real estate law Archives - Memos and Mirth

Exam 3 of 5: Real Estate Law

December 17, 2009

After the shock that was employment law, I engaged in a bit over-study for today’s Real Estate law exam.

So I dragged a bloated, coffee-stained outline into the exam room. It felt like carrying a bible with tabbies.¹

The outline had two major chunks. I am a firm believer that every 100 pages of substantive outline needs to be covered with at least one irreverent picture. My outline was about 200 pages, so I got two pictures.

The first table of contents featured a picture of Miss Lepore as photographed by David LaChapelle:

The second table of contents had a picture of my favorite lolcat: chastity kitty.

As paper was flying during the exam I kept coming across the pictures of Amanda Lepore and Chastity Kitty, and I snickered each time. Best exam ever.²

¹ Although it was determined yesterday that beating the exam with my outline while screaming “I’M FILLED WITH MORTGAGE LOVE!” would probably be disruptive and possibly be against the honor code.

² The real estate law exam was elegant. It was only four pages! I think the one-question tort exam last year was at least 10 pages. And that’s not even an exaggeration! I walked in the snow, uphill, both ways for a single question 10 page exam! Oh those were the days…

Law School / on the record

Professor E silences the Beaver

November 18, 2009

The one thing I love about my Real Estate Law professor is her ability to control the classroom while keeping a smile on her face.

Yesterday, Eager Beaver, a boy who actively participates in class, was particularly eager to answer Professor E’s questions.

Towards the end of class, Jill was visibly annoyed by Beaver’s participation.

Professor E asked another question to the class. Beaver’s hand shot up. Jill muttered dark threats under her breath and was obviously considering how to make it look like an accident…

Professor E caught Jill’s look of sheer hatred, and then turned to Beaver and said, “You’ve been really good about participating today. How about we give someone else give a chance who hasn’t had the opportunity to speak yet? (then turns to the class) Who wants to speak?”

Other Professor E posts:

Law School / on the record

Professor E makes a value judgment

November 4, 2009

Glasses on book by Dariusz Sankowski via Stocksnap

Yesterday’s topic in Real Estate Law was Due-On-Sale clauses in mortgages. These clauses allow a lender to demand repayment of the entire loan amount upon the sale of property:

Professor E: “The game was hiding the sale from the lender. Every market had a few lawyers that people knew would be willing to do this. So people who wanted to cheat their lenders would go to these lawyers…well, I guess saying “cheat” is a value judgment isn’t it? So anyway they would go to these lawyers to cheat their lenders…”
Jill: “Wait! You seem to be implying it is wrong to do this.”
Professor E: “You’re right!”

This triggered a 10 minute discussion on the ethics of lawyers helping clients hide transfers of property interests from lenders.

Professor E: “Wow, maybe this is an avoidance of the next topic because I’ve never had so much participation!”

And she was right. The next topic was mortgage backed securities. Eek.

OTR: Sports overload & mass confusion

October 29, 2009

My tax professor has his priorities right:

Professor A: “I should have your midterms back, but I am going to three sporting events in the next three days instead of grading your papers…it’s a sports overload that my wife’s not very happy about…”

My employment law professor keeps warning us that the ERISA material is boring:

Professor I: “I guarantee you the ERISA preemption case is…uh…well, it’s not fun. Good luck with that! See you next week!”

(I actually think the ERISA regulations are interesting and get to read a lot of ERISA-cases at work.)

My Real Estate law class has gone from a dull review of property law to an ultra-complicated look at the secondary mortgage market and rights of the mortgagee upon non-payment

Professor E: “Let me just tell you where we are going to start on Monday because I feel like I did enough damage today...”

I think most of us are unspeakably confused in that class. Thank goodness employment law and conlaw II are still easy…

2L Fall / Law School / legal humor / on the record

OTR: Tidbits

September 24, 2009

Mixed bag today:

It was 10 minutes before the end of class in Real Estate Law, but the professor must have seen the blank looks on our faces:
Professor E: “Hm. I think I’ve wreaked enough havoc for today.”

Professor V found a quote on one Justice’s expectations of the law:
If there is one thing that the people are entitled to expect from their lawmakers, it is rules of law that will enable individuals to tell whether they are married and, if so, to whom.” Justice Frankfurter, dissenting, in Estin v. Estin. 334,US 541 552 (1948).

And I appreciated Justice Harlan’s comment on Due Process in the Conlaw reading:

“The Due Process Clause stands, in my opinion, on its own bottom.” Concurring in Griswold v. Connecticut, 381 US 479

The law in that case involved a ban on contraceptives for married couples. Even Justice Stewart’s dissent acknowledges how crappy the law is: “I think this is an uncommonly silly law.”