BSL 333 Study Guide - Midterm Guide: Real Estate Settlement Procedures Act, Rule Against Perpetuities, Life Estate
3 Feb 2016
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Document Summary
Chapter 1 introduction and sources of real estate law. The u. s. constitution: fifth amendment: eminent domain, fourteenth amendment: equal protection, dodd-frank wall street reform and consumer financial protection act. Changes on mortgage lending and anti-predatory loan protections. Federal administrative regulations: real estate settlement procedures act (respa, comprehensive environmental response, compensation, and liability act (cercla, bureau of consumer financial protection (bcfp, epa regulations, the code of federal regulations. Court decisions: interpret satutes, set precedent, must be read along with the statute, regulation, ordinance to know what the law really is. Chapter 2 land interests: present and future. Types of estates: freehold = uncertain or unlimited in duration, fee = interest in land that is inheritable, fee freehold = uncertain or unlimited in duration and can be passed along through inheritance. Types of ownership freehold: (1) fee simple (absolute, (2) fee simple (defeasible, (3) fee simple (determinable) To a so long as the premises are used for school purposes .
