Core Course
REC602 – Real Estate Law and Ethics
Course Unit Code: REC602
Type Of Unit: Core Course
Level of Course Unit: Second cycle
Year of Study: First year
Semester: First Semester
Number of ECTS Credits: 7.5
Mode of Delivery
Face to Face
Prerequisites
None
Course Objectives
The objective of this course is to equip students with a good understanding and critical knowledge of core legal principles and concepts of Real Estate Law that will be useful in their direction as professionals in the real estate sector and enable them to identify key issues arising and ways of effectively dealing with them.
Learning Outcomes
- Demonstrate comprehensive understanding of the core legal principles related to real estate ownership, development and transactions.
- Identify the position of mortgagors and mortgagees or other holders of security over immovable property.
- Explore and critically assess the special rules relating to sales of immovable property.
- Examine the key concepts and legal principles in the ancillary but equally important areas of compulsory acquisition, succession and rent control.
- Readily identify key issues arising in real estate matters, transactions or disputes generally and be able to consider ways of effectively dealing with these.
- Effectively assess the complexity or severity of commonly occurring real estate issues and be able to identify when further professional advice is needed.
- Analyse ethical dilemmas based on ethical principles and evaluate the morality of conduct or available courses of action.
Course Content
The function and core principles of Real Estate Law:
a) The basic rules of tenure.
b) Extent and limits of ownership and joint ownership.
c) Rights and charges on immovable property.
d) Division of land.
e) The diminishing concept of adverse possession.
f) Registration and title deeds.
g) Registration of long term leases, trusts and contracts.
h) Update of registrations.
i) Challenges against Land Registry decisions.
Transfer and mortgage of immovable property:
a) The basic rules governing transfers.
b) The basic rules on registration of mortgages.
c) The concept of a mortgage and the security created.
d) The rights and obligations of mortgagor and mortgagee.
e) Transfers, removals and annulments of mortgages.
f) Enforcement of mortgages and foreclosures.
g) Protection of enclaved purchasers.
Sales of immovable property:
a) The sales framework and protection of purchasers.
b) The sale agreement as a charge on the property.
c) The conditions for specific performance.
d) Rights of purchasers against creditors of the seller.
e) Assignment of a sale agreement.
f) The concept of a contract of assignment of security.
g) Contracts for exchange or part exchange of properties.
h) Basic comparison of the legal position in Cyprus with the legal position in England and Wales.
Basic principles of compulsory acquisition:
a) The procedure for compulsory acquisition of property.
b) The owner’s right to compensation.
c) Principles determining compensation.
d) Basic comparison of the legal position in Cyprus with the legal position in England and Wales.
Basic principles of succession:
a) Basic rules of succession.
b) Powers of appointed executors or administrators.
c) Basic comparison of the legal position in Cyprus with the legal position in England and Wales.
Basic principles of rent control:
a) The position of tenants of immovable property.
b) The concept of statutory tenancy.
c) Conditions of removability of statutory tenants.
d) Rent increase restrictions in statutory tenancies.
e) Trespass to land.
Ethics (general theme throughout the course):
a) Moral principles and values in the real estate sector.
b) Considerations of fairness, honesty and integrity.
c) Promoting ethical behaviour.
Course Features
Planned learning activities and teaching methods
Lectures; in-class discussion and debates; in-class exercises; problem sets; teamwork.
Assessment methods and criteria
Assessed exercise consisting of two weekly problem sets (500 max words each): 20%
Assignment (2.000 max words): 30%
Final Exam (2 hours): 50%
Readings
Textbooks: Lecture notes, lecture presentations, legislation, reported Case-Law
Optional textbook: C. Ioannou, Cypriot Law of Immovable Property (Nomiki Vivliothiki, 2014), T. Synodinou, Cypriot Property Law – Immovable Property (Sakkoulas Publications, 2011), C. Emilianides, Cypriot Law of Succession (Hippasus Publishing, 3rd edition, 2017)
Online sources: www.cylaw.org
English (UK) 
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