Principles of Real Estate Practice in Michigan contains the essentials of the national and Michigan real estate law, principles, and practices necessary for basic competence as a real estate professional and as mandated by Michigan license law. It is based on our highly successful and popular national publication, Principles of Real Estate Practice, which is in use in real estate schools nationwide.

The text is tailored to the needs of the pre-license student. It is designed to

- make it easy for students to learn the material and pass their real estate exam

- prepare students for numerous career applications

- stress practical, rather than theoretical, skills and knowledge.

Principles of Real Estate Practice in Michigan is streamlined, direct and to-the-point. It includes multiple learning reinforcements. It has a student-oriented organization, both within each chapter and from chapter to chapter. Its examples and exercises are grounded in the authors’ many years in real estate education.

Table of Contents

The Real Estate Business

Rights in Real Estate

Interests and Estates

Ownership

Encumbrances and Liens

Transferring and Recording Title to Real Estate

Leasing Essentials

Land Use Planning and Control

Legal Descriptions

Fundamentals of Contract Law

National Agency

Listing Agreements: An Overview

General Brokerage Practices

Overview of Conveyance Contracts

Real Estate Market Economics

Appraising and Estimating Market Value

Real Estate Finance

Real Estate Investment

Real Estate Taxation

Professional Practices

Closings

Overview of Licensing and Regulation

Risk Management

Property Management

Michigan Licensing Regulation

Rules Governing Licensees

Contractual Relationships

Housing Regulations

Property-Related Disclosures

Other Points of Law and Practice

Glossary of Residential Style and Construction Terms

Glossary of General Real Estate Terms

Index