LGS3010 Property Law

Advanced · 1 credit · HRH - Health, Recreation, and Human Services

Description: Students identify laws relating to real, personal and intellectual properties and investigate the processes of buying and selling real property and the legal implications associated with Internet transactions.
Prerequisite: None
Supporting courses: LGS1010: Private Law

Outcomes The student will:

1 differentiate the legal forms of property
- 1.1 describe and identify real, personal and intellectual properties
- 1.2 investigate historical changes in the legal definition of property
- 1.3 investigate historical changes regarding persons who could own property
2 compare various forms of property rights
- 2.1 examine the rights of an owner; e.g., sell, grant rights to third party interests, lease, mortgage, water rights, air space, quiet enjoyment, mineral rights
- 2.2 examine other property interests, including:
  - 2.2.1 lease; e.g., apartment, vehicle
  - 2.2.2 license; e.g., software, parking
  - 2.2.3 bailment; e.g., pawn shop, repair, storage
  - 2.2.4 lien; e.g., mechanic, builder, lender
  - 2.2.5 mortgage holder; e.g., line of credit, insurance
  - 2.2.6 easement and right of way; e.g., access to property
3 describe the types of transactions related to property
- 3.1 examine the legal requirements to purchase and sell real estate versus personal property by reviewing pertinent legislation; e.g., Sale of Goods Act, Law of Property Act, Land Titles Act, Fair Trading Act, Dower Act
- 3.2 examine the legal requirements to rent or lease real estate versus personal property by:
  - 3.2.1 reviewing pertinent legislation; e.g., Residential Tenancies Act, Fair Trading Act, Personal Property Security Act, Sale of Goods Act, Land Titles Act, Law of Property Act, Dower Act
  - 3.2.2 recognizing the implications of assignment and subletting
- 3.3 examine the legal implications of electronic and Internet transactions
4 describe the legal responsibility involved in purchasing and selling real property
- 4.1 explain the procedures involved in listing a property for sale
- 4.2 describe elements included in an offer to purchase, including subject to conditions
- 4.3 outline the various searches necessary to investigate the purchase
- 4.4 finance versus cash sale; e.g., conventional mortgage, CMHC high ratio mortgage, home equity line of credit
- 4.5 compare the rights and obligations of the mortgagee with those of the mortgagor
- 4.6 describe the role of various professionals in buying and selling property; e.g., realtors, lawyers, assessors, surveyors, property inspectors
- 4.7 describe the remedies for breach of real estate purchase contract
5 demonstrate basic competencies
- 5.1 demonstrate fundamental skills to:
  - 5.1.1 communicate
  - 5.1.2 manage information
  - 5.1.3 use numbers
  - 5.1.4 think and solve problems
- 5.2 demonstrate personal management skills to:
  - 5.2.1 demonstrate positive attitudes and behaviours
  - 5.2.2 be responsible
  - 5.2.3 be adaptable
  - 5.2.4 learn continuously
  - 5.2.5 work safely
- 5.3 demonstrate teamwork skills to:
  - 5.3.1 work with others
  - 5.3.2 participate in projects and tasks
6 create a transitional strategy to accommodate personal changes and build personal values
- 6.1 identify short-term and long-term goals
- 6.2 identify steps to achieve goals