Trec laws - Study guides, Class notes & Summaries

Texas Principles 1 - Champions School of Real Estate |QUESTIONS AND ANSWERS | ALREADY PASSED | VERIFIED & UPDATED | 2024 1. How much is the largest fine for any single violation of the Fair Housing Act? $110,000 2. What is a point? 1% of the loan amount 3. If you believe you are a victim of discrimination under the Federal Fair Housing laws, how long do you have to file a complaint? 1 year 4. What is the sentence that is used to remember how many sq. ft. are in one acre? 4 nuns driving 35...

1151 Laws of Agency Questions and Answers Already Passed Most lawsuits involve issues of who did or did not represent whom. The number of lawsuits.. a. are increased b. are decreased c. have stabi d. are not allowed a. are increased We study agency bc: a. the TREC requires people wishing to be licensed take an Agency class b. only brokers study agency c. only attorneys should study agency d. the client is required to take a class in agency a. the TREC requires.... The broker working wit...

Champions Real Estate Principles of Real Estate 1 in 2024 Already Graded A brokerage A business that pertains to overseeing the needs of the parties and completing a transaction they may or may not involve agency relationships Real Estate Development Involves the acquisition of land for development into residential subdivisions, retail centers and other commercial uses. immobility It's a physical characteristic of land that cannot be moved The demand for real estate is affected b...

The Tennessee Human Rights Commission (THRC) enforces fair housing laws in the state. Exemptions to Tennesse's Human Rights Act are: 1. Rental of one housing unit when the building contains no more than two independent units, if the owner or a family member lives in one of the units. 2. Rental of a room or rooming unit in a housing accommodation that shares a common bath (and only in regards to sex as a protected class). 3. Sale, rental, or preference of a dwelling owned, operated, or ...

What year did the state enact the Tennessee real estate Broker License Act? correct answer: 1973 What is the purpose of the Tennessee real estate broker license Act? correct answer: to create rules for real estate professionals to protect the public against harmful actions by licenses What does TREC stand for? correct answer: Tennessee real estate commission aka the commission What does the TREC (the commission) do? correct answer: -Administer and enforce laws regarding licensed rea...

What Tennessee law covers landlord-tenant relations? Tennessee has the Uniform Landlord and Tenant Act for residential rentals. This law is designed to simplify, clarify, modernize, and revise the laws governing the rental of dwelling units and the rights and obligations of both landlords and tenants and to encourage them to maintain and improve the quality of housing. In addition, the law ensures that the right to the receipt of rent is inseparable from the duty to maintain the premises. Anyon...

Law of Contracts - CHAMPIONS TEST|Latest Update Graded A+ The TREC residential contract forms are: Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. goods If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: Enter into a Seller's Temporary Residenti...

Champions Law of Contracts Course PASSED Exam Questions and CORRECT Answers '1101' laws are associated with... - Correct ANSWER- TRELA '535' laws are associated with... - Correct ANSWER- TREC TRELA was established in... - Correct ANSWER- 1939 TREC was established in... - Correct ANSWER- 1949

Law of Contracts 2024 Updated Exam Questions With Answers forms published by TREC that are mandatory for license holders to use in real estate transactions in Texas - ANSWER promulgated forms acting with awareness or flagrant disregard of prudent and fair business practices - ANSWER intentionally use of adjectives and opinions rather than details or facts - ANSWER puffing allows an aggrieved consumer to sue a seller of goods for damages - ANSWER Deceptive Trade Practi...

'1101' laws are associated with... correct answersTRELA '535' laws are associated with... correct answersTREC TRELA was established in... correct answers1939 TREC was established in... correct answers1949 The Real Estate Recovery Trust Account is used to... correct answersProtect aggrieved individuals who suffer a monetary loss due to illegals acts of license holders. The maximum amount per transaction for Real Estate Recovery is... correct answers$50,000 The maximum amount...