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Texas - Law of Contracts - Real Estate Questions with Solutions
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Texas - Law of Contracts - Real Estate
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Texas - Law of Contracts - Real EstateA sewer system is NOT - answerIncluded in the description of land
Joint Tenancy - answerIf one tenant dies, the decedent's share of interest passes to
surviving tenant(s).
Manufactured Housing - answerConsidered Real Property in Texas if Owner chooses to
treat it as such.
Conveyance Deed - answerTransfers permanently fixed objects attached to a home
such as a permanently attached deck.
Abstract of Title - answerA summary of title search found in public records.
When a joint tenant passes away the deceased property transfers to - answerSurviving
joint tenant
Indestructibility is - answerA physical characteristic of land
Fee simple ownership, shared walls, and common areas are similar to - answerTown-
house ownership
A business organization may NOT - answerOwn property as a tenancy by the entirety
Police power is an example of a governmental power such as - answera city appointing
its citizens to zoning and building boards to create codes and zoning ordinances.
Mortgage liens are - answerVoluntary liens
Mechanics' liens - answerare not voluntary liens.
Estates in real property are - answerCreated by a deed and or a bill of sale
When real estate taxes are not paid on time a - answerLien will be filed by the taxing
authority
Easement by Necessity - answerJane and Bill divided their 60-acre property into three
20-acre parcels (lots A, B, and C). A and C can only access the public road through B.
The buyers of A and C will probably be granted this by court action.
, Accretion is land being acquired by - answerDeposits from a river and or stream
RESPA - answerReal Estate Settlement Procedures Act is a federal act and applies to
any residential real estate transaction involving a new first mortgage loan. It is designed
to ensure that the buyer and seller are both fully informed of all settlement costs.
When an executory contract is in place and a zoning change takes place the -
answerContract becomes void
A seller promised to sell and a buyer agrees to buy for a certain amount and out in
writing; this is called a - answerBilateral contract
A breach of contract is NOT - answerWhen an agent who has a listing cannot produce a
ready, willing and able buyer
The Broker-Lawyer Committee - answerDrafts but does not publish/promulgate forms.
A listing agreement is - answerAn employment contract
Size type and age are - answerSome items of information needed for a listing
agreement
Leasehold estates: - answerEstate for years, period to period, and or estates at will
Leasehold - answerA tenants right to occupy real estate during the term of a lease,
generally considered a personal property interest, although a long-term lease may be
eligible for treatment as real property for financing purposes.
Estate for years - answerAn interest for a certain, exact period of time in property that
continues for period to period, week to week, month to month, or year to year
Estate at will - answerAn estate that give the lessee the right to possession until the
estate is terminated by either party; the term of this estate is indefinite.
A valid lease can be executed by - answerA 44 year old woman who is physically
handicapped
Factual statements can be inserted in - answerSpecial par.11
Personal property that is to - answerRemain with the real property is addressed in an
addendum
Before title passes the - answerContract is in an executory status
A voidable contract may be disaffirmed by - answerOne party to the contract
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