LEGS 108 - Property Law

1. Compare and contrast real property, tangible personal property, and intangible personal property.
2. Explain the different ways ownership of property can be acquired and the basic ownership rights.
3. Discuss the freehold and leasehold estates recognized in Indiana and differentiate them from one another and from non-possessory interests such as easements.
4. Compare and contrast tenancy in common, joint tenancy with rights of survivorship, and tenancy by the entirety, the respective rights and responsibilities of these co-owners, and the effect of death upon each type.
5. Explain horizontal property and differentiate a condominium from a planned unit development.
6. Define the types of private and public encumbrances.
7. Explain Indiana’s recording statute.
8. Assess which losses title insurance protects against and why a title search is needed to qualify for it.
9. Differentiate title insurance from an abstract of title and an opinion letter.
10. Analyze and verify the accuracy of a legal description.
11. Explain the legal difference between a warranty deed and a quitclaim deed.
12. Explain the purpose of and the basic legal relationship created by a mortgage, a lien, and UCC Article 9 security devices.
13. Define and explain what a leasehold estate is, the contractual elements of a lease, and the respective rights and duties of landlord and tenant in Indiana.
14. Define and explain concepts and principles in the area of personal property law such as bailments, lost property, and intellectual property.

• The student shall receive instruction in Indiana law concerning types of property, basic ownership rights in property, ways to acquire or transfer ownership, estates in land, concurrent ownership, encumbrances on title, easements, surveys and legal descriptions, deeds, recording statutes and title examination, title insurance, mortgages and UCC Article 9 security interests, foreclosure, real estate contracts to purchase and installment land contracts, closings, powers of attorney, landlord-tenant law, gifts and trusts, personal property law, intellectual property law, and the applicable rules of professional ethics. Projects include learning to read legal descriptions and drafting transactional and litigation documents.

 
Course Addendum - Syllabus (Click to expand)