Principles of real estate in Texas 1 final exam Flashcards

Principles of real estate in Texas 1 final exam Flashcards Can a judgment link can be placed on both real and personal property Yes, against both the real and personal property Is a listing agent advertises a property as the cutest house on the street or the most attractive house on the street do these claim to have to be backed up?The claims are examples of puffery and are generally acceptable in advertising real estate in most other industries If a homeowner defaults on a medical care debt, can a hospital foreclose on the individuals home No medical bills cannot be forced the sale of a homestead What is an example of discharging a contract because it's impossibility of performance?When one principal or another dies before the contract can be sign Under what circumstances may a consumer collect from the real estate recovery trust to count if the person who committed the misery did not have a real estate license The consumers make alike from the fund. If it is unlicensed person works for a brokerage or other businesses that is licensed to conduct real estate.My broker is still have a written listing agreement to sell property in Texas no a written listing agreement is not necessary, unless the license holder wants to assure his commission Why are subsurface right considered dominant over surface rights?Because owners of subsurface write, must have access to surface of the property for the placement, such things as drilling, or pumping rings Is something happened to a borrower who has a mortgage insurance who gets paid?The lending institution has the mortgage State bordering Texas, Louisiana, Arkansas, Oklahoma, and New Mexico all permitted, which kind of a legal description that Texas does not permit Rectangular survey system While it is obviously permissible to sell off pieces of a section in a lane transaction, is it permissible to blend pieces into sections together Pieces of adjoining sections may may be combined with our restrictions, so long as the legal description is accurate Even if your intention is only to assist buyers and sellers of real estate, what class must be taken to receive a license?Property management, and establishing landowners policies What is the classification of a warehouse property that has a number of unauthorized condominium unit conversions?Industrial Real estate fees and commissions are set by Individual companies If a family does not financially qualify to buy a home in Pacific neighborhood, was the real estate agent still show them the house No, the agent is not obligated to share the property to anyone who is not financially qualified to buy Under the Texas law and property be sold to someone who is not a US citizen Citizenship is not listed as a requirement element for a valid contract Which of the following would likely be considered a fixture included in the sell?Parsian rugs on hardwood floor For an entrepreneur to set up a real estate brokerage as a sole property ship, she must Have a void brokers license The legal rights of property purchaser called the bundle of right means the owner is exempt from Demand by non-legal authorities to come onto the property

Which act extended, full citizenship, and civil rights to African-Americans The 14 admendment When 4 acre piece of properties is offered at three dollars per square foot. What is the asking price

$522,720

Landowners adjacent to a body of water, such as lakes, maple water from the lake as long as They have permission of the Texas commission on environmental quality A broker is clearly entitled to conduct performance reviews with employed sales agents. May a broker conduct performance reviews with independent contractors.Yes, brokers may review all aspects of the work of independent contractors, including meeting, sales goals, office conduct clerical duties and legal compliances When a builder does not sustainable work on a clients Lakehouse but the client refuses to pay can the builder file Eileen against both the client Lakehouse and the client main home No, the builder can only follow pacifically against the lake house Real estate broker and sales agents are allowed to give legal advice because Neither real estate brokers nor sales agents are permitted to give legal advice, unless they also our license attorneys in the state of Texas When a government entitled such as HUD or even municipalities transfers the ownership of a home is the property disclosure required Even if they name and number are on the do not call list, the individual may be contacted if In Texas real estate, license act is administrated byThe Texas real estate commission In agreement in which the buyer and seller have agreed to meet Pacific obligations is called In excitatory agreement Can a motorcycle rider and a member of an outlaw motorcycle gang claim discrimination if a real estate agent refused to show her properties in a quiet neighborhood No motorcycle riders are not a protected class Flood insurance were covered damages toOnly structures Dams and benchmarks are terms exclusively used to describe In elevation point for the purpose of establishing air, right When there is a construction boom in the United States, driving down the supply of drywall so that builders must import what should real estate brokers and sales agents be aware of That the imported drywall may not need local building codes as well as national standards The basic premises of the community reinvestment act isA hostile approach to community revelation is better than random single project efforts Is it listing agent in conclusion with a seller provides false, misleading information to a buyer agent, and hope that the information will be passed to the buyer for the purpose of spurring a quick offer is that grounds for discipline?Yes, listing agent, has an obligation to be fair and honest to the buyer What form of agency is illegal in Texas? Dual agency If flash flooding forces a property owner out of a residence for six months who has otherwise lived in the home for a year and a half out of the last five years is the owner still entitled to the capital gain exclusion on the sell other property Yes, the period of time the owner is forced out of the residence because of the flood does not count for the purpose of the capital gains rule

