Real estate document.

Describe how personal experiences influence workplace culture.

As learned throughout this course, real estate transactions are specialized and must fulfill several requirements to be considered valid transactions. In fact, contractual principles come into play relative to many real estate transactions. This includes such things as lease agreements, easements, and sale of property.

In the event of the sale of property, a deed is drafted and executed. The deed, like most real estate agreements, must fulfill the contractual requirements per state law and the statute of frauds. Many states provide statutory guidance on the standard document requirements and contents relative to real estate transactions, especially in the sale of property.

Scenario

The property, which is located in a county in your state, is being conveyed from Sam and Sarah Seller (husband and wife) to Barb Buyer (mother) and Ted Buyer (her son) on January 20, 2007. The purchase price (consideration) is $425,000. The legal descriiption for the property is “Lot 2, Block 3456, Section 7, having the street address of 123 West Main Street, your town, your state, as per plat recorded among the land records of your county in Liber 23456, Folio 7765.”

Instructions

Part 1:

(1) Draft and prepare a deed creating a joint tenancy with the right of survivorship, with the following items within the deed itself:

Grantor’s name and marital status
Legal descriiption
Listing of any encumbrances
Applicable property identification numbers (Note: include if your state requires it; you can create your own for purposes of this assignment)
Other miscellaneous items such as witnesses, acknowledgement, parties’ addresses, stamp tax, etc.
(2) Research and provide copies of your state’s statute relative to, but not limited to, deed requirements and recordation of deeds

Tips and Suggestions

(1) Utilize your state’s law relative to drafting deeds, as it is great practice.

(2) Obtain a sample deed in general or state specific for reference via use of the Internet, local county recorder’s office or applicable entity, and/or searching Westlaw in the Library.

(3) Include correct spellings of the parties’ names, addresses, legal descriiption, inclusion of the grantor’s marital status and any incidental clauses to be included.

Good luck, have fun, and be creative in your learning!

Part 2

As you are wrapping up the deed, you realize that there are two other important documents that must be completed and executed as part of this deal for our clients. These documents have not been started. They must be ready for the early morning meeting, the next day, and everyone working on the deal has left the office for the day. It is 5:00 pm and your daughter has the state championship game in field hockey that starts at 6:00.

The office culture is “the client comes first.” We always meet the needs of our clients. The firm also strongly believes in treating their employees right. How do you balance the needs of the job and the office culture against personal needs and wants? How does your experiences in the office influence your decision? How does your decision impact the office and its culture? Describe these competing interests and conclude what you will do?

(1) Draft a memo of roughly 200-300 words in length.

(2) Do in text citation for any sources you may use to support your answer.

(3) Submit both Parts 1 and 2 in one MS Word document format via the Unit 8 Dropbox.

The viewpoint and purpose of this essay in Part 2 should be clearly established and sustained. Assignment should follow the conventions of Standard English (correct grammar, punctuation, etc.). Your writing should be well ordered, logical and unified, as well as original and insightful. Your work should display superior content, organization, style, and mechanics. Use the appropriate citation style for all citations.

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