Continued
Co-ownership and Trusts
Ownership of Real Estate by Business organizations Condominiums, Cooperatives and Time-Shares		 8

 

 How Ownership is Held - Workbook p. 77 - end
Condominiums
Time-share Ownership
Maryland Cooperative Housing Corporation Act
Maryland Homeowner's Association Act
Notice to Tenants - Montgomery County
Cancellation Periods 		6
 

Optional Websites
Maryland Law Library
Here you will be able to search the Real Property volume
of the Maryland Code for the Law on
Condominiums, Title 11 
Planned Unit Developments, Title 11B
Co-operatives
Timeshares, Title 11A
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  Horizontal Property  Handout
  Condominiums, PUDS, & Co-operatives Handout
  Other Forms of Ownership- Business Handout
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 

Condominiums, PUD's & Co-operatives
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.

3/4/2002

Take 15 Point Quiz Chapter 8 Condo's, PUD's, Coop's, etc.  prior to next class. WebCT

2/25/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
2/25/2002 Taxes
Liens
Real Estate Tax Liens
Other Liens on Real Property		 10
  Real Estate Taxes and Other Liens- Maryland
Overview
Assessment
Payment
Property Tax Relief
Transfer and Recordation Taxes
Corporate Franchise Tax
Property Tax Assessments Agricultural Use
Delinquency and Redemption
Liens
8
  Optional Websites
 Maryland State Department of Taxation
A Homeowner's Guide to Property Taxes and Assessments 
Property Owner's Bill of Rights 
Questions & Answers About Real Property Assessments 
The Assessment Appeal Process 
Area Sales Analysis 
Information on "semiannual" real property tax payments 
Information on full value (100%) assessments 
Find your account information using your assessment notice 
Local Tax Rates 
Constant Yield Tax Rates for 2000 
Maryland Assessment Manual 
Optional Websites
 Search Real Property Database
Transfer Tax
Recordation Tax
Agricultural Transfer Tax
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
 

PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.
3/4/2002 Take 5 Point Quiz Chapter 10 Taxes prior to next class. WebCT
3/4/2002 Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Zoning (Land Use Controls)
Land-Use Controls
The Comprehensive Plan
Zoning
Building Codes and Certificates of Occupancy
Subdivision
Private Land-use Controls
Regulation of Land Sales		 19
  Optional Websites
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.

3/11/2002

Take 5  Point Chapter 19 Quiz  prior to next class. WebCT

3/4/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Transfer of Title
Title
Voluntary Alienation
Involuntary Alienation
Transfer of a Deceased Persons Property		 12
  Transfer of Title - Maryland 
Transfer by Descent
Transfer of Title by Operation of Law
Transfer of Title by Will
Transfer by Deed
Uniform Transfer to Minors Act		 10
  Optional Websites
 Transfer Tax
Recordation Tax
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
  Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.
3/11/2002 Take 20  Point Title Transfer Chapter 12 quiz prior to next class. WebCT
3/11/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Title Records
Public Records
Proof of Ownership
Uniform Commercial Code 		13
  Title Records- Maryland
 11
 

Optional Websites
 Search Real Property Database

 

Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.
 
3/11/2002
3/18/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Real Estate Contracts
Contract Law
Discharge of Contracts
Contracts used in the Real Estate Business
Discharge of Contracts
Contracts used in the Real Estate Business		 11
 
  Optional Websites
 Maryland Real Estate Commission - Disclosure/Disclaimer Statement
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
 

PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
  Real Estate Contracts
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.

3/18/2002

Take Quiz Chapter 11 part 1 quiz prior to next class. WebCT

4/1/2002

Take Quiz Chapter 11 part 2 quiz prior to next class. WebCT
Midterm Examination
Must be taken by class time 4/1/2002.
WebCT
 
  Leases
Leasing Real Estate
Leasehold Estates
Lease Agreements
Types of Leases
Discharge of Leases 		15
 
 

Optional Websites

 
 

Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
 

Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
 

Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.

4/8/2002

Take Quiz Chapter 15  quiz prior to next class. WebCT
 
 
 
 
4/8/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Environmental Issues and the Real Estate Transaction 21

 
  Optional Websites
 www.buildingspecs.com
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
 
 

PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
  Chapter Quizzes
The following quiz is to be taken on or before the next class meeting.  Take it early as there are NO extensions.

