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| Course: REA179 First Term: 2021 Spring
Final Term: Current
Final Term: 9999
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Lecture 3.0 Credit(s) 3.0 Period(s) 3.0 Load
Credit(s) Period(s)
Load
Subject Type: OccupationalLoad Formula: S - Standard Load |
| MCCCD Official Course Competencies | |||
|---|---|---|---|
| 1. Define the term real estate. (I)
2. Describe the Arizona Real Estate Code and Rules and Regulations as found in Title 32, Chapter 20, Arizona Revised Statutes. (I) 3. Review general licensing requirements. (II) 4. List ethical standards of practice of the real estate industry. (II) 5. Describe principle-agent relationships. (III) 6. List the elements of valid contracts. (IV) 7. Identify the major sections of a listing agreement. (IV) 8. Identify the major sections of a sales contract. (IV) 9. Define the physical and economic characteristics of land. (V) 10. Describe the bundle of rights in real estate. (V) 11. Describe the common forms of ownership in Arizona. (V) 12. Compare and contrast individual and governmental rights and legal interest in real property. (V) 13. Calculate rates of return on investment. (VI) 14. Describe various water rights and their transfer in Arizona. (VII) 15. Describe the effects of toxic waste and environmental hazards on real estate activities. (VIII) 16. Locate a parcel of real estate by its legal description. (IX) 17. Review components of land development and zoning. (IX) 18. Compare and contrast major specific and general liens. (IX) 19. Describe the title transfer process. (X) 20. Describe the procedures for closing escrow. (X) 21. Calculate closing costs and prorations. (X) | |||
| MCCCD Official Course Competencies must be coordinated with the content outline so that each major point in the outline serves one or more competencies. MCCCD faculty retains authority in determining the pedagogical approach, methodology, content sequencing, and assessment metrics for student work. Please see individual course syllabi for additional information, including specific course requirements. | |||
| MCCCD Official Course Outline | |||
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I. Real Estate
A. Definition B. Licensing C. Law 1. Sources 2. Types 3. Application II. Commissioner`s rules A. Licensing B. Ethics and professional relationships 1. Standards of practice 2. Codes of ethics C. Professional organization III. Agency relationships A. Principle-agent definition B. Fiduciary responsibility C. Obligation to parties IV. Contracts A. Elements of a valid contract B. Remedies for breach of contract C. Major provisions 1. Listing agreements 2. Sales contracts V. Property A. Characteristics 1. Physical 2. Economic B. Rights and interests 1. Governmental 2. Individual 3. Bundle of rights C. Ownership 1. Severalty 2. Joint ownership 3. Forms of co-ownership VI. Real estate economics A. Economic influences B. Real estate cycles C. Investment 1. Methods 2. Mathematics VII. Water rights A. Riparian, accretion, and erosion B. Groundwater VIII. Environmental law A. Toxic wastes and environmental hazards B. Regulators C. Warranties and disclosures IX. Land A. Legal descriptions 1. Government rectangular survey 2. Metes and bounds 3. Lot, block, and tract B. State trust land C. Development D. Zoning E. Encumbrances 1. Monetary 2. Non-monetary X. Escrow and title insurance A. Title 1. Principles 2. Transfers 3. Definitions 4. Deeds B. Escrow procedures 1. Abstracts and title reports 2. Title insurance 3. Closing 4. Prorations and closing costs 5. Recording | |||
MCCCD Governing Board Approval Date: November 24, 2020 | |||