Texas real estate stuvia - Study guides, Class notes & Summaries

appurtenance - ANSWER-term used to describe rights, privileges or improvements that belong to and pass with the land improvements - ANSWER-man's additions to the land such as building and landscaping personal property - ANSWER-also called chattel or personalty; a right or interest in smiting of a temporary or movable nature and includes anything not classed as real property. Real property becomes personal property through severance. bill of sale - ANSWER-ownership of chattel or persona...

Why do lenders collect reserve funds at the property closing? A) To get a higher yield in their investment B) To be sure money will be available for tax and insurance purposes C) To have extra money that will accrue interest D) To hedge against increases in taxes or insurance premiums - ANSWERSB) To be sure money will be available for tax and insurance payments The cost recovery period for land improvements is how long? A) 15 years B) 25 years C) 27.5 years D) 30 years - ANSWERSA) 1...

Texas Real Estate Exam/ State and National Licensing – Complete Questions and Answers (100% Correct Answers)Texas Real Estate Exam/ State and National Licensing – Complete Questions and Answers (100% Correct Answers)Texas Real Estate Exam/ State and National Licensing – Complete Questions and Answers (100% Correct Answers) Designated Agent - ANSWER - A licensee appointed by a broker in a dual agency situation to work with either the buyer or the seller in the transaction Appointed Asso...

Of the 167,625,000 acres of land in Texas, 1.92% is owned by the state and/or federal government, ranking Texas _______ of the 50 states. - ANSWER 47 A CMA is what? - ANSWER Comparative Market Analysis A county clerk who accepts electronic documents for recording is required to do: - ANSWER continue to accept paper documents, and place entries for paper documents and electronic documents in the index. The minimum general requirements for an instrument to qualify as a deed in Texas i...

How many members in TREC? - ANSWER - 9: 3 general public, 6 brokers Who appoints, confirms TREC members? - ANSWER - Governor appoints, senate approves How many members on the Broker-Lawyer Committee? - ANSWER - 13: 6 brokers, 6 lawyers, 1 public member Who appoints Broker-Lawyer committee members? - ANSWER - Brokers/TREC, Lawyers/Pres of State Bar, Public Member/Governor Where is the Real Estate Advisory Committee? - ANSWER - Texas A & M Who is on the Real Estate Advisory Committe...

Why do lenders collect reserve funds at the property closing? A) To get a higher yield in their investment B) To be sure money will be available for tax and insurance purposes C) To have extra money that will accrue interest D) To hedge against increases in taxes or insurance premiums - ANSWER-B) To be sure money will be available for tax and insurance payments The cost recovery period for land improvements is how long? A) 15 years B) 25 years C) 27.5 years D) 30 years - ANSWER-A) 1...

AYPO Law of Agency Exam Questions and Answers (Graded A)AYPO Law of Agency Exam Questions and Answers (Graded A)AYPO Law of Agency Exam Questions and Answers (Graded A) The Original Legislation: - ANSWER-The Real Estate Dealers Act of 1939 main piece of Texas law governing the licensing and behavior of real estate professionals in the state. - ANSWER-The Real Estate License Act (TRELA) Licensing Duties were added in: - ANSWER-1955 Broker license was changed from 2 years in the 36 month...

The _____ lists all cash that came into and all expenses incurred by a property during the reporting period. a. Property management agreement b. Bank statement c. Cash flow report d. Leasing agreement - ANSWER c. Cash flow report (chapter 7) When a property is not well-maintained, the result is: a. Preventive maintenance b. Deferred maintenance c. Escalation clauses d. Assignment and sublet - ANSWER b. Deferred Maintenance (chapter 7) BOMA's major concern is advocacy on t...

The science that describes the management, creation, and study of money, banking, credit, investments, assets, and liabilities is - ANSWERSFinance Most real estate cycles in Texas are determined by: - ANSWERSSupply and demand __________________ measure(s) the wealth and resources of a particular area or region, as well as production and consumption. - ANSWERSEconomy A current medium of exchange collectively in the form of coins and banknotes is - ANSWERSMoney In the United States, ...

Texas State Real Estate License Exam Questions and Answers 100% CorrectTexas State Real Estate License Exam Questions and Answers 100% CorrectTexas State Real Estate License Exam Questions and Answers 100% CorrectTexas State Real Estate License Exam Questions and Answers 100% CorrectBy what date must the current year's real estate taxes be paid in order to avoid a penalty and interest on the taxes? - ANSWER - By January 31st of the next year Arthur was a Texas licensed Real Estate Sales ...