SRJC Course Outlines

7/21/2019 5:49:25 AMRE 58 Course Outline as of Fall 2019

Changed Course
CATALOG INFORMATION

Discipline and Nbr:  RE 58Title:  REAL ESTATE ESCROW  
Full Title:  Real Estate Escrow
Last Reviewed:9/10/2018

UnitsCourse Hours per Week Nbr of WeeksCourse Hours Total
Maximum3.00Lecture Scheduled3.0017.5 max.Lecture Scheduled52.50
Minimum3.00Lab Scheduled06 min.Lab Scheduled0
 Contact DHR0 Contact DHR0
 Contact Total3.00 Contact Total52.50
 
 Non-contact DHR0 Non-contact DHR Total0

 Total Out of Class Hours:  105.00Total 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:
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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: Untitled document
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:TransferableEffective:Fall 1981Inactive:
 
UC Transfer:Effective:Inactive:
 
C-ID:

Certificate/Major Applicable: Both Certificate and Major Applicable



COURSE CONTENT

Student Learning Outcomes:
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Students will 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: Untitled document
Upon successful completion of the course, students will 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
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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:
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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:
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Escrow1. Huber, Walt and Newton, Joe and Rubeck, Anita. Educational Textbook Company. 2017

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