N/A. Yes. Students are expected to review and understand all areas of the course outline.

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1 Course Outline School: Department: Business Legal and Administrative Studies Course Title: Real Estate 2 Course Code: LAWS 223 Course Hours/Credits: 56 Prerequisites: LA 112, LAWS 112 Co-requisites: Eligible for Prior Learning, Assessment and Recognition: Originated by: Revised by: N/A Yes Louise Winterstein Louise Winterstein, Brian Bradley Current Semester: Summer 2015 Approved by: Chairperson/Dean Students are expected to review and understand all areas of the course outline. Retain this course outline for future transfer credit applications. A fee may be charged for additional copies. This course outline is available in alternative formats upon request.

2 Course Description This course is the second of two real estate courses taken by students in the Law Clerk Program and familiarizes students with all the steps in a residential real estate transaction on behalf of either vendor or purchaser from initial client contact, through preparation of all documentation, the principles of title searching and closing proceedings. Students will also be introduced to Conveyancer software and Teraview (electronic registration). Program Outcomes Successful completion of this and other courses in the program culminates in the achievement of the Vocational Learning Outcomes (program outcomes) set by the Ministry of Training, Colleges and Universities in the Program Standard. The VLOs express the learning a student must reliably demonstrate before graduation. To ensure a meaningful learning experience and to better understand how this course and program prepare graduates for success, students are encouraged to review the Program Standard by visiting For apprenticeship-based programs, visit Course Learning Outcomes The student will reliably demonstrate the ability to: Demonstrate an understanding of the skills and procedures to conduct under the supervision of a solicitor a residential real estate transaction for either the vendor or the purchaser Demonstrate the ability to prepare the necessary documentation for a residential real estate transaction including calculation of the Statement of Adjustments, applicable taxes and closing funds. Utilize Conveyancer software to manage a real estate file and prepare real estate documentation. Utilize Teraview to conduct title searches and prepare electronic documentation for residential real estate transactions. Essential Employability Skills (EES) The student will reliably demonstrate the ability to*: 1. Communicate clearly, concisely and correctly in the written, spoken, and visual form that fulfills the purpose and meets the needs of the audience. 2. Respond to written, spoken, or visual messages in a manner that ensures effective communication. 4. Apply a systematic approach to solve problems. 5. Use a variety of thinking skills to anticipate and solve problems. 6. Locate, select, organize, and document information using appropriate technology and information systems. 7. Analyze, evaluate, and apply relevant information from a variety of sources. 10. Manage the use of time and other resources to complete projects. 11. Take responsibility for one's own actions, decisions, and consequences. *There are 11 Essential Employability Skills outcomes as per the Ministry Program Standard. Of these 11 outcomes, the following will be assessed in this course. Global Citizenship and Equity (GC&E) Outcomes THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 2

3 N/A Text and other Instructional/Learning Materials Text Book(s): Residential Real Estate Transactions, 3rd Edition, Kurtz, Emmans, Blatt, Emond Montgomery Publications. ISBN: (NOTE: If you do not have the third edition, you will have to order the text directly from the publisher. A link to the text website is on ecentennial.) Online Resource(s): ecentennial Material(s) required for completing this course: 2 legal size file folders, 2 letter size folders Stapler, staple remover USB drive for saving editable letters and forms Evaluation Scheme In- Class Assignments: Ongoing evaluations Production Assignment: Real Estate Transaction Test 1: Written assessment Test 2: Written assessment Evaluation Name CLO(s) EES GCE Outcome(s) Outcome(s) Weight/100 In- Class Assignments 1, 2, 3, 4 1, 2, 4, 5, 25 6, 7, 10, 11 Production Assignment 1, 2, 3, 4 1, 2, 4, 5, 25 6, 7, 10, 11 Test 1 1, 2, 3, 4 1, 2, 4, 5, 25 6, 7, 10, 11 Test 2 1, 2, 3, 4 1, 2, 4, 5, 25 6, 7, 10, 11 Total 100% If students are unable to write a test they should immediately contact their professor or program Chair for advice. In exceptional and well documented circumstances (e.g. unforeseen family problems, serious illness, or death of a close family member), students may be able to write a make-up test. All submitted work may be reviewed for authenticity and originality utilizing Turnitin. Students who do not wish to have their work submitted to Turnitin must, by the end of the second week of class, communicate this in writing to the instructor and make mutually agreeable alternate arrangements. When writing tests, students must be able to produce official College photo identification or they may be refused the right to take the test or test results will be void. Student Accommodation THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 3

