
Principles of Real Estate Practice in Alabama
Description
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Principles of Real Estate Practice in Alabama contains the essentials of the national and Alabama real estate law, principles, and practices necessary for basic competence as a real estate professional and as mandated by Alabama license law. It is based on our highly successful and popular national publication, Principles of Real Estate Practice, which is in use in real estate schools nationwide.
The text is tailored to the needs of the pre-license student. It is designed to
- make it easy for students to learn the material and pass their real estate exam
- prepare students for numerous career applications
- stress practical, rather than theoretical, skills and knowledge.
Principles of Real Estate Practice in Alabama is streamlined, direct and to-the-point. It includes multiple learning reinforcements. It has a student-oriented organization, both within each chapter and from chapter to chapter. Its examples and exercises are grounded in the authors' many years in real estate education.
Table of Contents
- The Real Estate Business
- Rights in Real Estate
- Interests and Estates
- Ownership
- Encumbrances and Liens
- Transferring and Recording Title to Real Estate
- Leasing Essentials
- Land Use Planning and Control
- Legal Descriptions
- Fundamentals of Contract Law
- National Agency
- Listing Agreements: An Overview
- General Brokerage Practices
- Overview of Conveyance Contracts
- Real Estate Market Economics
- Appraising and Estimating Market Value
- Real Estate Finance
- Real Estate Investment
- Real Estate Taxation
- Professional Practices
- Closings
- Risk Management
- Property Management
- Real Estate Math
- Alabama Regulatory Environment
- Alabama Licensing Regulation
- Alabama Brokerage Regulation
- Alabama Agency
- Alabama License Law Violations
- Glossary of General Real Estate Terms
- Index
For Alabama students looking for an exam prep book to complement Principles of Real Estate Practice in Alabama, we have Alabama Real Estate License Exam Prep
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Content
- Intro
- PREFACE
- 1: The Real Estate Business
- REAL ESTATE PROFESSIONS
- REAL ESTATE BROKERAGE
- PROFESSIONAL ORGANIZATIONS
- REGULATION AND LICENSING
- 2: Rights in Real Estate
- REAL ESTATE AS PROPERTY
- REAL VERSUS PERSONAL PROPERTY
- REGULATION OF REAL PROPERTY INTERESTS
- 3: Interests and Estates
- INTERESTS AND ESTATES IN LAND
- FREEHOLD ESTATES
- LEASEHOLD ESTATES
- 4: Ownership
- SOLE OWNERSHIP
- CO-OWNERSHIP
- ESTATES IN TRUST
- OWNERSHIP BY BUSINESS ENTITIES
- CONDOMINIUMS
- COOPERATIVES
- TIME-SHARES
- 5: Encumbrances and Liens
- ENCUMBRANCES
- EASEMENTS
- ENCROACHMENTS
- LICENSES
- DEED RESTRICTIONS
- LIENS
- FORECLOSURE
- 6: Transferring and Recording Title To Real Estate
- TITLE TO REAL ESTATE
- DEEDS OF CONVEYANCE
- WILLS
- INVOLUNTARY TITLE TRANSFER
- TITLE RECORDS
- 7: Leasing Essentials
- THE LEASE CONTRACT
- TYPES OF LEASE
- DEFAULT AND TERMINATION
- UNIFORM RESIDENTIAL LANDLORD AND TENANT ACT (URLTA)
- 8: Land Use Planning And Control
- REAL ESTATE PLANNING
- PUBLIC LAND USE CONTROL
- PRIVATE LAND USE CONTROL
- ENVIRONMENTAL CONTROLS
