BU.132.615.XX – Real Estate Legal Environment – Instructor – Page 1 of 8

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Real Estate Legal Environment

2 Credits
BU.132.615.XX
[NOTE: Each section must have a separate syllabus.]
[Day &Time / ex: Monday, 6pm-9pm]
[Start & End Dates / ex: 3/24/17–5/12/17]
[Semester / ex: Spring 2017]
[Location / ex: Washington, DC]

Instructor

[Full Name]

Contact Information

[Email Address]

[Phone Number, ###- ###-#### (Optional)]

Office Hours

[Please specify the day and time of the 2 hours that will be dedicated to office hours each week. For evening classes, faculty may wish to hold their office hours by phone or email. While faculty are permitted to state “and by appointment,” office hours should not be held exclusively by appointment.]

Required Text(s)Learning Materials

Real Estate Law: Fundamentals for the Development Process (2017), Peter E. Smirniotopoulos, Routledge,

ISBN 978-1-138-79098-8

Additional articles and reading materials as assigned and posted on Blackboard.

Course Description

Complex legal issues involved in a real estate development and management transaction are reviewed and analyzed in this course. Students explore legal topics, beginning with the basic principles of property law and extending to environmental issues and safeguards of site acquisitions through construction, including leasing, financing, conflict resolution, operation, and sale of a real estate project. Negotiation and legal aspects of alternative financing and entity structures are discussed. This course was previously titled Real Estate Law II.

Prerequisite(s)

None

Learning Objectives

By theend of this course, students will be able to:

  1. Understand the constitutional and historical origins of public legal power over both private and public real estate.
  2. Understand the impact of contemporary environmental law and regulation on traditional real estate law.
  3. Understand the private legal ordering of real estate development, finance, construction, and transactions.
  4. Understand how the vertical flow of legal authority intersects the horizontal flow of the real estate development, finance, construction, and transactional process.
  5. Understand how real estate lawyers think, what they do, and their place in the real estate deal team.
  6. Understand how real estate business leaders may most effectively collaborate with lawyers in solving real estate problems with a legal dimension.

To view the complete list of Carey Business School’s general learning goals and objectives, visit the Carey website.

Attendance
Attendance, class participation, and citizenship are an essential part of each student’s course grade. Students are expected to attend all scheduled class sessions. Each class will include opportunities for extensive discussion together. Failure to attend class will result in an inability to achieve the objectives of the course, particularly the synergy of participation and shared real estate experience among students, which is vital to preparing students for the collaboration indispensable to the real estate industry. Excessive absence will result in loss of points for participation. Regular attendance and active participation are required for students to successfully complete the course.

Assignments

In-Class Presentation

During Classes 2–7:The in-class presentation is an opportunity for students to share and discuss with their colleagues a matter they have personal experience with or a case they have an interest in related to real estate law and regulation.

Supreme Court Land Use Opinion

Due Week 5:The Opinion gives students the opportunity to synthesize major Supreme Court land use cases into a mock Supreme Court land use opinion, utilizing the common law system of legal precedent, to understand how real estate lawyers think, as well as the regulatory issues that face real estate business people in the extreme case. This assignment is challenging, but students do an amazing job writing the Opinion—often better than many lawyers would—and learn a huge amount.

Final Examination
During Class 8:The Final assesses all material addressed in the course, and consists of three parts: (1) multiple-choice questions based on real estate law and business fact patterns (25%), (2) short-answer questions based on an extended real estate development, environmental, finance, construction, and transaction narrative describing a major real estate project (50%), and (3) choice of 1 of 3 essay topics based on real estate legal themes provided (25%).The short-answer section in particular is designed so that students will apply the vertical flow of legal authority to a real estate project unfolding horizontally over time.The Final is designed to enable students to play to their strengths; there are many ways to succeed on the Final. Quantitatively-oriented students often do especially well on the multiple-choice questions, all diligent students can do well on the short-answer questions, and qualitatively-oriented students often do especially well on the essays.

