Commercial Core Law (3CE)

Description

The Florida Legislature passes and amends real estate laws and rules each year. Many of these changes can be daunting and overwhelming. Commercial Core Law will assist Realtors® by focusing on changes to state and federal real estate license law, highlighting both laws and rules. The course will give a brief overview of commercial transactions vs. residential; discuss commercial real estate agreements; and discuss legal issues unique to commercial transactions.

Objectives: After taking this class students will be able to:

• Recognize and distinguish between a commercial transaction and a residential transaction.

• Understand the basic premises of the license law which licenses the brokerage of commercial real estate.

• Understand the contents of a commercial listing agreement for either a lease or purchase.

• Understand the purpose of a Letter of Intent & Confidentiality Agreements.

• Understand the contents of an industry purchase contract for either a lease or purchase.

• Understand why there is not an industry commercial lease form.

• Understand and apply compensation contract concerns in daily practice.

• Understand the disclosure requirements in a commercial transaction and to appreciate and apply general concerns in a commercial real estate transaction that do not occur in residential transactions: ADA concerns, commercial tax concerns, long term agreements, assignments, the role of an attorney in a commercial transaction and the varied tools utilized by commercial practitioners, income/ expense reports, rent tolls and sub leases.