Connecticut Real Estate Practice and Law Book

	Preface	vi
	Acknowledgments	viii
Chapter 1	Real Estate Brokerage and Agency	1
	Overview	1
	Licensing Law	2
	Agency Law	5
	Broker Compensation	18
	Broker's Lien	19
	Notice of Commercial Lease Commission Rights	20
	Mortgage Brokerage Services	20
	Endnotes	23
Chapter 2	Listing Agreements and Buyer Agency Contracts	26
	Overview	26
	Agency Agreements	26
	Content of Listing and Buyer Agency Contracts	45
	Net Listings	46
	Obligations Associated with Exclusive Agreements	46
	Fair Housing	46
	Disclosure of Property Information	47
	Advertising	48
	Telephone Solicitation	49
	Endnotes	49
Chapter 3	Interests in Real Estate	52
	Overview	52
	Dower and Curtesy	52
	Homestead Property	53
	Deed Restrictions	53
	Easements by Prescription	53
	License	55
	Water Rights	55
	Endnotes	55
Chapter 4	Forms of Real Estate Ownership	57
	Overview	57
	Co-Ownership	57
	Partitions	58
	Trusts	58
	Ownership of Real Estate by Business Organizations	59
	Common Interest Ownership Act	59
	Endnotes	63
Chapter 5	Legal Descriptions	65
	Overview	65
	Metes and Bounds	65
	Government Survey System	66
	Lost Boundary	67
	Common Interest Ownership	67
	Endnotes	67
Chapter 6	Real Estate Taxes and Other Liens	69
	Overview	69
	Property Taxes-The Local Domain	69
	Capital Gains Tax	72
	Conveyance Tax	73
	Other Liens and Transfer Taxes	73
	Endnotes	73
Chapter 7	Real Estate Contracts	75
	Overview	75
	Broker's Authority to Prepare Documents	75
	Standard Contractual Requirements	76
	Real Estate Contracts	76
	Residential Property Condition Disclosure	97
	Disclosure of Off-Site Conditions	99
	Building Inspection	99
	Endnotes	99
Chapter 8	Transfer of Title	101
	Overview	101
	Deeds of Conveyance	101
	Real Estate Conveyance Taxes	102
	Adverse Possession	104
	Transfer of a Deceased Person's Property	105
	Endnotes	106
Chapter 9	Title Records	108
	Overview	108
	The Necessity to Record	108
	Evidence of Title	110
	Marketable Record Title Act	112
	Endnotes	113
Chapter 10	Real Estate License Laws	115
	Overview	115
	Who Must Be Licensed (Sections 20-312 and 20-325)	116
	Connecticut Real Estate Commission (Section 20-311a)	117
	Licensing Procedure	118
	General Operation of a Real Estate Business	123
	Regulations	124
	Suspension or Revocation of a License (Section 20-320)	128
	Real Estate Guaranty Fund (Section 20-324a)	130
	Endnotes	132
Chapter 11	Real Estate Financing: Principles/Practice	136
	Overview	136
	The Mortgage Deed and Note	136
	Mortgage Brokerage	138
	Real Estate Broker Acting as Mortgage Broker	138
	Predatory Lending	139
	Mortgage Foreclosure	139
	Sources of Mortgage Funds	143
	Home Mortgage Disclosure Act (HMDA)	145
	Endnotes	145
Chapter 12	Leases	147
	Overview	147
	Lease	147
	Leasehold Estates	148
	Landlord and Tenant Act	148
	Summary Process (Actual Eviction)	160
	Fair Rent Commission	161
	Endnotes	162
Chapter 13	Real Estate Appraisal	165
	Overview	165
	Who Must Be Licensed (Section 20-501)	165
	Connecticut Real Estate Appraisal Commission (Section 20-502)	166
	Definitions (Section 20-504-1 of the Appraisal Regulations)	167
	Licensure Categories (Section 20-504-3 of the Appraisal Regulations)	168
	Licensing Procedures (Sections 20-509 and 20-504-5 of the Appraisal Regulations)	169
	Federal Registry (Section 20-504-10 of the Appraisal Regulations)	169
	Licensure Renewal (Section 20-504-7 of the Appraisal Regulations)	169
	Appraisal Standards (Section 20-504-2 of the Appraisal Regulations)	170
	Appraisers Licensed in Another State (Section 20-504-9 of the Appraisal Regulations)	172
Chapter 14	Land Use Controls and Property Development	174
	Overview	174
	Planning and Zoning	174
	Developing Specific Types of Property	177
	New Home Construction	181
	Home Improvement	181
	Commercial/Industrial Construction	182
	Private Land-Use Control	182
	Building Accessibility	183
	Connecticut Interstate Land Sales	183
	Endnotes	184
Chapter 15	Fair Housing and Ethical Practices	186
	Overview	186
	General Considerations	186
	Connecticut Fair Housing Laws	188
	Protected Classes in Connecticut	189
	Discriminatory Housing Practices	189
	Administrative Enforcement	193
	Psychologically Stigmatized Property	194
	Adaptable and Accessible Housing Requirements	195
	Public Accommodations Law	195
	Implications for Connecticut Real Estate Brokers and Salespeople	195
	Endnotes	196
Chapter 16	Closing the Real Estate Transaction	199
	Overview	199
	Closing Process	199
	Appraisals	200
	At the Closing	200
	Mortgage	202
Chapter 17	Environmental Issues and the Real Estate Transaction	204
	Overview	204
	Asbestos	204
	Lead-Based Paint	205
	Radon	205
	Mold	206
	Urea-Formaldehyde	206
	Water Wells and Groundwater Contamination	206
	Water Diversion	206
	Underground Storage Tanks	207
	Hazardous Waste	207
	Waste Disposal Sites	208
	Endnotes	210
Appendix A	Introduction to Real Estate Investment	213
Appendix B	State Sources of Information	222
Appendix C	Connecticut Transaction Documentation	226
Appendix D	Connecticut Specific Real Estate Math Applications	227
Appendix E	Electronic Signatures and Contracts	230
	Answer Key	237
	Index	240