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Introduction to Legalities and Legislation within the Real Estate Business

Introduction to Legalities and Legislation within the Real Estate Business

MQF Level 4

Date – TBC
Duration – 10 hours – 2 weeks
Accredited – Yes
Price – Price (Local/EU) – Euro 150

Module Description

This module introduces learners to legislations that regulates the operation of a real estate intermediation business together with general legalities which compose the real estate business law.  The learner will also be introduced to contract wording and contract process required for real estate transactions.

Entry Requirements

Students should be in possession of a minimum School Leaving Certificate MQF Level 3

AND/OR

Be in possession of one of the following:

(a) Secondary Education Certificate in English as issued by Matsec at grade 5 or higher.”

(b) Or IELTs 6.0

(c) Or an equivalent qualification.

Audience

Learning Outcomes

At the end of the module/unit the learner will have acquired the responsibility and autonomy to:

  1. Operate in line with the “Real Estate Agents, Property Brokers and Property Consultants Act (Chapter 615)”
  2. Apply and comply with the “Real Estate Agents, Property Brokers and Property Consultants Act (Chapter 615)” during the execution of the service.
  3. Understand the “Land Registration Act” and how it is operated.
  4. Analyse contractual obligation of both the Vendor and the Purchaser as per “Contract Law”
  5. Understand the contractual obligation between Tenants and Landlords together with different forms of lease agreements used in Rental properties
  6. Guide stakeholders according to Civil law and “flag” where there could be a breach of such law within the service being offered.
  7. Compile and conduct KYC and Due Diligence in line with “PMLFT” Legislation and “flag” any suspicious transactions.
  8. Assess that buildings for which service is being offered are in line with Planning, BCA, Sanitary and related legislation.
  9. Collects and stores data in line with “GDPR” legislation.
  10. Capable of distinguish different contract types, promise of sale (konvenju), deed of sale and transfer by way of donation.
  11. Understanding different property “Titles” and follow the process of Title verification done by the Notary Public.
  12. Analyse compliance with servitudes and common areas (condominium) legislations.
  13. Capable to ensure that the property carries a peaceful possession, free from warranty restrictions and other forms of property burdens which will restrict property transfer

At the end of the module/unit the learner will have acquired the following skills:

  1. Practice the service in line with “Real Estate Agents, Property Brokers and Property Consultants Act (Chapter 615)”
  2. Assess with the “Real Estate Agents, Property Brokers and Property Consultants Act (Chapter 615)” during the execution of the service.
  3. Identify property lands registration requirements in line with “Land Registration Act” and give correct information to the Notary Public and other stakeholders.
  4. Communicate to parties involved in contractual obligations as per “Contracts Law”.
  5. Guide stakeholders according to Civil law and “flag” where there could be a breach of such law within the service being offered.
  6. Identify and comply with KYC and Due Diligence requirements in line with “PMLFT” Legislation and “flag” any suspicious transactions.
  7. Evaluate that buildings for which service is being offered are in line with Planning, BCA, Sanitary and related legislation.
  8. Collects and stores data in line with “GDPR” legislation.
  9. Capable to assist Vendor and Purchaser from promise of sale to deed of sale process, be aware of different property “Titles” conducted by the Notary Public, and ascertains that the vendor and purchaser meet their contractual obligation throughout the process.
  10. Identify that the property is free from any incumbencies and that any warranties will be waived at deed of sale time.
  11. Assists Purchasers on any servitude, condominium legislation compliance and different ground rent if applicable whilst guiding vendor on such matters prior to deed of sale.
  12. Capable to See through Title verification done by the Notary Public and communicate findings with parties where applicable.

Assessment

This module shall be assessed by way of an assignment.  Learners must obtain a minimum of 50% of the total mark to successfully pass from the module. In the case that learners do not pass on the first try, learners can re-sit the examination. In the case of recurring failure, learners shall be asked to re-do the module.

Assignment

Intake dates

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