11/21/2024 2:51:49 AM	RE 58 Course Outline as of Summer 2021	Changed Course
CATALOG INFORMATION
Discipline and Nbr:  RE 58	Title:  REAL ESTATE ESCROW
Full Title:  Real Estate Escrow
Last Reviewed:9/10/2018

Units		Course Hours per Week			Nbr of Weeks	Course Hours Total
Maximum	3.00	Lecture Scheduled	3.00		17.5 max.	Lecture Scheduled	52.50
Minimum	3.00	Lab Scheduled	0		6 min.	Lab Scheduled	0
		Contact DHR	0			Contact DHR	0
		Contact Total	3.00			Contact Total	52.50
		Non-contact DHR	0			Non-contact DHR Total	0

Total Out of Class Hours:  105.00

Total Student Learning Hours: 157.50

Title 5 Category:  AA Degree Applicable
Grading:  Grade Only
Repeatability:  00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As: 
Formerly:  RE 80H

Catalog Description:

Fundamental principles and basic procedures involved in ordinary escrow transactions and title insurance coverage. Designed for real estate licensees and those desiring careers in title insurance and escrow fields. Applies toward educational requirements for the California Real Estate Broker's and salespersons examination.

Prerequisites/Corequisites:

Recommended Preparation:
Eligibility for ENGL 100 or ESL 100

Limits on Enrollment:

Schedule of Classes Information
Description:

Fundamental principles and basic procedures involved in ordinary escrow transactions and title insurance coverage. Designed for real estate licensees and those desiring careers in title insurance and escrow fields. Applies toward educational requirements for the California Real Estate Broker's and salespersons examination.

(Grade Only)
Prerequisites:
Recommended:Eligibility for ENGL 100 or ESL 100
Limits on Enrollment:
Transfer Credit:CSU;
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP

ARTICULATION, MAJOR, and CERTIFICATION INFORMATION

Associate Degree:		Effective:		Inactive:
Area:
CSU GE:	Transfer Area			Effective:	Inactive:
IGETC:	Transfer Area			Effective:	Inactive:
CSU Transfer:	Transferable	Effective:	Fall 1981	Inactive:
UC Transfer:		Effective:		Inactive:
C-ID:

Certificate/Major Applicable: Both Certificate and Major Applicable

COURSE CONTENT

Student Learning Outcomes:
At the conclusion of this course, the student should be able to:

1.  Audit and build escrow instructions for both the buyer and the seller.

2.  Categorize the different legal instruments used in an escrow transaction.

3.  Check and compile the requirements of a title transfer.

4.  Satisfy the California Department of Real Estate elective education requirement for salespersons.

5.  Satisfy the California Department of Real Estate elective education requirement for brokers.

 

Objectives:

At the conclusion of this course, the student should be able to:

1. Identify and organize escrows required by law.

2. Examine real property versus personal property.

3. Differentiate among the six elements of an escrow.

4. Compare and contrast buyers/sellers instructions.

5. Compare and contrast deeds/deeds of trust.

6. Complete a basic real property escrow including buyers' instructions and sellers' instructions.

7. Complete escrow prorations/adjustments including interest, taxes, and rents.

8. Diagram the steps for successful title search, transfer and recording of legal document(s).

Topics and Scope

I.  Definitions of an Escrow

    A. Reasons for escrow

    B. Escrows required by law

    C. Real property/personal property escrows

    D. Escrow holders

         1. Agents

         2. Independent companies

         3. Attorneys-at-law

II. Escrow Basics and Instructions

    A. Buyer/seller

    B. Amendments to instructions

III. Statements/Demands

    A. Beneficiary demand statement

    B. Rent statement

    C. Commission statement

IV. Instruments of Transfer

    A. Deeds

    B. Patents

    C. Deeds of trust

    D. Leases

    E. Mortgages

    F.  Reconveyance

V. Computations: Prorations and Adjustments

VI. Elements of an escrow

    A. Obtain instructions from the parties

    B. Draw instruments of transfer

    C. Obtain a policy of title insurance

    D. Collect funds from appropriate parties

    E. Record transfer at county level

    F.  Distribution of funds to seller and deed to buyer

VII. Title Search and Transfer

    A. Title search resulting in preliminary report

    B. Disposition of property prior to sale and legal description

    C. Documentation of liens, encumbrances and prior recorded status of property

    D. Title insurance issuance

    E. Record of transfer through appropriate instrument

Assignments:

1. Weekly reading assignments of 15-30 pages

2. Chapter questions

2. Quizzes and exams (3 to 5)

4. Fieldwork: field trip to county recorder's office and/or title plant

5. Research paper related to field trip with minimum of 2-5 pages

6. Class performance and class participation

Methods of Evaluation/Basis of Grade.

Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing.		Writing 5 - 30%
Chapter questions, research paper
Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.		Problem Solving 5 - 10%
Field work
Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.		Skill Demonstrations 5 - 10%
Class performances
Exams: All forms of formal testing, other than skill performance exams.		Exams 45 - 70%
Quizzes and exams to include multiple choice, true/false, essay
Other: Includes any assessment tools that do not logically fit into the above categories.		Other Category 5 - 15%
Participation and attendance

Representative Textbooks and Materials:

Escrow1. Huber, Walt and Newton, Joe and Rubeck, Anita. Educational Textbook Company. 2017

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