Sales agent, who have mastered and understanding of agency relationships Realize their limitations in working with their clients and customers Does the obligation need to be honest with all parties extended to sell agents representing a seller who is converted to a potential buyer wanting to know why the seller is selling?No, the sales representative it should not lie, but it should not provide personal or financial information about the property that the seller does not want released Is an older person is guaranteed a conventional life estate what happened to the property when the person dies?When the tenant dies, the estate ends in the property revert to the original owner or to another person that designated person My sales person is working for builders or developers have a real estate license Yes, anyone involved improper cells in Texas must be licensed A swimming pool ads what kind of value to a propertySubjective value What is primarily selling point of a modular home?They are built in factory under controlled conditions In oil, jeweler needs access to the rig since the well was drilled many years ago the owner of the surface property has subdivided. The lane in parcels have been sold, and re-sold. Also, the original oil company has been sold merged and merged again. Nobody knows now sure is where the original is easement rain does the jeweler still have the right to access the well If nothing else, there is an easement by implication A home seller tax bills are especially useful for real estate agents because They give agents for both sellers and buyers and idea of the direction of property values To avoid liability, should listing agent simply accept the sellers word when they provide information about their property Checking details for listing agreement is the buyers chore not listing agreement chore Before Texas residence can receive a real estate license they must submit to the Texas real estate commission A set a fingerprint I will be used for a background check Is the Texas Association of real estate inspectors it is primarily responsible for Enhancing the education and development of professional property inspections If clients want to buy Pacific homes but fall short of the 25-28%/33-36% ratio. Will they automatically be disqualified from the purchase No What am I to be a role of real estate broker in the event of a homeowner seeking overturn a property appraisal A broker might be able to offer actual appraisals and sale.Prices of comparable homes.Under what second sentence can poverty owners take their land, after it has been taken into eminent domain processing Is the land taken by eminent domain, is not redeveloped or refused within 10 years. The original owner may buyback the land for the price. The owner received for 10 years before.Is the owner of a soul property terrier ship obligated to file a business with the secretary of state office?No, it's still operate ship needed not to file with secretary of state office How has fair housing laws impacted the broker communityIt has brought in more buyers to compete for properties, boosting prices to competition Why does Shrek insist that brokerage provide a display information about brokerage services offered to Texas even even if a pacific broker does not offer all the services Track allows broker to provide a brokerage services information to consumers so that customers can decide who they want to do business with

Why does the Texas real estate commission approve a promulgated or below pacific forms to be used in real estate transaction Because of vast majority of real estate transactions are similar in nature and standardized forms can be helped to protect all parties involved Advertise an apartment for rent must be done carefully avoiding suggestions at any class of individuals are more welcome than others, which of the following advertisements would be violation of fair housing laws Kids OK Most newspapers, comply with fair housing advertisement laws Yes, it's newspapers must make sure real estate advertisement comply with fair housing laws May a broker sub subtract desk expenses from an independent contract commission check Brokers and cell agent should not operate under a negotiated work agreement, which may or may not allow the broker dictations Properties and community that is built out from city to city limit will likely see property value Rise, because no more buildable properties are available Must say, buyers agent have a very small house to a family with many children who all live together No, if local occupancy standards are prohibited, the house needed not to be shown If a legal partnership framed as tenants in common, but holding land in the name of the partnership decides to sell the property, how many partners must be signed the agreement?One signature by any of the partners