Podcast
Questions and Answers
Local laws that control land use are known as subdivision ______ and zoning laws.
Local laws that control land use are known as subdivision ______ and zoning laws.
regulations
A private securities exchange, that is NOT visible to the public, is commonly referred to as a '______ ______'.
A private securities exchange, that is NOT visible to the public, is commonly referred to as a '______ ______'.
dark pool
The environmental law, ______, addresses hazardous waste sites and is also known as the Superfund law.
The environmental law, ______, addresses hazardous waste sites and is also known as the Superfund law.
CERCLA
In contract law, the '______ ______ ______' dictates that acceptance of an offer must precisely mirror the terms of the original offer; any variation constitutes a counteroffer.
In contract law, the '______ ______ ______' dictates that acceptance of an offer must precisely mirror the terms of the original offer; any variation constitutes a counteroffer.
The ______ ______ brought the feudal system to England, which shaped modern property law.
The ______ ______ brought the feudal system to England, which shaped modern property law.
The Habendum Clause in a deed defines the ______ of ownership, specifying what rights are being transferred to the buyer, such as 'to have and to hold'.
The Habendum Clause in a deed defines the ______ of ownership, specifying what rights are being transferred to the buyer, such as 'to have and to hold'.
Unlike a standard fixture, a trade fixture such as a restaurant oven, is installed by a ______ on a property and can typically be removed by them when they vacate the premises.
Unlike a standard fixture, a trade fixture such as a restaurant oven, is installed by a ______ on a property and can typically be removed by them when they vacate the premises.
The Mirror Image Rule requires that for acceptance, the terms of the acceptance must exactly match the terms of the ______, without any changes or conditions.
The Mirror Image Rule requires that for acceptance, the terms of the acceptance must exactly match the terms of the ______, without any changes or conditions.
Parol Evidence Rule generally prevents verbal agreements that contradict the terms of a ______ contract from being introduced as evidence in court.
Parol Evidence Rule generally prevents verbal agreements that contradict the terms of a ______ contract from being introduced as evidence in court.
A document representing a promise to pay is known as ______.
A document representing a promise to pay is known as ______.
Mezzanine Financing is a hybrid financing approach that combines aspects of debt and ______, often used when companies seek funds without diluting equity too much.
Mezzanine Financing is a hybrid financing approach that combines aspects of debt and ______, often used when companies seek funds without diluting equity too much.
The Net Interest Margin (NIM) is a key indicator of a lender's ______, calculated as the difference between the interest income generated from loans and the interest paid out on deposits, relative to the assets.
The Net Interest Margin (NIM) is a key indicator of a lender's ______, calculated as the difference between the interest income generated from loans and the interest paid out on deposits, relative to the assets.
If a condition on a property is violated, the property rights MAY revert to the original owner because of ______.
If a condition on a property is violated, the property rights MAY revert to the original owner because of ______.
Flashcards
Subdivision Regulations & Zoning
Subdivision Regulations & Zoning
Local ordinances that govern how land can be used, divided, and developed within a municipality.
Antitrust Laws
Antitrust Laws
Federal laws designed to prevent monopolies, promote competition, and protect consumers from unfair business practices.
Securities
Securities
Investment instruments representing either ownership (stocks) or debt (bonds), traded in financial markets.
Mirror Image Rule
Mirror Image Rule
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CERCLA
CERCLA
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Deed Delivery
Deed Delivery
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Habendum Clause
Habendum Clause
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Fixture
Fixture
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Mutual Assent
Mutual Assent
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Specificity
Specificity
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Legality
Legality
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Promissory Note
Promissory Note
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Net Interest Margin (NIM)
Net Interest Margin (NIM)
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Study Notes
- Real Estate Law Study Guide
Property Ownership & Transfer
- Deed Delivery: A deed is void if it has not been delivered.
- Grantor Clause: A standard phrase used by lawyers in deeds, such as "Grantor hereby grants, bargains, sells, and conveys..."
- Habendum Clause: Defines the extent of ownership, for example, "to have and to hold”.
- Possibility of Reverter: Ownership may revert to the original owner if a condition on the property is violated.
- Right of Reservation: An original owner retains certain rights when transferring property.
Fixtures & Trade Fixtures
- Fixture: An item attached to real property that becomes part of it, such as a built-in bookshelf.
- Trade Fixture: A business-installed fixture, like a restaurant oven, that can be removed by the tenant.
- Fixture Filing: A legal filing that secures an interest in fixtures.
Contracts & Agreements
- Mutual Assent: Both parties must agree, reflecting a "meeting of the minds”.
- Consideration: A contract requires an exchange of something of value, such as a deposit.
- Privity of Contract: Establishes a legal relationship between contracting parties.
- Specificity: Contracts must be detailed to be enforceable.
- Capacity: Parties entering a contract must be legally capable, i.e., not minors or mentally incompetent.
- Offer & Acceptance: One party's offer must be accepted exactly as presented by the other party (Mirror Image Rule).
- Legality: The contract's subject must be lawful.
Types of Contracts
- Soft Contract: More flexible and applicable before a deadline.
- Hard Contract: Legally binding after a deadline.
- Conditional Proceeding: Dependent on certain conditions.
Statute of Frauds (SOF)
- Certain contracts, such as real estate sales and long-term agreements, must be in writing.
- Parol Evidence Rule: Verbal agreements cannot contradict a written contract.
- Memorialization: Formalizing a contract in writing.
Real Estate Finance & Securities
- Promissory Note: Represents a promise to pay a value.
- Collateral: Property pledged as security for a loan.
- Mezzanine Financing: A hybrid of debt and equity financing.
- Foreclosure: Does not require a deputy; exclusion sale does occur.
Lending & Credit Factors
- Ability to Pay: Based on borrower's income and financial stability.
- Willingness to Pay: Based on borrower's credit history and behavior.
- Net Interest Margin (NIM): Lender's profit margin from interest.
Regulations & Legal Principles
- Regulation of Professions: Governs surveyors, architects, engineers, and related professions.
- Subdivision Regulations & Zoning: Local laws control land use.
- Enrolled Agent (EA): A tax advisor authorized to represent taxpayers before the IRS.
Antitrust & Securities
- Antitrust Laws: Prevent monopolies and promote fair competition.
- Securities: Investment instruments like stocks and bonds.
- Dark Pool: Private securities exchange not visible to the public.
Environmental & Land Use Laws
- CERCLA deals with hazardous waste sites (Superfund law).
- RCRA governs hazardous waste disposal.
- Brownfield Legislation encourages redevelopment of contaminated properties.
- Rent Roll is a list of tenants and rental income.
Miscellaneous Legal Doctrines
- Mirror Image Rule: Contract acceptance must exactly match the offer.
- Assent: Agreeing mentally.
- Consent: Explicit permission given.
- 1066 Norman Conquest: Introduced the feudal system to England, shaping modern property law where the Crown owned all land.
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Description
Explore real estate law covering deed delivery, ownership transfer, fixtures, and contract agreements. Key concepts include grantor/habendum clauses, reversion possibilities, fixture filings, mutual assent, and contractual considerations. Understand property rights and obligations.