Evaluation and Grading

Assignment / Learning Objectives / Weight
Attendance and participation in class discussion / 1–6 / 10%**
Class Presentation / 1–6 / 10%
Supreme Court Land Use Opinion / 1–6 / 40%
Final Examination / 1–6 / 40%
Total / 100%

**RUBRIC FOR PARTICIPATION IN CLASS DISCUSSION/INDIVIDUAL CONTRIBUTIONS TO LEARNING:

Students should read all readings for a given class prior to the class.The readings are carefully selected to encourage the most valuable class discussions.Students will learn the most and perform the best if they are proactive as to class contributions—just as real estate business people must be proactive in effectively utilizing lawyers, and just as real estate lawyers must be proactive in counseling their real estate business clients.

Students will be evaluated on their contributions to discussions.Contributions are defined as:

  • Observations that advance the discussion or change the direction of the class discussion
  • Insightful commentaries that raise learning points
  • Probing questions that challenge the ongoing discussion and yield new directions
  • Analyses that amplify the facts at hand
  • Clarifications of ambiguous points that are confusing the class or otherwise impairing learning
  • Professional experiences that truly and concisely illuminate the point under discussion
  • Commentary that integrates material within the individual class, from other classes in the course with the individual class, and from classes in other relevant courses with the individual class, particularly in ways that are not obvious or counterintuitive
  • Flashes of creative insight not readily categorized

Class attendance is a prerequisite for class contribution.A minimal grade is assigned for attendance without active participation.

Class contribution will be graded according to the following subjective criteria:

5 (high) = Answers or asks questions with good examples from the readings and makes excellent points that reveal deep and often original thought about the issue(s), and understanding of the readings.Raises the level of discourse.

4 = Raises a number of good points from the cases and readings, less inspired than a 5, but reveals a clear understanding of the material, with the ability to apply it.

3 = Raises a few good points, and shows a rudimentary grasp of the readings and cases.Attempts to draw some essential linkage with the concepts used in the class.

2 = Makes a small number of points but does not attempt to apply what is learned to the readings or lectures, i.e., superficial common-sense-type or glib answers to questions that required more insight.

1 = Shows up for class but does not participate.

Grading

Effective Fall 2017: The grade of A is reserved for those who demonstrate extraordinarily excellent performance as determined by the instructor. The grade of A- is awarded only for excellent performance. The grades of B+, B, and B- are awarded for good performance. The grades of C+, C, and C- are awarded for adequate but substandard performance.The grades of D+, D, and D- are not awarded at the graduate level (undergraduate only). The grade of F indicates the student’s failure to satisfactorily complete the course work.

Please note that for Core and Foundation courses, a maximum of 25% of students may be awarded an A or A-; the grade point average of the class should not exceed 3.3. For Elective courses, a maximum of 35% of students may be awarded an A or A-; the grade point average of the class should not exceed 3.4. (For classes with 15 students or fewer, the class GPA cap is waived.)

Tentative Course Calendar
The instructors reserve the right to alter course content and/or adjust the pace to accommodate class progress. Students are responsible for keeping up with all adjustments to the course calendar.

BRIEF SUMMARY OF ASSIGNMENTS

Week / Topic / Reading / Due
1 / Introduction & Foundationof Real Estate Lawand Regulation, Sustainability Framework for Real Estate Development / Smirniotopoulos
Chapter 1, pp. 1–38
Chapter 2, pp. 39–101
Chapter 3, pp. 103–127
2 / Public Law Authority Over Real Estate
Classics of Supreme Court Regulatory and Takings Jurisprudence / Land use cases detailed below / SUPREME COURT OPINION WRITING ASSIGNMENT POSTED
3 / Fundamental Control by the States Over Real Estate
Municipal Ordinances, Zoning, Permitting, and Local Authority Over Real Estate / Smirniotopoulos
Chapter 4, pp. 129–163
Chapter 5, pp.165–191
4 / Environmental Law Control Over Real Estate / Smirniotopoulos
Chapter 6, pp. 193–230
5 / Rights Between Private Parties: Contract Law & Due Diligence / Smirniotopoulos
Chapter 7, pp. 231–272 / SUPREME COURT OPINION WRITING ASSIGNMENT DUE
6 / Rights Between Private Parties and Private Ordering of Real Estate / Smirniotopoulos
Chapter 10, pp. 361–398
7 / Rights Between Private Parties: Choice of Form of Legal Operating Entity & Tort Law / Smirniotopoulos
Chapter 11, pp. 399–449
8 / FINAL EXAMINATION / IN-CLASS FINAL EXAMINATION

