Specific Expectations
By the end of the program, students will:
Real Estate Concepts
F1.6 Show how ownership works in Monopoly through the acquisition of properties, payment of purchase prices, and obtaining property deeds.
Teacher supports:
- Use the Monopoly Game as a hands-on tool to demonstrate the process of acquiring properties, making purchases, and obtaining property deeds.
- Relate in-game ownership principles to real-life methods of acquiring real estate, such as buying, renting, or leasing.
Examples:
- Monopoly Game:
- Acquisition: Players acquire properties by purchasing them from the game board.
- Purchase Prices: Players pay specific amounts to buy properties and invest in houses or hotels.
- Property Deeds: Deeds signify ownership and contain essential property details.
- Real-Life Methods:
- Buying: Owning real estate through a purchase transaction.
- Renting: Temporary ownership through periodic payments.
- Leasing: Long-term usage rights with periodic payments but without ownership.
Key concepts:
- Ownership in real estate involves the acquisition of properties, payment of purchase prices, and the formalization of ownership through deeds.
- Real-life methods of acquiring real estate include buying, renting, and leasing, each with distinct characteristics.
Note:
Understanding ownership principles is vital in the Monopoly Game program, where students simulate real estate transactions and experience the responsibilities and benefits of property ownership.
Sample tasks:
- In the Monopoly Game, guide students through the process of acquiring properties, making purchases, and obtaining property deeds. Discuss the significance of ownership in the game.
- Engage students in a discussion about real-life methods of acquiring real estate. Explore the advantages and disadvantages of buying, renting, and leasing properties.
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