a.  

International Institutional Connections

Using the Internet to Bring Guest Lecturers into the Classroom

 

Carl J. Circo, University of Arkansas, Fayetteville

Joyce Palomar, University of Oklahoma

 

1.       The Course

 

1.                 This presentation draws on experience from teaching International Aspects of Real Estate Transactions.  Pat Randolph, of the University of Missouri-Kansas City, and Joyce Palomar, of the University of Oklahoma, first envisioned this highly specialized course for students interested in international real estate development.

 

2.                 Remote Lectures via the Internet

 

1.       The Course Plan.  The course examined the representation of transnational real estate investors-both U.S. investors in foreign real estate markets and foreign investors in the U.S. real estate market. We examined comparative real estate law; national laws affecting real estate investment and development, including restrictions and regulations governing foreign investment; international hotel and resort development; the U.S. Foreign Corrupt Practices Act; international franchise; international project finance; international construction law; international environmental law and more.

 

                   2.       Technology Challenge.  We faced two major challenges for

which we turned to digital age technology: (1) how to bring sufficient expertise into the classroom in Kansas City to teach the highly specialized topics involved; and (2) how to justify the law school's dedication of resources for a subject of interest to a limited number of students.

 

                   3.       The Solution.  We decided to draw on the expertise of full-

time and adjunct professors from around the country as guest lecturers on specialized topics and to bring them into the classroom via an Internet remote learning application–in this case Centra Symposium.

 

4.       Course Details.  A copy of the final course syllabus is attached.

 

2.       Advantages and Disadvantages of the Format.

 

1.       These are the main advantages and features of Centra Symposium as applied to this course:

·                      anyone with access to the Internet could join the class, either as a presenter or as a student;

·                      the only special equipment requirements were a microphone and, for presenters, a web camera;

·                      Centra allows a simultaneous live view of the presenter and display of other media, including PowerPoint, documents, Internet pages, and a whiteboard;

·                      the system allows simultaneous co-presenters in multiple locations;

·                      Centra facilitates interactive communication between teacher and students;

·                       the system is available to students continuously and can be used in the same manner as a web course; and

·                       the most important advantage for the UMKC class was that Centra was provided by the University without charge to the law school for that limited pilot project.

 

2.       Disadvantages:

·                       the system is not completely intuitive, but requires some technical knowledge and advance technology preparation;

·                       we experienced mild delay in voice transmission (“mild” lasted up to 6 seconds for trans-Atlantic transmission);

·                       the available options did not always deliver as advertised (CD recording, on-line playback, sizing of video view all proved problematic);

·                       in some situations, video conferencing might have been easier; but video conferencing also would have been more expensive, particularly for guest presenters, it would not have accommodated all remote attendees, and it would not have provided the same options for multi-media displays.

·                       if the law school had been required to purchase the license, or pay its share of the license fee, it would have been difficult to justify the cost for this class alone.

 

3.        A Demonstration

 

We will demonstrate a segment of the class that will explore and illustrate many of the most useful features of Centra Symposium.

 

4.       Conclusion

 

An Internet remote learning application such as Centra Symposium may make it feasible for several faculty members from around the country or the globe to collaborate to co-teach highly specialized classes on an efficient and cost-effective basis.

 

SYLLABUS FOR INTERNATIONAL ASPECTS

OF REAL ESTATE TRANSACTIONS—UMKC Law 8751

(Final Revision, 4/15/03)

This course includes a series of lectures, many of them presented remotely by guest lecturers using Internet-based Centra Symposium.  The names of guest lecturers joining the class through Centra Symposium are underlined.  The order and scope of topics listed in this syllabus remain subject to change to accommodate the guest lecturers.  Unless otherwise noted, the reading assignments are those posted to, or announced on, the class website.

 

1.       Introduction—Colin Picker and Carl Circo

 

Background on public and private international law

An introduction to investment in Mexico's real estate

Discussion—cross-border sale of a factory problem

 

2.       Comparative Legal Systems Involving Real Estate—Joyce Palomar (Univ. of Oklahoma)

 

Differences between Civil and Common Law Systems

Emerging Economies Land Policies

 

3.       Land Title Security--Joyce Palomar (Univ. of Oklahoma)

 

Registration Systems

Recordation of Title Evidence Systems

International Title Insurance

 

4.       International Construction and Design Issues—Carl Circo

 

U.S. Domestic Practices

Globalization of Construction and Design Practices

International Contracting Practices

 

5.       International Franchise—Gary Batenhorst (Omaha, NE.—in person)

 

Introduction—registration and disclosure laws             

Franchise practices in Canada and Latin America

Franchise practices in Europe

Franchise practices in Asia

 

6.       Project Finance –Tom Kaufman (Washington, D.C.)

 

Financing International Real Estate Development

Sources of Financing

Project Finance Documentation

 

7.       Conflict of Laws—Colin Picker

 

Choice of law (private international law)

Re-examining the situs rule for real property

Choice of forum

International arbitration

Enforcement of judgments

 

8.       U.S. Taxation of International Business Transactions—Jason Reschly

 

U.S. Taxation

Foreign Taxation

Tax Treaties

 

9.       Introduction to Outgoing and Incoming Investments— Carl Circo

 

Counseling the U.S. client investing in projects abroad

Counseling the foreign client investing in U.S. real estate

 

10.     Outgoing and incoming investments (continued)

 

International Investment in U. S. Real Estate —David Richards (New York)

Federal disclosure laws

State qualification and disclosure laws

Counseling the foreign investor

 

Investments in real estate projects abroad—David Tang (Seattle)

Finding and understanding the local real estate laws and practices

Investment vehicles

Real estate finance in China and Scotland—case studies

 

11.     International Hotel and Resort Projects, K.C. McDaniel (New York)

 

Hotels in the international economy

How U.S. and foreign hotel and resort transactions differ

Legal and structural guarantees

 

12.     Environmental Issues in International Projects, Carl Circo

 

Overview of environmental law issues presented by international investments

The Context:  Geography, Culture, and Society

Specific environmental considerations in international business transactions

 

13.     International Leasing and Acquisitions— Gary Watson (London) & Mary Ann Marino (Boston—in person)

 

Comparison of U.S. and U.K. leasing practices

Negotiating a U.K. lease on behalf of a U.S. tenant—a case study

Legal issues in a multi-property European acquisition

 

14.     Islamic Financing—Joan Story (San Francisco)

 

Islamic investment principles

Islamic investors and U.S. real estate

 

15.       Student Presentations