- 9: Legal Descriptions
- METHODS OF LEGAL DESCRIPTION
- METES AND BOUNDS
- THE RECTANGULAR SURVEY SYSTEM
- RECORDED PLAT METHOD
- DESCRIBING ELEVATION
- 10: Fundamentals of Contract Law
- CONTRACT VALIDITY AND ENFORCEABILITY
- CONTRACT CREATION
- CLASSIFICATIONS OF CONTRACTS
- CONTRACT TERMINATION
- 11: National Agency
- THE AGENCY RELATIONSHIP
- FIDUCIARY DUTIES
- FORMS OF REAL ESTATE AGENCY
- AGENCY DISCLOSURE RULES
- 12: Listing Agreements: An Overview
- REVIEW OF LEGAL FOUNDATIONS
- TYPES OF LISTING AGREEMENT
- FULFILLMENT AND TERMINATION
- LISTING AGREEMENT CLAUSES
- 13: General Brokerage Practices
- FUNCTION AND ORGANIZATION
- THE BROKER-SALESPERSON RELATIONSHIP
- OPERATING A REAL ESTATE BROKERAGE
- BUSINESS BROKERAGE
- 14: Overview of Conveyance Contracts
- CONTRACT FOR SALE
- SALE CONTRACT PROVISIONS
- OPTION-TO-BUY CONTRACT
- CONTRACT FOR DEED
- 15: Real Estate Market Economics
- THE MARKET SYSTEM
- REAL ESTATE MARKET DYNAMICS
- 16: Appraising and Estimating Market Value
- REAL ESTATE VALUE
- APPRAISING MARKET VALUE
- THE SALES COMPARISON APPROACH
- THE COST APPROACH
- THE INCOME CAPITALIZATION APPROACH
- REGULATION OF APPRAISAL PRACTICE
- 17: Real Estate Finance
- ANATOMY OF MORTGAGE LENDING
- INITIATING A MORTGAGE LOAN
- QUALIFYING FOR A MORTGAGE LOAN
- CLOSING A LOAN
- LAWS AFFECTING MORTGAGE LENDING
- THE MORTGAGE MARKET
- TYPES OF REAL ESTATE LOANS
- 18: Real Estate Investment
- INVESTMENT FUNDAMENTALS
- REAL ESTATE AS AN INVESTMENT
- REAL ESTATE INVESTMENT ENTITIES
- TAXATION OF REAL ESTATE INVESTMENTS
- INVESTMENT ANALYSIS OF A RESIDENCE
- INVESTMENT ANALYSIS OF AN INCOME PROPERTY
- 19: Real Estate Taxation
- TAXING ENTITIES
- AD VALOREM TAXATION
- SPECIAL ASSESSMENTS
- TAX LIEN ENFORCEMENT
- 20: Professional Practices
- FAIR HOUSING LAWS
- PROPERTY DISCLOSURES
- OTHER PROFESSIONAL PRACTICES
- 21: Closings
- THE CLOSING EVENT
- REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA)
- FINANCIAL SETTLEMENT OF THE TRANSACTION
- COMPUTING PRORATIONS
- TAXES DUE AT CLOSING
- CLOSING COST ITEMIZATION: CASE ILLUSTRATION
- TILA/RESPA INTEGRATED DISCLOSURE RULE
- REPORTING REQUIREMENTS
- 22: Risk Management
- RISK MANAGEMENT STRATEGIES
- RISK MANAGEMENT PROCEDURES
- PRIMARY AREAS OF RISK
- 23: Property Management
- MANAGEMENT FUNCTIONS
- THE MANAGEMENT AGREEMENT
- LEASING CONSIDERATIONS
- THE MANAGEMENT BUSINESS
- 24: Real Estate Mathematics
- BASIC FORMULAS AND FUNCTIONS
- REAL ESTATE APPLICATIONS
- REAL ESTATE MATHEMATICS: ANSWER KEY
- 25: The Alabama Regulatory Environment
- THE REAL ESTATE COMMISSION
- DISCIPLINARY ACTIONS AND PROCESS
- RECOVERY FUND
- 26: Alabama Licensing Regulation
- LICENSING REQUIREMENTS
- LICENSE STATUS
- 27: Alabama Brokerage Regulation
- BROKER AND COMPANY LICENSES
- TRUST FUNDS
- ESTIMATED CLOSING STATEMENT
- ADVERTISING
- RECORDKEEPING
- 28: Alabama Agency
- RECAD
- BROKERAGE DISCLOSURE
- MISREPRESENTATION
- LISTINGS
- 29: Alabama License Law Violations
- GENERAL ISSUES
- HONESTY AND GOOD FAITH ISSUES
- ACCOUNTABILITY AND REPORTING ISSUES
- REPRESENTATION ISSUES
- Chapter Tests
- Chapter Tests Answer Key
- Practice Examination
- Practice Examination Answer Key
- Glossary of General Real Estate Terms
- Index
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