REAL 645: Law and Entitlements Master Syllabus
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Course Description
This course will provide students with a basic understanding of the relevant law and legal concepts involved in real estate development. The course will address legal issues through the life cycle of a real estate development, including: acquisition, entitlement, construction, leasing and disposition. In addition to classroom assignments, students will create “development teams” for a case study project wherein they will be responsible for structuring certain contracts and legal documents associated with a development site, and analyzing the likelihood of a project’s approval by a local jurisdiction. Guest lecturers from the real estate building and development industry and other participants in the land development may also be invited to present to the class on their unique perspectives of the land development process.
Learning Objectives
At the end of this course, students will be able to:
- Demonstrate an understanding of Federal and State Land Use Law
- Evaluate complex legal/contractual risks in the context of real estate development
- Apply legal techniques to create value and avoid liability
- Demonstrate an understanding of the entitlement process
- Analyze planning and zoning regulations and implications for a development project
- Develop teamwork and presentation skills
Approach to Learning
This course involves an interactive, discussion-based lecture format as well as activities organized around group work to encourage collaboration and knowledge-sharing among students. Discussions and questions are highly encouraged. In group projects, each student is responsible for their individual contribution as well as collectively for the overall analysis, presentation, and written assignment.
Topics Covered:
- Contracts and legal documents
- Law and clauses relevant to: Purchase & Sale Agreements, Options, Rights of First Refusal, Partnership Agreements, JV Agreements, etc
- Federal and State Land Use Law
- Planning and Zoning regulations
- The Entitlement process
- Easements and Covenants
- Legal considerations of Environmental and Transportation issues
Representative Text and Learning Materials
There is no required textbook. Sample documents and selected court cases will be provided to students.
Student Responsibilities
Students are expected to attend all classes and are responsible for keeping themselves updated on any changes on the course website. In case of absence, it is the student’s responsibility to catch up with the material covered. Without advance notice and approval, no extensions or options to retake are provided if for any missed quizzes, exams, or assignments due to absence.
Methods of Student Evaluation
Exams, quizzes, class Participation, discussion of assigned readings, and group project reports and presentations.
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