Principles of Real Estate

Ownership Tenancy in Severalty Tenancy in Common Two or more owners Identical rights Interests individually owned Electable ownership shares No survivorship No unity of time Joint Tenancy Unity of ownership Equal ownership Transfer of interest Survivorship Creation of joint tenancy Termination by partition suit Tenancy by the Entireties Survivorship Equal, undivided interest No foreclosure for individual debts Termination Community Property Separate Property Tenancy in Partnership Living Trust Testamentary trust Land Trust Conventional trust structure Beneficial interest Condominium Airspace and Common Elements Interests and Rights Possession, use, and exclusion Transfer and encumbrance Condominium Creation Declaration provisions Organization and Management Organization Management Owner Responsibilities Individual units Common area assessments Interests, Rights and Obligations Cooperative association’ said interest Shareholder’s interest Proprietary lease Expense liability Transfers Organization and Management Time-Share Freehold/Fee Simple Absolute Time-Share Lease Time-Share Freehold Regulation

Interests Undivided interest Estates in Land Fee Simple Estate Fee simple absolute Fee simple defeasible Determinable Condition subsequent Life Estate Remainder Reversion Conventional Life Estate Ordinary life estate Pur autre vie Legal Life Estate Homestead Dower and curtesy Elective share Leasehold Estates Estate for Years Estate from Period-to-Period Estate at Will Estate at Sufferance

Land Physical characteristics Real Estate Real Property Classifications of property Tangible Versus Intangible Property Real Property Rights Surface rights Air rights Subsurface rights Water Rights Doctrine of prior appropriations Littoral rights Riparian rights Real Property Versus Personal Property Fixtures Differentiation criteria Attachment Intention Adaptation Functionality Relationship of parties Sale or lease contract provisions Trade Fixtures Emblements Conversion Areas of Regulation Federal Regulation State Regulation Local Regulation Judicial Regulation

Advantages of Ownership Pride of ownership Control Stability Investment Responsibilities and Disadvantages Taxes Costs of ownership Compliance with law Housing Types Single-family Multi-family Condominium Cooperative Townhouse Planned unit development Retirement community Mixed use development Manufactured housing Modular housing Mobile home Timeshares Desirability Features Location Age and condition Appearance and appeal Neighborhood Appreciation prospects Income Tax Deductions Property taxes Mortgage interest Mortgage credit certificate Capital Gains Exclusion Homeowner’s Policies Package policies Coverages Policy types Claims Premiums CLUE reports Other Insurance Flood insurance TWIA flood insurance requirement Windstorm and hail insurance Earthquake insurance Extra coverage (endorsements) Personal umbrella liability insurance Condominium insurance Townhouse insurance Mobilowner’s insurance Farm and ranch insurance Pricing and expenses Mortgages Qualifying First-time homebuyer

Overview of Homeowners Insurance in Texas Presentation Eli Vardi Farmers Insurance 21920 Bulverde Rd, Ste 101 San Antonio, Texas 78259 (210) 776-1100 evardi@farmersagent.com

In this episode I discuss professional development for real estate professionals -- The 95 things every real estate professional should know. SHOW NOTES Business Cards LinkedIn LinkedIn Tips How to Get Recruiters to Notice You on LinkedIn Resume Review List of Professional Organizations UTSA COB Internship Information CRM – HubSpot CRM - ClientLook

Overview of getting your real estate license in Texas Links and Show Notes: Texas Real Estate Commission (TREC) TREC Licensing Information Real Estate Express Train Agents SABOR Champions School of Real Estate TREC Salesperson Application Broker Responsibility Points

The Real Estate Business Real Estate Activities Creation and improvement Management and maintenance Demolition Investment ownership Regulation Transfer Professional Specialties Property Type Specialization Residential property Commercial property Investment property Forms of Specialization Property type Geographical area Type of transaction Type of client Type of relationship Skills and Knowledge Professional Organizations Real Estate Law Federal level State level Local level Case law Common law Regulation of Business Practices Real Estate License Laws

Review of the syllabus for the Summer 2019 semester Show Notes: Syllabus