Texas "Principles 1" (study & HW) Champions School of Real Estate study guide
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Course
Texas
Institution
Texas
Texas "Principles 1" (study & HW) Champions School
of Real Estate study guide
Trec Commision Membership ___________________ has 9 Members (6 brokers, 3
public) appointed by governor. They serve 6 year staggered term.
Texas Real Estate Borker Lawyer Committee ________________ has 13 Members
(...
Texas "Principles 1" (study & HW) Champions School
of Real Estate study guide
Trec Commision Membership ✔✔ ___________________ has 9 Members (6 brokers, 3
public) appointed by governor. They serve 6 year staggered term.
Texas Real Estate Borker Lawyer Committee ✔✔ ________________ has 13 Members
(6 brokers, 6 lawyers, 1 public)
Licensed by TREC ✔✔ -18 years old
-a US citizen or lawfully admitted alien
resident of the state
Above are general Eligibility Requirements to be...
buying, selling or leasing an easement pertaining to telecommunicaton, utility, railroad
or pipeline services. ✔✔ A certificate is required separate of the license when...
Payments into Trust Account ✔✔ ________________ ensures the availability of a
sufficient amount to pay on anticipated claims on the trust account.
acting negligently or incompetently, commingling money and soliciting or selling offers
for the sale of real estate by means of a lottery ✔✔ A commission may suspend or
revoke a license for...
the district court in the county where the administrative hearing was held. ✔✔ In order
for an appeal to be made on a decision by the commission, it must be taken to...
"Information about brokerage services" form ✔✔ When dealing with a client it is
mandatory to give them a copy of the...
Fidelity, Integrity, Competency ✔✔ The three Canons for professional ethics and
conduct for Real Estate Licensees are...
That agent has to join the "NAR" National Association of Realtors ✔✔ Under what
circumstances can a person be called a "Realtor?"
FEDERAL LAW where the only protected class was Race. No one can discriminate
because of RACE. ✔✔ What was the Fair Housing Laws or Civil Rights Act of 1866?
Civil Rights Act of 1968 ✔✔ What amended the Civil Rights Act of 1866 to include race,
color, national origin, and religion?
,Civil Rights Act of 1974 ✔✔ What amended to include Sex (Male or Female)?
Civil Rights Act of 1988 ✔✔ What amended to include Handicap and Familial status?
Handicapped ✔✔ having a physical or mental disability (including hearing, mobility,
visual impairment, chronic mental illness and AIDS) that substantially limits one or more
major life activities is defined as...
Steering ✔✔ Illigal practice of directing home seekers to a particular neighborhood
based on fair housing protected classes.
refuse to take the listing ✔✔ If a seller asks agent to discriminate, the agent must...
ADA Americans with Disabilities Act ✔✔ Enacted in 1992 and deals with commercial
property only
Personal Property ✔✔ Things not attached to the land are considered...
Chattel ✔✔ also known as Personal Property
Bill of Sale ✔✔ How is Personal Property sold?
Personal Property ✔✔ Plants (Annual or fructus industrials or emblements) are
classified as...
Appurtenances ✔✔ right or privilege to land that goes with the land when ownership
changes such as parking lot spaces, easements, right or ways
Fixture ✔✔ was personal property but then became real estate because it has been
attached to the land
Tests of a fixture ✔✔ method of attachment (annexation)
Fitness or adaptation to property
Intention of the parties
Trade fixture ✔✔ attached to the property under a commercial lease
Riparian Rights ✔✔ What are rights to another's land who borders a stream or river?
Littoral Rights ✔✔ What are rights to another's land who borders a lake?
Accretion ✔✔ What is it called when land is increased in size because of natural deposit
of rock and soil usually caused by water movement?
, Alluvion ✔✔ the land that has been created by Accretion
Reliction ✔✔ dry land that results when water withdraws from the land
Avulsion ✔✔ sudden removal of land by water
Erosion ✔✔ the gradual wearing away of land and rock by water
Physical Characteristics of land ✔✔ immobility, indestructibility, and non-homogeneity
are all...
economic characteristics of land ✔✔ scarcity, modification, improvements, permanence
of investment, area preference.
Situs ✔✔ Area Preference is called ____________.
Four types of legal descriptions of land ✔✔ Metes and Bounds, Rectangular survey
system, recorded plats, and reference to documents other than maps are all...
metes and bounds ✔✔ legal land description most used in the US using distance and
direction to define and describe the boundaries of a property
Rectangular survey system ✔✔ legal land description using latitude, longitude lines,
standard parallels and base lines to divide the earth into ares
640 ✔✔ How many acres in each square mile
43560 ✔✔ How many square feet are in an acre?
Recorded plat ✔✔ Legal land description which divides larger plats into smaller plots
when land is divided in lots.
Police Power ✔✔ ________________ in real estate applies to planning laws, building
codes, fire codes, rent control and health codes.
Eminent Domain ✔✔ What is it called when government can take privately owned real
estate for public use?
condemnation ✔✔ the process of eminent domain is called...
Escheat ✔✔ __________ is when one dies without a will or heirs the government takes
it as it no longer has an owner basically going back to the state.
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