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Liens, Taxes & Foreclosures New

Course Description

Course Description

This module discusses liens, taxes and foreclosures. There are many types of liens, as well as several kinds of taxes, that can attach to a parcel of real estate. When borrowers default on a debt, foreclosure is the process by which lienholders collect the unpaid portion of a debt. Because liens represent an interest in real property, it is crucial that real estate licensees develop an in – depth understanding of liens and lien – related issues. Such knowledge also helps licensees to better advise buyers and sellers.

The first lesson presents a general overview of liens. It explains the classification of liens and discusses the types of non – tax liens. Lesson two discusses taxes and tax issues, including ad valorem taxes, real estate tax computation, special assessments, real estate transfer taxes, federal income taxes, capital gains taxes and tax shelters for homeowners and investors. It also discusses the priority of liens. Lesson three addresses the methods of foreclosure, redemption, deficiency judgments, tips for homeowners facing foreclosure and fraudulent behaviors related to foreclosure.

The conclusion of this module presents real world dilemmas and applications of the information presented. As the student completes the module, he or she should try to paint a big picture of the issues surrounding liens, taxes and foreclosures, which the module addresses with comprehensive questions, activities and case studies.

LEARNING OBJECTIVES

Upon completion of this module, the student will be able to.

  • Define the terms lien and tax lien and understand their operation.
  • Recognize the different types of liens and know how their priority is established.
  • Identify and describe types of non – tax liens.
  • Understand how ad valorem taxes and special assessments are levied.
  • Know how homeowners and investors can save on federal income taxes and capital gains taxes through the use of tax shelters.
  • Describe and list different types of foreclosures.
  • Recognize alternatives to foreclosure and common scams related to foreclosure.

Regulatory Requirement

Our staff works diligently to provide you with an analysis of current mandates and legislation that affects you the licensee. All information pertaining to the Mandatory Continuing Education requirements can be found on the State Requirements page. You can find the link to this page on the upper Navigation bar on the Course Catalog.

Course Completion

Any applicable completion certificates or affidavits can be printed after completing the course and final exam.

Testing

Quizzes – There is a quiz at the end of each lesson to test comprehension of the subject matter.

Final Exam – Passing Grade 70%. You can take the final three times.

About The Subject Matter Expert

This course is created and brought to you by 360Training, a leading provider of accredited e – learning courses to working professionals through today’s leading schools, associations and corporations. 360Training’s high quality e – learning courses assist thousands of working professionals each month in a wide range of disciplines to succeed in today’s marketplace, renew licenses, acquire certification or prepare for a new profession.

Support

If you have any requests for technical support please contact the 360Training Support Department located in the HELP section of your account profile. Technical support inquiries are handled immediately.

State Requirements

Our real estate CE courses meet the requirements of the Michigan State Board of Real Estate Brokers & Salespersons.

PRICE:

$29.95

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