Real Estate Fundamentals is a basic course in the practice of real estate in Pennsylvania. Emphasis is on the fundamental principles and concepts of realty property rights and the practices, methods, and laws governing the conveyance of these rights. This course qualifies for the Pennsylvania Real Estate Salesperson examination.
The course is designed to acquaint the student with the basic techniques, procedures, regulations, and ethics involved in a real estate transaction along with a working knowledge of the necessary forms and documents. This course qualifies for the Pennsylvania Real Estate Salesperson examination.
Instruction in ownership, contractual limitations, property right protection, reality and personality fixtures; fee simple, life estates and remainder interests, tenancy, partnership and corporate realty; liens, such as mortgages, judgments and attachments, contracts, and their complexities, deeds, bonds and mortgages, leases, transfer and closing of title, and conveyancing.
Prerequisite: REAL101 and REAL102; or LAWS100 or LAWS110 or permission of the Department of Business Studies
This course provides an in depth review and understanding of real estate related contracts and the drafting of such contracts and other documentation, including leases and condominium documents. Also reviews zoning matters, judgments and liens, mortgages and title insurance, and the roles of fiduciaries, brokers, and title agents.