DESCRIPTION OF COURSE

Presents fundamental concepts of real property law including the nature of real property, rights and duties of ownership, land use, voluntary and involuntary conveyances, and the recording of and searching for real estate documents emphasizing the paralegal's role in real property law.

COURSE OBJECTIVES    

Use terminology relating to real property law, including a basic introduction into oil & gas concepts; analyze sources relating to real property law; draft documents used in real property transactions; and analyze the ethical considerations of the paralegal regarding real property law.

PRACTICAL ASSIGNMENTS THAT DEVELOP PARALEGAL COMPETENCIES

The practical assignments involve the following:

1. The class receives a memorandum that includes a sample form for a title opinion used by attorneys providing title opinions to title companies, a title run with copies of the documents referenced in the title run and a second sample title opinion from the Matthew Bender - Texas Transaction Guide (provided to the Students through their Lexis account). The memorandum asks the students to review the title evidence and prepare a preliminary title opinion involving residential property in the form used by title insurance companies in the preparation and issuance of title insurance commitments.  After submitting the initial draft of the opinion, the title evidence is reviewed in class with specific discussion as to each defect in title reflected in the title evidence.  Students then prepare and submit a final title opinion for a grade, incorporating any changes that they feel are necessary after the class review.
    
2. The class receives a memorandum that includes details of a proposed sale and purchase of real property involving owner financing.  Students are to prepare a: i) real estate sales contract, ii) seller financing addendum, iii) lead based paint addendum and iv) property condition disclosure statement using forms promulgated by the Texas Real Estate Commission.  After submitting initial drafts, the class reviews a draft prepared by the instructor using the same forms with discussion of how the forms were assembled and why.  Students then prepare and submit a final set of documents for grading, incorporating any changes they feel are needed after the class review.
    
3. Using the contract prepared in the prior assignment, students receive a memorandum requesting that they prepare the following closing documents:

• Real Estate Lien Note;
• Special Warranty Deed with Vendor's Lien; and
• Deed of Trust.

They are to use the Texas State Bar Real Estate Forms Manual document generator that is available to them through the ProDocs subscription.  The specific forms are located under the Real Estate volume:

• Chapter 12 "Deeds, Bills of Sale and Other Transfers";
• Chapter 21 "Promissory Notes"; and
• Chapter 22 "Deeds of Trust.

After submitting initial drafts, the class reviews a draft prepared by the instructor using the same forms with discussion of how the forms were assembled and why.  Students then prepare and submit a final set of documents for grading, incorporating any changes they feel are needed after the class review.
 

PURPOSE AND GOAL OF COURSE

To gain an understanding of the basics of real property law and the Texas variants. Each student will be able to complete: 1) a simple title opinion, 2) a real estate sales contract and understand and explain its terms and conditions, and 3) a simple set of real estate documents for closing of a sale. 

PERFORMANCE/LEARNING OBJECTIVES (MINIMUM COMPETENCIES)

1. After studying the material presented in this course, the student will be able to do the following with a minimum 70% competency level:
2. Explain and UNDERSTAND the basic principles of the Law of Real Estate and other laws related to completing real estate related documents and to use these principles in the preparation of such documents and preparation for real estate related litigation.
3. Complete and UNDERSTAND a simple title opinion prepared from reviewing a title run using a standardized short from title company title opinion document set.
4. Complete and UNDERSTAND basic Real Estate Sales Contract using TREC forms.
5. Complete and UNDERSTAND a Warranty Deed with Vendor's Lien, Promissory Note and Deed of Trust using Texas Real Estate Forms Manual.
6. Issue spotting and avoidance of ethical conflicts arising in real estate document preparation.
7. State and UNDERSTAND the steps preparing for the final closing of a real estate transaction at a Title Company.
8. Demonstrate a proficiency in terminology relating to real property law, including a basic introduction into oil & gas concepts and identify sources of information relating to real property law.