Summary of Completion – History of Real Estate and Real Estate Principles Assignment | College Homework Help

I completed 20 hours of continuing legal education. I have to write an essay covering what I learned and how I will apply that to my current job. If I am successful, the State Bar of Texas will award me an advanced credential.

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Course Description:
The Real Estate Principles course presents fundamental concepts related to acquisition, possession, use, and transfer of real property. Modules in the course include an introduction to real estate law definitions and terminology; the historical background of the development of real estate law, from feudal England to early America to present-day America; present estates and future interests in land; acquiring and holding title; easements, real covenants, and equitable servitudes; categories of real property; defining and describing real property; and systems for recording documents related to real property.
Essay Instructions:
Once you have successfully completed all the chapter exams for this course please submit a summary of what you learned from this course and how you will apply this to your job.

The Statement of Completion – Summary of what you learned and how you will apply this to your job.

 

With so many facets of real property and personal property, it is likely a paralegal will have some sort of exposure to a component of the real estatefield. While working in a practice that primarily concentrates in construction law, business law, collections, and real property law I have come to realize that the real property field is a broad and complicated practice area and real estate principles affect some portion of all of those fields.

 

I have become proficient in the proper procedures and court requirements without knowing the history, the background, and the reason why things are done in a certain manner. The history of real estate goes beyond a skill set, it forms the very foundation used today and its long history has morphed into the laws and regulations in place today.The industry may have been conceived by our ancient ancestors; it is still apparent today that the driving force in this ambition of man is all about financial gain. Real estate if an object of value and provides status and/or revenue for its holder. Additionally, taxes on property are customary and provide much of the tax revenue for local municipalities and property can be seized for failure to pay.

 

 

 

The development of English property law since the Norman Invasion has left a lasting imprint on American property law.From the history of real estate and the feudal system where real estate title was based in English law; whereall lands were owned and taxed by the king or other sovereign and that sovereign granted the right to possess real estate; and where ownership reverted to the king or other sovereign upon the death of the grantee.One can fast forward to  today where the estate is still the principal form of real property ownership; where property can be devised by will, but the Rule in Shelley’s Case and the rule of perpetuities limit future interests; and where if a person dies without a will or heirs, his or her property still escheats to the state to prevent property from becoming ownerless. Additionally, the US Constitution preserved the government’s power of eminent domain, but provided that just compensation must be paid to the owner of the property that is confiscated.

 

To the current property code, rules and regulations, and laws that are valid today.

The more I learn about real estate, the more evident it becomes that the industry touches everything. That’s definitely the feeling I got while working through the Real Estate Principles lessons. A paralegal working in the securities field, wills and estate planning, formation of business entities, and family law will benefit from knowing the real estate basics and principles. This course has exposed me to terms and concepts that are pertinent to my practice areas. The concepts and lessons in the course are significant and useful and I will apply those concepts moving forward.

For example, before I started the real estate principles course, I believed I knew what I was doing with regard to real estate. My skills are such that I believe I am an asset to my employer with respect to the field. However, after doing this course, I realize how much there is to learn.Specifically, knowing the authentic meanings to pertinent terms. For example, I have researched the real property records for items that would cloud a title. I have found a Notice of Lis Pendens and I have prepared a Notice of Lis Pendens without truly knowing what the document entailed and its effect on a title. Additionally, I have had exposure to varies documents that cloud a title never really knowing the background of the document and why such document would be necessarily filed in the real records.

The lessons that covered researching judicial and legal issues, landlord/tenant issues, ownership/possession/use, mineral, water, subsurface, airspace. Learning the difference between a Profit a Prendre and the right to go onto property and remove something versus a license or temporary lodging.

The governmental reach where in America today, the state is sovereign, and the king’s police power has descended to the states. Police power such as zoning laws, planning and  building codes, health and fire codes, rent control,and the power of eminent domain are other lessons covered that can affect real estate.

Public controls – administrative actions for nuisance, confiscation, eminent domain, environmental restrictions escheat, plat restrictions, taxation lase, zoning

Private control – licenses, liens, private nuisance actions, profit a prendre, servitudes

Vestiges of Feudalism in Modern America – Principal form of ownership is the estate

 

Dealing with clients, lenders, title offices and responding to inquires is expected during the course of the day and throughout court cases. After completion of this course, I am better prepared to handle those demands.

