APPLIES TO ACADEMIC YEAR 2013/2014

EMS 3521 Real Estate Law I

Responsible for the course
Thorunn Falkanger

Department
Department of Accounting - Auditing and Law

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
The students will acquire knowledge about the legal regulation of the real estate business.

Learning outcome
Acquired knowledge
The aim of the course Real Estate Law I is to give students an understanding of the legal rules that determine the regulatory framework for real estate agents. They will gain knowledge about contract law and the rules of law regulating the legal relations between the seller and buyer of real estate when the contract is entered into through a real estate agent.

The students shall have an adequate understanding of the topics that are covered by the discipline. The terms knowledge, in-depth insight and understanding indicate which specialist level is required. The most extensive knowledge is required when the term understanding is used.

Acquired skills
The aim of the course Real Estate Law I is that the students within the regulatory framework for practicing the real estate profession shall be able to handle tasks in a real estate agency associated with contract signing between the seller and buyer of real estate, property leases, as well as an understanding of statutory requirements for marketing of real estate agencies and real estate.

Reflection
In order to be able to practice their tasks in a manner that safeguards the interests involved in a property transaction, a real estate agent must have an appropriate ethical reflection and attitude as well as professional knowledge within the legal topics discussed in the course.

Prerequisites
JUR 3430 Business Law or JUR 3420 Marketing Law.

Compulsory reading
Books:
Bergsåker, Trygve. 2003. Kjøp av fast eiendom : med kommentarer til avhendingsloven. 4. utg. T. Bergsåker : I samarbeid med Norges eiendomsmeglerforbund
Bergsåker, Trygve. 2009. Eiendomshandel gjennom megler : avtaleinngåelse og avtalebrudd. 3. utg. Gyldendal akademisk
Langfeldt, Sverre Faafeng og Tore Bråthen. Lov og rett for næringslivet. Siste utg. Universitetsforlaget : Focus forlag. Kap 1, kap. 5 og kap. 16.
Rosén, Karl og Dag Henden Torsteinsen. 2008. Eiendomsmegling : rettslige spørsmål. 2. utg. Gyldendal akademisk

Recommended reading

Course outline
1. Introduction to law
This will include a review of the legal topics in the programme, legal method, the structure of the court system, the importance of practice of the complaints committee, directives from the Financial Supervisory Authority of Norway.
Compulsory literature: Langfeldt, Sverre F. and Tore Bråthen. Lov og rett for næringslivet. Oslo: Focus Forlag and Universitetsforlaget. Latest ed. Ch. 1.

2. Real estate law
Legal rules on the practice of the real estate profession, including the new Estate Agency Act, regulation of real estate agencies, rules on marketing and ethical rules.
Mandatory literature: Dag Torstensen and Karl Rosén: Eiendomsmegling – rettslige spørsmål, Gyldendal Akademisk 2nd ed. Oslo 2008.

3. Law of property rights and obligations
Basic principles for contract signing and the sources of law situation in contract law. Legal issues associated with contract formation through a real estate agent, including proxies and bidding.
Relevant rules in the law on disposal of real property.
Compulsory literature: Bergsåker, Trygve. 2009. Eiendomshandel gjennom megler: avtaleinngåelse og avtalebrudd. 3rd ed. Oslo: Gyldendal Akademisk.
Bergsåker, Trygve. 2003. Kjøp av fast eiendom: Med kommentarer til avhendingsloven. 4th ed. Oslo: T. Bergsåker.
Langfeldt, Sverre F. og Tore Bråthen. Lov og rett for næringslivet. Oslo: Focus Forlag og Universitetsforlaget. Siste utg. Kap 5

4. Government and administrative law
Basic rules on the organization of the government, the county authorities and municipal authorities. The administration act rules on handling administrative cases and the open files act rules on free access to information.
Compulsory literature:
Langfeldt, Sverre F and Tore Bråthen. Lov og rett for næringslivet. Oslo: Focus Forlag and Universitetsforlaget. Latest ed. Ch. 16.

Computer-based tools
Computer-based tools are not required in this course.

Learning process and workload
The course consists of 45 lecture hours covering the various topics in the syllabus. The lecture plan gives a detailed description of the topics covered.

As part of the teaching programme the students are divided into small discussion groups and will work on assignments associated with each topic. The assignments will be discussed and reviewed in class after the discussion group work. The lecture form of teaching requires that the students before each lecture have studied the syllabus and the rules of law for the topic in question. The students are required to bring the code of laws and other study aids to the lectures and become familiar with them while studying the various topics. Parts of the syllabus must be studied through self-tuition.

Coursework requirements
One mandatory hand-in assignment is set in the course, and will be graded by the lecturer or another qualified person.

Recommended workload in hours