DETAILED BREAKOUT OF ASSIGNMENTS

Class 1 –

Introduction & Foundation of Real Estate Law and Regulation
Sustainability Framework for Real Estate Development

In-class Student Presentations: Discussion of requirements and expectations

Readings:

  • Federalism: Erie Railroad v. Tompkins, 304 US 64 (1938) (skim)

and

  • Smirniotopoulos - Real Estate Law: Fundamentals for the Development Process

Chapter 1 Introduction: Asset Classes, Property Classifications, Ownership Types,and the Development Process, pp. 1–38

Chapter 2 Introduction to the Development Process, pp. 39–101

Chapter 3 How Legal Issues Arise in the Development Process, pp. 103–127

Class 2 –

Public Law Authority Over Real Estate

Classics of Supreme Court Regulatory and Takings Jurisprudence

Student Presentations (10 min)

Readings:

Regulation:

  • Village of Euclid v. Ambler Realty Co., 272 U.S. 365 (1926) (Power to Zone),

and
(summary)

  • Larkin v. Grendel’s Den, Inc., 459 U.S. 116 (1982),

and

(summary)

Takings:

  • Berman v. Parker, 348 U.S. 2 (1954) (Power to Take Property for Public Purposes),

and

  • First Lutheran Evangelical Church of Glendale v. County of Los Angeles, 482 U.S. 304 (1987),
  • Nollan v. California Coastal Commission, 483 U.S. 825 (1987), l

and

  • Lucas v. South Carolina Coastal Council, 505 U.S. 1003 (1992),
  • Dolan v. City of Tigard, 512 U.S. 374 (1994),
  • Kelo v. City of New London, 545 U.S. 489 (2005),

SUPREME COURT LAND USE OPINION WRITING ASSIGNMENT POSTED FOLLOWING CLASS

Class 3 –

Fundamental Control by the States Over Real Estate

Municipal Ordinances, Zoning, Permitting, and Local Authority Over Real Estate

Student Presentations (10 min)

Readings:

  • Smirniotopoulos - Real Estate Law: Fundamentals for the Development Process

Chapter 4 Local Governments and Land Use Law, pp. 129–163

Chapter 5 Zoning and Land Use Regulations in Action, pp.165–191

Class 4 –

Environmental Law Control Over Real Estate

Student Presentations (10 min)

Readings:

  • Smirniotopoulos - Real Estate Law: Fundamentals for the Development Process

Chapter 6 Environmental Law, pp. 193–230

Class 5 –

Rights Between Private Parties: Contract Law & Due Diligence

Student Presentations (10 min)

Readings:

  • Smirniotopoulos - Real Estate Law: Fundamentals for the Development Process

Chapter7 Contract Law, pp. 231–272

SUPREME COURT LAND USE OPINION WRITING ASSIGNMENT DUE IN CLASS

Class 6 –

Rights Between Private Parties and Private Ordering of Real Estate

Student Presentations (10 min)

Readings:

  • Smirniotopoulos - Real Estate Law: Fundamentals for the Development Process

Chapter 10 Private Actions Creating Public Benefits, pp.361–398

Class 7 –

Rights Between Private Parties: Choice of Form of Legal Operating EntityTort Law

Student Presentations (10 min)

Readings:

  • Smirniotopoulos - Real Estate Law: Fundamentals for the Development Process

Chapter 11 Property Management and Leasing, pp. 399–449

Class 8 –

IN-CLASS FINAL EXAMINATION

BU.132.615.XX – Real Estate Legal Environment – Instructor – Page 1 of 8

Carey Business School

Policies and General Information

Blackboard Site

A Blackboard course site is set up for this course. Each student is expected to check the site throughout the semester as Blackboard will be the primary venue for outside classroom communications between the instructors and the students. Students can access the course site at Support for Blackboard is available at 1-866-669-6138.

Course Evaluation

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Disability Support Services

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Academic Ethics Policy

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It is the responsibility of every Carey student, faculty member, and staff member to familiarize themselves with the AEP and its procedures. Failure to become acquainted with this information will not excuse any student, faculty, or staff from the responsibility to abide by the AEP. Please contact the Student Services office if you have any questions. For the full policy, please visit the Academic Ethics Policy webpage.

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Students are strongly encouraged to consult the Carey Business School’s Student Handbook and Academic Catalog and Student Resources for information regarding the following items:

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