Allied Texas Real Estate Principles 1 Final Exam Flashcards

Allied Texas Real Estate Principles 1 Final Exam Flashcards Unconscionable actiontaking advantage of the lack of knowledge, ability, experience or capacity of the consumer to a grossly unfair degree Fructus Industrialesannual crops produced by human lobor Tangible personal propertyproperty that can be seen, touched, weighed, measured, felt, or perceived by the senses Fee simple subject to condition subsequent any fee estate containing a condition that if violated, could lead to the termination of the estate profit-a-prendreThe right to enter another's land to remove soil or substances of the soil Title VIII of the Civil Rights Act of 1968 and Fair Housing Amendments Act of 1988 The two pieces of legislation that comprise the Fair Housing Act commission AgreementA contract between a client and a broker in which the broker agrees to accept valuable consideration from a client or another person for assisting, soliciting, or negotiating the sale, purchase, option, rental or lease of real property, or the sale, exchange, option or purchase of a business.Deceptive Trade Practices and Consumer Protection Act

(DTPA)

To protect consumers against false, misleading, and deceptive business or insurance practices, unconscionable actions, and breaches of warranties.Fructus Naturalesnaturally occurring plant groth, such as grasses, trees, and shrubs Intangible personal propertyclaim, interest, right, or other things that has value but cannot be seen, felt, weighed, measured, or perceived by the senses.Errors and omissions insurance (E&O)policy that covers various claims for errors, mistakes, neglect, or carelessness in the normal business activities of a real estate brokerage.Hazard InsuranceCovers the outstanding loan on the property community propertyproperty obtained during the course of the marriage EncumbranceA claim, charge, or liability that attaches to and is binding on real property?EasementA right, privilege or interest limited to a specific purpose which one party has in the land of another.Real Propertyall real estate plus the legal bundle of rights inherent in the ownership of real estate.