4/15/2002

Take 15  Point Environmental Quiz Chapter 21 prior to next class. WebCT
4/15/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Agency
Introduction to the Law of Agency
Law of Agency
Types of Agency Relationships
Customer-Level Service		 4
  Listing Agreements and Buyer Representation
Listing Agreements
Termination of Listings
The Listing Process
The Listing Contract Form
Buyer Agency Agreements 		6
  Real Estate Brokerage
The History of Brokerage
Real Estate License Laws
Real Estate Brokerage
Antitrust Laws		 5
 
 
 
4/15/2002
4/22/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
 

Maryland License Law
  Required Website
Read all of the information on this website.  Read all of the hyperlinks.
Maryland License Law
Maryland Code of Ethics
Maryland Regulations
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  Real Estate Commission
License Required
License Not Required
Licensure
Agency
Prohibited Acts and Penalties
Guaranty Fund
Trust Money
Splitting Fees
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
  Maryland Agency 
  Required Web Material
Basic Facts about Real Estate Licenses
Maryland Real Estate Commission 		Online
  Take Quiz Chapters 4 & 5 prior to next class. WebCT
 
 
 
 
4/22/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
 
 
 
  Online Material
 The following material is an online presentation. 
Click on the title to view the presentation.
The material in the presentation will be covered in class.		 Online
  Mallick's Website
Fair Housing and Ethical Practices 		20
  Optional Websites
 Civil Rights Act of 1866
Civil Rights Act of 1968 as amended in 1988
Annotated Code of Maryland 49B
Use the dropdown list to go to Article 49B
then insert 19 into the box below.
Fair Housing Advocate
Maryland Commission on Human Relations
Greater Baltimore Community Housing Resource Board
U. S. Department of HUD - HUD User
National Organization on Disability		 MCHR Logo
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  Take 15  Point Fair Housing Quiz Chapter 7 prior to next class. WebCT
4/29/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
  Appraising 18
  Optional Websites
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
 
  Take 15  Point Appraising Quiz Chapter 19 prior to next class. WebCT
   
   
   
   
   
   
   
   
   
4/29/2002

Reading Assignments
The following chapters are covered on the date specified please read them in advance and if you have purchased the workbook complete the corresponding chapters in the workbook.
   
   
   
  Real Estate Financing: Principles
Mortgage Law
Security and Debt
Provisions of the Note
Provisions of the Mortgage Document or Deed of Trust
Provisions of Land Contracts
Foreclosure		 14
  Real Estate Financing: Practices
Introduction to the Real Estate Financing Market
Financing Techniques
Straight Loans
Amortized Loans
Loan Programs
Other Financing Techniques
Financing Legislation
Computerized Loan Origination and Automated Underwriting		 15
  Optional Websites
  Handouts
The following handouts are available online. 
Click on the handout to view and print it.
  PowerPoint Presentations
The following Presentations are available online. 
Click on the PowerPoint Presentation to view.
  Take Quiz Week Twelve Prior to next class. WebCT
  Time Permitting
  Closing the Real Estate Transaction 22
  Optional Websites
 RESPA Main Page
Real Estate Settlement Procedures Act 
 HUD's Settlement Website
  Property Management
The Property Manager
Professional Associations
Management Functions
Risk Management		 17
  Take Quiz Week Fourteen Prior to next class. WebCT
  **Final Examination** in class

Cumulative

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Homework
Read each chapter in advance of the class for which it is assigned.

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Handouts
Handouts (including extra credit) given in class will only be brought to class one (1) time.   If you are absent please DO NOT ask me for handouts in the next class.
I will not have them with me.
gold bullet button.gif (842 bytes) Make sure you know one (1) or two (2) people in the class so that you can pick up the handouts for each other when one (1) of you misses the class
gold bullet button.gif (842 bytes) Visit my office in the Florestano Building Room 106 during scheduled office hours to pick up a copy of  the missed handout.
gold bullet button.gif (842 bytes) Visit this Website to see if the handout has been posted.*

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Course Attendance

Under state law a student may not be absent from class.
There are no exceptions.

If a student is unavoidably absent for a class he/she may make up the class in a Business Law class, Real Estate Continuing Education class (student must pay tuition for this class) or an Appraisal class.  When attending another class you must stay for the entire class or until the break.  Under NO circumstances may you leave the class while the instructor is teaching.  The instructors allow this practice as a convenience to you and you may NOT in any manner cause a disruption or this make-up privilege will be terminated immediately.

It is your responsibility to determine what BPA153 Business Law  and appraisal classes are running (see AACC print Schedule of classes or website), where they are located, make your presence known to the instructor, ask permission and to provide a prewritten note including
Your Name
Instructor Name
Name of the Class
Date
Time
Amount of Time spent in the class and
have it signed by the instructor after class.

Continuing Education Classes (Student must pay tuition)
You may take one or more continuing education classes to make up the equivalent of one class.  You may take them at AACC  (see AACC print Schedule of classes or website) or through the Anne Arundel Association of Realtors (call 410-544-4554.)  In either event you will receive a certificate of attendance which must be submitted to receive credit for the course.

 Students leaving class after the break will be responsible for the time missed.

NO student will be awarded a passing grade unless he/she has met the attendance requirements.

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Audit
You may not audit this class and receive a real estate license.

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Noncredit
Same requirements as credit.   Must earn "C" to receive certificate.

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Darlene Mallick © 2001
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