Principles of Real Estate Practice in Virginia
1st Edition
Published on 19. April 2021
594 pages
978-1-0879-6307-5 (ISBN)
Description
Principles of Real Estate Practice in Virginia contains the essentials of the national and Virginia real estate law, principles, and practices necessary for basic competence as a real estate professional and as mandated by Virginia 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.
- 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
- Overview of Licensing and Regulation
- Risk Management
- Property Management
- Virginia Licensing Regulation
- Virginia Brokerage Regulation & Disclosures
- Virginia Agency and Agency Disclosure
- Virginia Sales Contracts
- Virginia Fair Housing and Other Virginia Laws
- Glossary of Residential Style and Construction Terms
- Glossary of General Real Estate Terms
- Index
More details
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 Practices
- 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
- SYNDICATIONS AND SECURITIES 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: Overview of Licensing and Regulation
- STATE LICENSE LAW
- OBTAINING A REAL ESTATE LICENSE
- LICENSE REGULATION
- 23: Risk Management
- RISK MANAGEMENT STRATEGIES
- RISK MANAGEMENT PROCEDURES
- PRIMARY AREAS OF RISK
- 24: Property Management
- MANAGEMENT FUNCTIONS
- THE MANAGEMENT AGREEMENT
- LEASING CONSIDERATIONS
- THE MANAGEMENT BUSINESS
- 25: Virginia Licensing Regulation
- CODE OF VIRGINIA
- VIRGINIA ADMINISTRATIVE CODE
- THE REAL ESTATE BOARD
- CODE VIOLATIONS
- DISCIPLINARY PROCEDURES
- ACTIVITIES REQUIRING A LICENSE
- LICENSE TYPES AND REQUIREMENTS
- LICENSE MAINTENANCE
- 26: Virginia Brokerage Regulation & Disclosures
- BROKER-SALESPERSON RELATIONSHIP
- BROKER'S SUPERVISORY REQUIREMENTS
- DEATH OR DISABILITY OF PRINCIPAL BROKER
- ESCROW ACCOUNTS
- PLACE OF BUSINESS
- RECORDKEEPING REQUIREMENTS
- ADVERTISING
- NON-AGENCY DISCLOSURE REQUIREMENTS
- 27: Virginia Agency and Agency Disclosure
- VIRGINIA AGENCY-RELATED DEFINITIONS
- VIRGINIA AGENCY/BROKERAGE RELATIONSHIPS
- VIRGINIA AGENCY DISCLOSURE REQUIREMENTS
- VIRGINIA AGENCY DUTIES AND STATUTORY DUTIES
- 28: Virginia Sales Contracts
- CONTRACT FORM
- CONTRACTING PROCEDURE
- BUYER PROTECTIONS
- 29: Virginia Fair Housing and Other Virginia Laws
- VIRGINIA FAIR HOUSING LAW AND RELATED REGULATIONS
- VIRGINIA RESIDENTIAL LANDLORD AND TENANT ACT
- VIRGINIA COMMON INTEREST COMMUNITIES ACT
- VIRGINIA PROPERTY OWNER'S ASSOCIATION ACT
- VIRGINIA CONDOMINIUM ACT AND REGULATIONS
- VIRGINIA REAL ESTATE COOPERATIVE ACT
- VIRGINIA TIME-SHARE ACT
- VIRGINIA UNDERGROUND UTILITY DAMAGE PREVENTION ACT
- OTHER VIRGINIA PRACTICES
- Chapter Tests
- Chapter Tests Answer Key
- Real Estate Mathematics
- BASIC FORMULAS AND FUNCTIONS
- REAL ESTATE APPLICATIONS
- Real Estate Mathematics: Answer Key
- Practice Examination
- Practice Examination Answer Key
- Glossary of Style and Construction Terms
- Glossary of General Real Estate Terms
- Index
- Page Map