Additionally, there are many moving parts in the chain such as clients, lenders, title offices, clerk’s offices, surveyors. planning, organizing, controlling, communicating, and navigating in this unique work environment requires patience and the ability to coordinate with many offices and schedules.  For example, planning and zoning and the governmental meetings associated with getting zoning approved. City meetings and the requirements that have to be met in order to get permits processed and approved.  Helping attorney(s) and ultimately clients achieve their dreams and/or goals can entail researching plats, surveys, and field notes/property descriptions, dominant tenement and servient tenement, ad valorem tax history and issues, liens and judgments, and how to avoid and/or work through issues when interests merge. These are just a few of the things that can impact ownership, title, and title transfer. As a result, being proficient with regard to real estate principles is paramount. Clients rely on our knowledge, services, and expertise to assist them. To facilitate clients’ cases ethically and professionally and with a degree of confidence that makes my law office stand apart.

Lastly, I will use the knowledge I have obtained from this real estate principles course and my passion for the unique and challenging real estate field and apply it by helping my attorney(s) and ultimately clients achieve their dreams and/or goals regarding real estate.

The ACP credentialwill put polish on my certified paralegal designation and solidify my commitment to my trade and my commitment to continued growth in the legal field. Advanced education in this specific area of law is proof of my career long commitment to learning and honing my skills. Obtaining the ACP designation is an important goal and my purpose is to be welcomed as a member of the elite and prestigious group with the ACP designation.

 

 

 

 

 

 

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The term real estate refers to the tangible, real, underground, above the ground rights, which can be invested by any means to bring about monetary value. We have four categories of real estate and they include the following

There are four types of real estate, which include residential, commercial, industrial, and bare land.  The real estate business goes back before even the revolutionary wars, and this was the time that the members used to flip houses or homes. This was caused by the rise in the status of such people or otherwise due to personal influence by the people around (Krumm).

It is also dated back to the cave drawings in condos, but it has become popular due to the rise in the property value. Property ownership has become a symbol of wealth where one can have private property or publicly owned property. The real estate grows fast because it has a foundation and a direction of a free market system. Due to economic prosperity in the 1920s, there was a need for a new lifestyle and new ways of living, especially in the houses. Growth of the workforce and the increased number of people migrating, especially to the cities, has brought about the need to get more, especially houses to stay. Industries have also come up largely, and they also require space to operate. The labor force also requires places to stay as they work in the industries. This has been a huge contributor to the growth of the real estate industry (van der Voordt).

I have gained experience from both the class and the life experience of the law regarding the real estate business. I have worked in construction law, business laws, and the real property law also, under this; I have gained a lot of experience regarding the real estate business. The more I learn about real estate, the more I learn how to complicate how the enterprise is. From the history I have learned in class, I have become a certified and proficient person in the procedure and the requirements that occur in the courts, and I can be able to justify and defend how the things are done in a certain way.

When I started the real estate course, I believed I knew so much about real estate, but I found that I had no clue what was going on. After learning more, I have also gained more knowledge and insights into how there are many things to learn. I have also been exposed to various documents that talk more about real estate, and they have expanded my knowledge. A very important lesson is the study of the judicial and criminal offenses that occur in the real estate business and the way to handle the buyers, sellers, and landlords. I have also learned on the property licensing and the transfer terms and the permits, this has helped me add knowledge and ensure that I can be able to follow the right procedure when deliberating the real estate business.

This has been one of my best courses because I have learned the new thing that I thought I knew and which will definitely help me in the life of the real estate. Firstly, I will apply the knowledge in serving the clients, especially in the marketing and selling of the real estate property. The lenders, title officers, and the responses I have made in the course have helped in my confidence boost, which I can use in the field because I will be dealing with the same clients I have dealt with during my practice. I have also gained a huge knowledge of the management of the properties, both the private and the public properties. This is a good go ahead because I will have started from somewhere in the case in the future am assigned somewhere to manage any kind of property.

I have gained patient in navigating, planning, organizing, and also communicating the different environments in real estate. Working in some conditions requires a resilient person who can be able to work under pressure and also work under less or no supervision. The examples of planning the different government meetings can be humiliating and tiresome most of the time. Also, helping the attorneys in the lawsuits and the clients also requires a short-tempered person and a person who is able to control their anger because these people are very intimidating. Some of the people take advantage of the trainees and exploit the power they have in the offices. I have gained a passion for the work I have learned, and I will use it towards my clients to achieve their goals. The owners of different properties also rely on people like us to help advise them on the way forward regarding property management. Being a certified paralegal has been my dream, and since now it has come to pass, then I will work to fulfill the purpose of the real estate history and make the world a better place.

 

 

WORKS CITED

Krumm, Peter JMM. “History of real estate management from a corporate perspective.” Facilities (2001).

van der Voordt, D. J. M., and M. H. Arkesteijn. “Corporate and Public Real Estate management.” Dear is Durable (2016).

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