Required Courses comprise five total credit hours: Real Estate Transactions (3 credits), which is required to be taken in the student’s first semester of study, and Advanced Topics in Real Estate Law (2 credits), which is required to be taken in the student’s last semester of study.
REAL ESTATE TRANSACTIONS
(PROPERTY - 1090)
3 credits
This course examines the fundamental legal and business building blocks of real estate transactions. Topics include the role of the lawyer, broker participation and responsibilities, the contract of sale and remedies for breach, deeds and closing, the title system, mortgages and foreclosure. This course provides a foundation for other advanced real estate courses. Grades are based upon a final examination. Pre-requisite: PROPERTY.
ADVANCED TOPICS IN REAL ESTATE LAW
(PROPERTY – 2050)
2 credits
In this seminar, students will explore cutting-edge issues in real estate law and deepen their understanding of concepts related to the financing, development, ownership and operation of real estate not covered in depth in any other course. Topics covered will change from year to year to reflect the most recent developments and trends in real estate, and the instructor's particular areas of expertise. Case studies of actual and simulated transactions will be used to increase students' understanding of the issues explored. The course will be taught as a mixture of lecture, directed discussion and seminar, and is anticipated to include distinguished guest lecturers with expertise in the particular topics covered. Course is SWR- eligible with prior approval of the professor. Grades will be based on a research paper (50%), several short response papers (25%), and class participation (25%). Pre-requisites: REAL ESTATE TRANSACTIONS and four additional credits of advanced PROP coursework. Enrollment requires permission of the Program Director.
Real Estate Elective Courses (offerings vary by semester)
Real Estate Elective Courses, together with the Required Courses must comprise not less than 15 of a student’s total credit hours.
AFFORDABLE HOUSING LAW AND PRACTICE
(PROPERTY - 2070)
2 credits
This course will explore the dynamics of the United States housing market from the perspective of homeowners and renters, developer, investors, local and federal officials, and members of the so-called "NIMBY" and "YIMBY" movements. We will consider the various federal and New York State programs that have been used to facilitate affordable housing over the past century, including the Low Income Housing Tax Credit (LIHTC), municipal bonds, and other programs that allow the development and revitalization of contextual housing (e.g., affordable housing, supportive housing, transitional housing, senior housing and faith based/mission driven development), and the roles of the various stakeholders, including the federal and state regulators administering these regimes. We will consider affordable housing as a public policy imperative, and the need for federal and state tax policies and sources of funding designed to facilitate such development. The interrelationship between affordable housing development, economic policy, zoning and land use policy and environmental policy will also be considered. This course will also lightly touch on alternative avenues to affordability apart from new housing construction, including public housing, voucher programs, middle-income programs, and rent stabilization. Emerging topics such as the repurposing of disfavored asset classes to housing uses transit-oriented development, "green" affordable housing, non-profit-private partnerships and public-private partnerships will be addressed. Grades will be based on a final examination and other grading components. Pre- or co-requisite: REAL ESTATE TRANSACTIONS or REAL ESTATE DEVELOPMENT.
COMMERCIAL REAL ESTATE LEASING
(PROPERTY - 2010)
2 credit
This course introduces students to the negotiation, drafting and interpretation of commercial real estate leases. Topics include: letters of intent, term, permitted use, assignment and subleasing, rent, alterations, maintenance, building services, regulatory compliance, options, brokers, casualty, insurance, indemnities, subordination, defaults and remedies. The course will also address ancillary lease documentation such as non-disturbance agreements, estoppel certificates and guaranties; certain tax consequences of commercial leasing; and ethical issues that arise in commercial leasing practice. Special attention will be paid to New York State and City laws impacting commercial leases. Students will gain an understanding of the key negotiating points in a commercial lease, the interests of the parties in relation to those points, and the process of negotiation which results in lease documentation memorializing these interests. Grades will be based on a final examination. Prerequisite: Property.
