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Advanced Real Property
3 credit hours
Advanced Property serves as a bridge to Pace’s real estate transactions and land use courses. The course has a transactional focus, helping students incorporate the substantive concepts covered in the first-year property course into transactions involving a transfer of some property interest.
Students may be asked to prepare the relevant documents for a commercial lease. Such an exercise will require knowledge and application of the basic rules for contracting and of leases, but will also cause students to think about the practical issues that need to be anticipated in the lease documents. The course will also include a study of the differences in transfer for intellectual property transactions and as they may be involved in the purchase of a business. The course will offer coverage of common interest communities, including homeowners’ associations, cooperatives and condominiums. In the current first year property course, little time is available for the study of these forms of joint ownership even though nearly one out of every six Americans, or 42 million people live in common interest communities. These forms of common ownership raise all sorts of public policy issues, particularly those about closed communities. Extensive coverage will be given to easements and covenants in transactions, considering public regulation of such private agreements as a demonstration of the intersection of land use law and transactions. In the end, we conclude with a formal discussion of public land use controls and new thoughts on planning.