| 12/21/2024 8:14:45 PM |
| 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 | 17.5 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:
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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 examination.
Prerequisites/Corequisites:
Recommended Preparation:
Eligibility for ENGL 100 or ESL 100
Limits on Enrollment:
Schedule of Classes Information
Description:
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Fundamental principles and basic procedures involved in ordinary escrow transactions and title insurance coverage. Designed for real estate licensees. Meets California Real Estate Broker exam education requirement.
(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: | | |
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| CSU GE: | Transfer Area | | Effective: | Inactive: |
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| IGETC: | Transfer Area | | Effective: | Inactive: |
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| CSU Transfer: | Transferable | Effective: | Fall 1981 | Inactive: | |
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| UC Transfer: | | Effective: | | Inactive: | |
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| C-ID: |
Certificate/Major Applicable:
Both Certificate and Major Applicable
COURSE CONTENT
Outcomes and Objectives:
At the conclusion of this course, the student should be able to:
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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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1. 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
2. Escrow basics and instructions
a. Buyer/seller
b. Amendments to instructions
3. Statements/demands
a. Beneficiary demand statement
b. Rent statement
c. Commission statement
4. Instruments of transfer
a. Deeds
b. Patents
c. Deeds of trust
d. Leases
e. Mortgages
f. Reconveyances
5. Computations: prorations and adjustments
6. 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
7. 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
4. Fieldwork: field trip to county recorder's office and/or title plant
5. Research paper related to field trip with minimum of 2 pages.
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 | |
| 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% |
| Multiple choice, True/false, Essay exam | |
| Other: Includes any assessment tools that do not logically fit into the above categories. | Other Category
5 - 15% |
| Participation | |
Representative Textbooks and Materials:
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CALIFORNIA REAL ESTATE ESCROW by Dr. Donna L. Grogan. Dearborn Publishing
copyright February 2005.
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