CONDOMINIUMS, COOPERATIVES & HOMEOWNER ASSOCIATIONS
(PROPERTY - 1000)
2 credits
This course examines modern forms of shelter from the viewpoint of the community, the developer, the institutional lender and the consumer. The relative advantages of each form of development, the legal problems involved in selling and re-selling individual units, and the controls that may be exercised over unit owners are examined. The economic, social and legal aspects of conversion of rental properties to cooperative or condominium status are discussed. Rights and remedies in the event of defaults by unit owners/developers are also considered. Students will work with applicable statutes, governmental regulations and documents of existing projects. Grades are based upon a midterm examination (10% of final grade) and a final examination (90% of final grade).
CONSTRUCTION LAW
(PROPERTY - 2040)
2 credits
This course is designed to provide students with a working knowledge of the field of construction law, beginning with the parties to a typical construction project, the types of contracts used, the competitive bidding process, labor law issues, and the resolution of disputes, with a concentration on issues related to construction in New York State and City. The students will review a standard construction contract published by the American Institute of Architects, participate in a mock mediation of a construction dispute, review and complete NYC Vendex Questionnaires required of all NYC municipal contractors, and review and complete a notice of mechanic's lien. The objective will be to provide the students with the ability to advise clients working in the construction field in reviewing contracts, participating in the competitive bidding process, handling disputes and labor issues, and filing claims for public and private works projects. Grades will be based on a final examination and class participation.
DIRECTED RESEARCH
(DIRECTED RESEARCH - 1000)
2 credits
The course in Directed Research is designed to afford students the opportunity to prepare a major research paper of publishable quality under the direction of a faculty adviser who has expertise in a particular area of the law. Students are responsible for obtaining the sponsorship of a faculty member prior to registering for the course. Students must complete an “Approval of Directed Research” form with the signatures of the faculty adviser and the Associate Dean to be submitted to the Registrar prior to the end of the semester drop/add period. Academic credit will be awarded only if the student has successfully completed all requirements by the end of the student's penultimate semester at the Law School. Completion of requirements means that the student shall have produced a final writing of at least 6,700 words in length (approximately twenty-five pages), inclusive of footnotes, that, except for the minimum grade, satisfies the guidelines in place at the time of registration and shall have prepared a detailed outline and have satisfied any other preparatory steps required by the instructor. Pre-requisite: LEGAL WRITING II. As with any course, Directed Research may be taken only once in a student’s academic program.
DRAFTING: REAL ESTATE TRANSACTIONS
(PROPERTY - 1050)
2 credits
This course provides intensive instruction in the drafting of real estate-related contracts and documents, including contracts of sale, deeds, mortgages, brokerage agreements and leases. Students learn how to translate a business deal into contract concepts, how to structure an agreement, and how to draft contract provisions clearly, precisely, and efficiently. Students will study New York State statutes and caselaw setting forth legal principles relevant to the drafting of key provisions. Students will be responsible for a series of written exercises, culminating in a full-length agreement at the end of the semester. Some negotiation is included. Grades will be based on several short-written assignments (totaling 30%), an initial and a revised draft of a full-length agreement (totaling 55%) and class participation (15%) Students will be required to complete an ungraded take-home midterm examination. This course satisfies the Advanced Practice Writing Requirement. Pre-/Co-requisites: REAL ESTATE TRANSACTIONS.
EMERGING ISSUES IN REAL ESTATE LAW SEMINAR (INTENSIVE)
(PROP)
1 credit
In this seminar, students will explore cutting-edge issues in real estate law and deepen their understanding of concepts related to the financing, development, ownership and operation of real estate not covered in depth in any other course. Topics covered will change from year to year to reflect the most recent developments and trends in real estate, and the instructor’s particular areas of expertise. Grades will be based on a final examination (75%) and class participation (25%). Pre-requisites for JD students: Real Estate Transactions and four additional credits of advanced PROP coursework. Enrollment requires permission of the Program Director.
ENVIRONMENTAL LAW
(ENVIRONMENTAL LAW - 1000)
3 credits
This course covers the legal responses to current environmental problems, including climate change, air and water quality, toxic substances, solid and hazardous waste and the preservation of parks, wetlands and the habitats of endangered species. The course starts with the common law of nuisance and the public trust doctrine, foundations of the current law. It then traces the development of federal and state environmental statutes and the administrative law that governs agencies implementing these statutes’ provisions. Grades are based upon a final examination.
