This seminar will explore the role of lawyers in the real estate development process. Students will analyze, draft and revise documents for hypothetical development projects, engage in mock negotiations and plan legal strategies for the representation of hypothetical clients. Although the development projects and clients will be hypothetical, the documents will be adapted from actual projects, and several class sessions will be attended by actual developers and practicing lawyers. Students will also be exposed to the financial aspects of development projects to gain a better understanding of the clients’ objectives. The goal of the seminar is to provide hands-on experience to aspiring real estate lawyers (who might someday want to pursue their own development projects).
The documents and topics to be considered will include the following: real estate purchase agreements and options (from the buyer’s perspective); conditions to closing; title review and other due diligence; zoning issues and approvals; deal economics; easements and use restrictions; architect and construction contracts; loan agreements and mortgages; commercial and retail leases; real estate sale agreements (from the seller’s perspective); and ethical and legal liability issues.
Students will be required to complete five writing/drafting assignments and to participate in two mock negotiations. Students may occasionally work in groups, but most grading will be based on individual effort and performance.