NCREC-Approved Electives

What's Love Got to Do With It? Real Estate and Relationships


Description
This is an elective course approved by the NCREC.

As with many of my elective courses, this program was inspired by a student. It’s not unusual that real estate students and brokers have questions when we get to lessons on joint ownership of property. Many of them are in second marriages, divorced, widowed, or living with partners and their questions are often highly personal and relevant to their own lifestyles and relationships.

While I am not an attorney, I try to help my students untangle those complex concepts surrounding such ownership as estate by entirities, joint tenancy, and tenancy in common as well as the rather abstract issues of title and ownership. When I discuss those topics, love (or its absence) has everything to do with the decision that we make regarding holding title with others.

title is also an abstract concept and challenging to grasp, particularly because title concepts are rooted in archaic language and customs that date back to feudal England.

It is the purpose of this course to help real estate licensee grasp the concept of title as well as to provide insight into the process of title assurance, so that real estate consumers can rest easy that whatever ownership interests they are acquiring are both marketable and insurable.

Course Number: 3973 Name of elective cou...: What's Love Got to Do With It? Real Esta...

Content
  • INTRODUCTION
  • General introduction to the course
  • Introduction about how on-demand courses work
  • How to navigate this course and use the TalentLMS platform
  • Course description
  • Course instructional goal and objectives
  • Rules of engagement
  • The instructor
  • LESSON 1: Why we should ask our sellers, “Do you own this property?”
  • 1.1 Can you sell property you don't own?
  • 1.2 Let's review title.
  • 1.3 What quality of ownership do you have?
  • 1.4 What title do I have if I am a tenant?
  • 1.5 Does a tenant need to be concerned about the landlord's ownership rights?
  • 1.6 Let's review estates.
  • Section 2: WHO ARE THE OWNERS OF THIS PROPERTY?
  • 2.1 Do you own this property by yourself or with others?
  • 2.2 Fun Fact: Most millennials will buy a home before they are married.
  • 2.3 What if I'm not married to my partner?
  • 2.4 In NC, who inherits when there is no will?
  • 2.5 What happens if you live with a partner and die without a will?
  • 2.6 Another sad case in point: Sonny Bono
  • 2.7 The burdens of being a trustee
  • 2.8 The burdens of being a trustee, part 2
  • 2.9 Let's review concurrent relationships.
  • Section 3: “How do owners prove they have ownership?”
  • 3.1 How do you prove you are an owner?
  • 3.2 What makes a deed valid? You'll be surprised.
  • 3.3 A reminder about deeds
  • 3.4 When does title pass?
  • 3.5 How can a broker find out if a prior title policy exists?
  • 3.6 A little joke
  • 3.7 Let's review deeds and ownership documents
  • Section 4: Ok, my buyers received the title, but how do I know it’s good?”
  • 4.1 Why is title insurance the best form of title assurance?
  • 4.2 Some examples of hidden title defects
  • 4.3 title insurance rates
  • 4.4 What is title commitment?
  • 4.5 An almost-sad story
  • 4.6 What is title theft?
  • 4.7 Anything else? Yes, just a few things.
  • Let's review title insurance
  • CONCLUSION
  • Final assignment: What's love got to do with it?
  • Conclusion
  • You're almost done!
  • End-of-course survey
  • Just hit the complete button....
Completion rules
  • All units must be completed
  • Leads to a certification with a duration: Forever