Trec promulgated contract - Study guides, Class notes & Summaries

TREC Promulgated Contract Forms #351 Final Exam 2023/2024

Texas Promulgated Contracts-CHAMPIONS STUDY Questions with Complete Solutions Latest Updated 2024/2025 The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - Correct Answer B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet b...

Drafts and revises contract forms for use in real estate transactions in the state of Texas. a. Promulgated forms b. Intentionally c. Puffing d. Deceptive Trade Practices Act e. Broker-Lawer Committee (Ans- E Forms published by TREC that are mandatory for license holders to use in real estate transactions int he state of Texas. a. Promulgated forms b. Intentionally c. Puffing d. Deceptive Trade Practices Act e. Broker-Lawer Committee (Ans- A Allows an aggrieved consumer t...

Promulgated Contract Forms (Exam Review) Questions and Answers (Graded A) Promulgated Contract Forms (Exam Review) Questions and Answers (Graded A) Promulgated Contract Forms (Exam Review) Questions and Answers (Graded A) TREC contract forms and their uses - ANSWER-- Sales Contracts: 1) One-to-Four Family Contract (Resale) 2) New Home Contract (Incomplete Construction) 3) New Home Contract (Completed Construction) 4) Unimproved Property Contract 5) Residential Condominium Contract ...

Describe at least two requirements under TRELA. (Ans- Act created by Texas Congress 1) All professionals are licensed 2) Use same policy, procedures, and forms. Providing correct documentations and forms during a transaction. TREC wanted to get things standardized. TREC was created in 1949 and that's when it began administrating TRELA. Real Estate Dealers license Act was enacted in 1939 for salesperson and brokers. TRELA is the present act which is active and administered until present day. ...

TREC Promulgated Contract Forms #351 Final Question and answer rated A+ 2023In the State of Texas who is allowed to use a customized real estate contract? The real estate brokerage company The salesperson The broker Lawyers licensed to practice in Texas Lawyers licensed to practice in Texas Marcy is 17 and married. Her spouse is stationed in the Middle East. She purchased a home shortly before Stan, her husband returns to the United States. Select a problem that exists with this situ...

TREC Promulgated Contract Forms #351 Final Exam 2023/2024 In the State of Texas who is allowed to use a customized real estate contract? The real estate brokerage company The salesperson The broker Lawyers licensed to practice in Texas Lawyers licensed to practice in Texas Marcy is 17 and married. Her spouse is stationed in the Middle East. She purchased a home shortly before Stan, her husband returns to the United States. Select a problem that exists with this situation. Offer and acc...

TERLA (Ans- - Texas Real Estate License Act - Created in 1939 TREC (Ans- - Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center (Ans- - Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): (Ans- - One-to-Four Family Residential Contract (Resale) - New Home Contract (Completed Construction) - Residential Condo Contract (Resale) - New Home Contract (Incomplete Construction)...

Law of Contracts - CHAMPIONS School of Real Estate THE PURPOSE AND FOCUS OF THE LICENSE ACT, AND OF TREC, IS TO PROTECT THE __________________. PUBLIC TREC ESTABLISHED THE _____________________________________ TO WRITE THE RESIDENTIAL CONTRACT FORMS THAT ARE THEN PROMULGATED BY TREC. BROKER LAWYER COMMITTEE ___________________________ MEANS PUBLISHED, OR MADE OF PUBLIC RECORD, AND THESE FORMS ARE THEN MANDATORY FOR AGENTS TO USE, WITH JUST A FEW EXCEPTIONS. PROMULGATED FAILURE...

Texas Promulgated Contracts are a set of standardized real estate contract forms developed and required by the state regulatory body, TREC, to govern real estate transactions in the state of Texas.