4 It is College Policy to provide accommodation based on grounds defined in the Ontario Human Rights Code. Accommodation may include modifications to standard practices. Students with disabilities who require academic accommodations must register with the Centre for Students with Disabilities. Students requiring accommodation based on other human rights grounds should talk with their professors as early as possible. Please see the Student Accommodation Policy. Use of Dictionaries Any dictionary (hard copy or electronic) may be used in regular class work. Dictionaries may be used in tests and examinations, or in portions of tests and examinations, as long as they are non-electronic (not capable of storing information) and hard copy (reviewed by the invigilator to ensure notes are not incorporated that would affect test or examination integrity). Program or School Policies N/A Course Policies Please see ecentennial for absenteeism policy. College Policies Students should familiarize themselves with all College Policies that cover academic matters and student conduct. All students and employees have the right to study and work in an environment that is free from discrimination and harassment and promotes respect and equity. Centennial policies ensure all incidents of harassment, discrimination, bullying and violence will be addressed and responded to accordingly. Academic honesty is integral to the learning process and a necessary ingredient of academic integrity. Academic dishonesty includes cheating, plagiarism, and impersonation. All of these occur when the work of others is presented by a student as their own and/or without citing sources of information. Breaches of academic honesty may result in a failing grade on the /course, suspension or expulsion from the college. For more information on these and other policies, please visit Students enrolled in a joint or collaborative program are subject to the partner institution's academic policies. PLAR Process This course is eligible for Prior Learning Assessment and Recognition (PLAR). PLAR is a process by which course credit may be granted for past learning acquired through work or other life experiences. The PLAR process involves completing an assessment (portfolio, test,, etc.) that reliably demonstrates achievement of the course learning outcomes. Contact the academic school to obtain THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 4

5 information on the PLAR process and the required assessment. This course outline and its associated weekly topical(s) may not be reproduced, in whole or in part, without the prior permission of Centennial College. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 5

6 Topical Outline (subject to change): Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name 1 Introduction to Course Ch Review of Real Estate 1 Review of Agreement of Purchase and Sale 2 Opening Procedures for Real Estate Files Title Insurance 3 Preliminary Matters Conveyancer Software 4 Title Searching Teraview Software Ch. 15 Ch. 14 Ch. 24 Ch. 16 Ch. 17 Ch. 24 Ch. 13 (Kurtz at al.) Understand course objectives and evaluation process Demonstrate an understanding of the material covered in Real Estate 1 and how it will apply to Real Estate 2 Demonstrate an understanding of essential terms and provisions in a standard agreement, including critical dates Demonstrate an understanding of file opening procedures Demonstrate an understanding of the importance of ticklers Demonstrate an understanding of the importance of checklists Demonstrate an understanding of title insurance and its role in purchase and mortgage financing transactions vs. a lawyer s opinion Complete review of questions at the end of Chapters 1-10 Obtain file folders for Vendor & Purchase Files Demonstrate an understanding of liens or claims, both registered and unregistered, against land in Ontario and how to obtain this information including drafting the necessary correspondence Demonstrate an understanding of the requirements of institutional lenders Discuss electronic registration and be able to prepare the Document Registration Agreement Conduct a client interview to obtain the necessary information to complete the real estate transaction Open files and enter data in the Conveyancer software and prepare the preliminary/inquiry/ compliance letters Demonstrate an understanding of title search procedures under the Land Titles Demonstrate familiarity with the Teraview system and be able to conduct a title search and writ search using Teraview Lectures Discussion Demonstrations Ongoing: Inclass s (25%) Open real estate files for major Initial meetings with client (10 minutes each) Begin utility letters Conduct a title search for your Evaluation Date THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 6

7 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name Demonstrate an understanding of essential details from a title search that must be recorded 5 Review the Search of Ch. 18,19 & 20 Title and Requisitions Conveyancer Software 6 Document Preparation Teraview and Conveyancer software Conveyancer Software Ch. 21 Ch Document Preparation Ch. 21 & 26 8 Acting for the Mortgagee 9 Preparation for Closing Conveyancer and Teraview software 10 Closing the Transaction Ch. 25 & 26 Ch. 21 & 23 Ch. 22 & 26 Ch. 22 Ch. 24 Review a search of title Demonstrate an understanding of both title and off-title requisitions and responses Draft a requisition letter based on the search of title and information from other sources Discuss the elements of a transfer/deed including Family Law Act and Planning Act considerations Use Teraview and Conveyancer to prepare the transfer/deed Demonstrate an understanding of and be able to draft the necessary documents when acting for the purchaser including all purchaser s and vendor s warranties, undertakings and directions Demonstrate an understanding of and be able to draft the necessary documents when acting for the vendor including all vendor s warranties, undertakings, directions and the statement of adjustments Written assessment Demonstrate an understanding of the steps and reporting procedures required by the institutional lender Prepare correspondence and documentation required for a mortgage transaction using Conveyancer and Teraview Explain the closing documentation needed for interview with either purchaser or vendor prior to closing including preparation of the closing memorandum Demonstrate an understanding of the writ search process and preparation of the necessary affidavit(s) Accurately calculate closing costs Prepare the Land Transfer Tax Affidavit/Statement Demonstrate the ability to close a residential real estate transaction and register appropriate documents Prepare the requisition letter for your Test 1 Class 2 (20%) Prepare the Charge for your Prepare and organize file for client interview for your Evaluation Date THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 7

8 Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name appropriate documents Ch Post-Closing Ch. 25 & 26 Review the details of the completed real Procedures estate transaction and report appropriately to client including mortgagees and complete and close out the file 12 Condominiums Ch. 28 Discuss the steps in a condominium purchase and sale and demonstrate knowledge of the different elements of condominium title and law 13 Review n/a Real Estate Transaction Assignment late date first class of this week (5% penalty) n/a Real Estate Transaction Due Class 2 (25%) Evaluation Date 14 Test 2 All materials covered weeks 8-14 No will be accepted after the first class of this week. Weeks 8-14 Written Assesment Test 2 THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 8