EXTERNSHIP SEMINAR (LL.M.)
2 Credits
This 2-credit seminar is required when an LL.M. student is taking an Externship Placement during the fall or spring semesters. The students will be required to submit weekly time sheets and reflect on their work at the placement. The first thirty minutes or so of each class will be devoted to the students’ reflections. Students will be required to write a 2000 word paper of the type that would appear in a practice-oriented bar-type journal on a topic encountered during the placement, and present the paper to the class. Students will be required to attend three hours of continuing legal education on a topic relevant to the student's chosen area of practice and make an oral presentation to the class on what was learned. Grades will be based on 30%: 2000-word practice-oriented paper; 20%: Oral in-class presentation of practice-oriented paper; 20% oral presentation of CLE learning; 20% weekly reflection papers and any oral presentations thereof; and 10%: class participation. Co-requisite: EXTERNSHIP PLACEMENT (ADVOCACY AND LEGAL SKILLS - 2015).
INTERNATIONAL ENVIRONMENTAL LAW
(ENVIRONMENTAL LAW - 1030)
(INTERNATIONAL LEGAL STUDIES - 1030)
3 credits
This course surveys the leading legal instruments and approaches to dealing with regional and global environmental problems. It will address transboundary air and water pollution, mass catastrophes, protection and allocation of freshwater supplies, stewardship of ocean resources such as fisheries, protection of the atmosphere (including the ozone layer and climate change), transport and trade in hazardous chemicals and waste, and biodiversity. The course will explore the environmental side of new approaches to economic regulation, including the world trade regime, and emerging ideas about sustainable development. Grades are based upon a final examination.
LAND USE PLANNING
(PROPERTY - 1010)
3 credits
This course provides an analysis of the legal and administrative aspects of land use control, and of the problems and techniques of urban planning. The course includes a study of building codes, zoning, subdivision, public acquisition of land tax controls and urban redevelopment. Grades are based upon a research paper of law review quality on a topic approved by the faculty member conducting the seminar.
REAL ESTATE DEVELOPMENT
(PROPERTY - 1040)
2 credits
This course examines the law and practice of real estate development, including substantive discussion of such areas as: assemblage of a development site; entitlements, air/development rights and permits; ownership structures; construction financing; agreements with contractors, designers, property managers and leasing agents; and exit strategies. Students will be introduced to the economic considerations associated with a real estate development. Special attention will be given to laws and regulations that impact the real estate development process in New York City. Students will also be instructed on ethical issues that arise in this area of practice. Grades are based upon a midterm (20% of grade) and a final examination (80% of grade). Students would benefit from taking REAL ESTATE TRANSACTIONS prior to or concurrent with enrollment in this course.
REAL ESTATE FINANCE
(PROPERTY - 1070)
3 credits
This course examines the law and process of real estate finance in its many forms. It covers topics distinct from those covered in Real Estate Transactions. Topics will include commercial real estate financing techniques such as leasehold mortgages, mezzanine loans, preferred equity, CMBS and REITs. The course will also address participations, syndications, and intercreditor arrangements. Federal and state consumer protection laws affecting consumer mortgages will be covered, as will foreclosures, in both the commercial and residential contexts. Students will learn to review and analyze key provisions in financing documentation from the perspective of multiple stakeholders. Students will also be instructed on ethical issues that arise in this area of practice. Grades will be based on a midterm (10%) and a final examination (90). Pre- or Co-requisite: REAL ESTATE TRANSACTIONS.
REAL ESTATE WORKOUTS & BANKRUPTCY
(PROPERTY - 2030)
2 credits
This course will examine the consequences of real estate defaults, emphasizing the major current problems faced by real estate mortgagees, landlords, tenants and partners in default situations and mitigating drafting techniques that may be employed in the documentation stage. Among the areas covered will be: negotiating and drafting a workout agreement; lender liability; cram down of bankruptcy plans including classification and “new value” issues; and effect of bankruptcy of a real estate partner. Grades are based upon a research paper and a final examination. Pre-requisite for J.D. students: CREDITORS' RIGHTS OR REAL ESTATE FINANCE or BUSINESS BANKRUPTCY REORGANIZATIONS.