<p> This challenging yet accessible casebook examines the legal, business, and tax issues of real estate financing through a transactional and interdisciplinary approach. Written by scholar-practitioners, <b>Modern Real Estate Finance and Land Transfer: A Transactional Approach, Fourth Edition</b>, uses real-world examples to illustrate the lawyer’s role in both residential and commercial real estate transactions. </p> <p> <b>Among the attributes that make this class-tested casebook a success:</b> </p> <ul> <li> a <b>sophisticated, yet teachable</b> style </li> <li> <b>thorough explanations</b> of the increasingly complex legal, business, and tax issues surrounding real estate transactions </li> <li> the <b>transactional and interdisciplinary approach</b> demonstrates the general rules of law that govern a given real estate transaction, the rules’ underlying rationale or policy, and how (or whether) a rule can be superseded by the mutual consent of each party </li> <li> <b>real-world examples</b> that help foster practical skills required of attorneys in real estate firms and <b>clear explanations</b> that demonstrate rules of law that govern a real estate transaction </li> <li> <b>questions and planning problems</b> that allow students to examine issues in the context of relevant transactions or documents </li> <li> a <b>topical and chronological organization</b> that covers both real estate and real estate finance and follows the lending cycle in modern real estate financing </li> </ul> <p> <b>Special features of the Fourth Edition, completely updated to reflect changes in the law, include:</b> </p> <ul> <li> <b>bankruptcy reform law changes</b> </li> <li> discussion of the popularization in recent years of <b>“exotic” forms of financing</b>, particularly in residential markets </li> <li> <b>changes in the prepayment area</b> </li> <li> <b>treatment of the so-called mortgage meltdown in 2007</b> </li> <li> <b>updated and substantially rewritten materials on the economics of real estate investments, selection of the ownership entity, and securitization</b> </li> <li> <b>new title insurance forms</b> </li> <li> consideration of <b>mold—the “new asbestos”</b> </li> <li> an <b>updated Teacher’s Manual</b> </li> </ul> <p> <b>Modern Real Estate Finance and Land Transfer: A Transactional Approach, Fourth Edition</b>, is the perfect casebook for professors who cover the complex financial and tax aspects of real estate law—whether in a basic real estate course and or an advanced seminar. </p> <p> </p> <p> </p> <p> </p>
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Uninspiring, unless you like this stuff
Review Date: August 27, 2004
Reviewer: Lexi F. Pildock, Shreveport, Louisiana
Leave it to the Uber's and Franks of the world to find meaning in this 900-page behemoth that makes the IRS tax code look like a first attempt at a Haiku by a retarded child who has the emotive skills of Dustin Hoffman in "Rain Man" while dressed like Dustin Hoffman in "Tootsie."
I for one, look to areas other than Real Estate Finance for my vision. But I have read this work, and have endeavored to provide an objective review, so alas I will push on....
Madison's book reminds me of a poem I can't remember, in a song that might never have existed, that I heard in a place I'm not sure I've ever been. However, it is clear that within the realm of finance and art lies the essence of "The Transaction." Madison, in an allegorical throwback to, what I presume is "Aesop's fables," conjures images in the traditional law and economics school that sharply contrasts with the results of his views. But otherwise, it gets its point across, and, heck, even geniuses pay through the nose for unmarketable title every once in while, right? Am I right?
Now I'm not saying that Madison is a "bad man," I assume reasonable people can disagree on the meaning of that term. I am only saying that rather than looking at his glasses with a quizzical expression, he would do well to don them and look out onto his creations.
Lexi F. Pildock
Madison's Genius Knows No Bounds
Review Date: March 7, 2004
Reviewer: Uber, Paris, France
Truly a fascinating piece of work. It appears Mr. Madison is constrained only by the jealousies of others and the limited vision of his peers. This book changed my life. It will change yours too.
Better than researching title insurance...
Review Date: September 2, 2003
Reviewer: , Race Notice, Blackacre
To those who know him, Mike Madison presents the proverbial mystery wrapped within an enigma: fiercly guarded, yet strangely open with regard to his dangerous ideas on antiquated doctrines such as the Rule in Shelley's case.
But it is this sense of "danger" that pervades Madison's entire work. The sense of the fear that his ideas could engender in some people. It is almost as if Madison is thumbing his nose at the powers that be; daring them to challenge him head-on to a Socratic battle between the legal giants of upstate New York, in an epic battle that will leave only one opinion affirmed, whilst the other will taste the bitter order of defeat, with no reargument available.
Madison discusses, in depth, his view on how one should approach a late-season transaction. "Visualize a blank sheet of paper," he preaches, "and draw three perfectly vertical lines equidistant along the page." It is within this triumverate of linearization that the battle takes place; the opposing ideas on the periphery, and the result in the center.
It is the simple elegance of such a system that validates Madison's research; after all, two hunters will catch a fox more quickly by flanking the beast from opposite positions. Who will ultimately acquire possession is the crux of the debate. (See Pierson v. Post). However, Madison teaches that both would be better off by dividing the beast in two, and feasting upon the bloody entrails in a celebration of brotherness, in the great wisdom of Solomon.
In short, Madison has only benefitted mankind with his latest work, and we would all do well to thank him for it.
The Bible for Real Estate
Review Date: February 28, 2003
Reviewer: John Frank,
Extremely good coverage of real estate transactions, from simple to very complex. Excellent analysis of tax aspects and tax shelters.
It's like a treatise on acquiring title to wild animals!
Review Date: December 23, 2001
Reviewer: ,
Madison goes on and on about silly grown men scampering after noxious beasts. Who has legal possesion? Who cares? After the first chapter I started daydreaming about the month I spent in Turkey held captive by a syphillitic transvestite ENT doctor.
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Uninspiring, unless you like this stuff
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