Real Estate Transactions
Real Estate Transactions will have a "real world" focus, helping students apply some of the substantive concepts covered in the first-year property course to actual commercial property transactions involving the transfer, leasing and financing of real property interests. Among the topics covered will be preparing the letter of intent, preparing and negotiating the purchase and sale contract, examining title and survey issues, reviewing leases, negotiating finance documents, and closing the transaction. The course will also explore various negotiation strategies. Emphasis will be on California law, with some discussion of how the laws of other states may affect how a transaction is structured. Tangential issues that may be covered include selecting the appropriate entity to be used in various real estate transactions, the role of the attorney v. the role of the businessperson on a transaction, and what actions should be taken when something goes wrong on a real estate transaction, including a discussion of applicable remedies. The course will be taught through a combination of lectures, reading assignments and drafting exercises. Time and size of class permitting, there may also be some practice negotiation exercises.