Aceable Agent Texas Real Estate Principles I
Questions And Answers
Seller's Disclosure Notice A document filled out by the seller concerning any defects in
the improvements on the property
Subagent A license holder from one office who represents the seller through cooperation
with the listing broker of another company
Material Fact Any fact that is significant or essential to the transaction
Principle the individual who authorizes another person to act on their behalf
Intermediary Relationships occur when the same real estate office is representing both the
seller and the buyer as clients in the same transaction
Third Party the individual with whom the agent and principal enter into real estate
negotiations. The third party is also sometimes referred to as the customer
Agency Relationship Disclosure Agency relationships should be disclosed at first contact
, Aceable Agent Texas Real Estate Principles I
Questions And Answers
Community Reinvestment Act Helps commercial banks and savings associations meet the
needs of borrowers in all segments of their communities, including low- and moderate-income
neighborhoods
Redlining The illegal act of a lender denying mortgages in certain areas of town
Home Mortgage Disclosure Federal act that requires lenders to disclose specific lending
information, which HUD then uses to map lending patterns
Texas Real Estate License Act (TRELA) A law that governs the licensing, education, and
activities of real estate license holders practicing brokerage in this state
Texas Real Estate Commission (TREC) A group of nine people appointed by the governor
and confirmed by the state senate that are to set policy and rules from the real estate license act
Texas Occupation Code The Texas Real Estate License Act is Chapter 1101 of the:
Questions And Answers
Seller's Disclosure Notice A document filled out by the seller concerning any defects in
the improvements on the property
Subagent A license holder from one office who represents the seller through cooperation
with the listing broker of another company
Material Fact Any fact that is significant or essential to the transaction
Principle the individual who authorizes another person to act on their behalf
Intermediary Relationships occur when the same real estate office is representing both the
seller and the buyer as clients in the same transaction
Third Party the individual with whom the agent and principal enter into real estate
negotiations. The third party is also sometimes referred to as the customer
Agency Relationship Disclosure Agency relationships should be disclosed at first contact
, Aceable Agent Texas Real Estate Principles I
Questions And Answers
Community Reinvestment Act Helps commercial banks and savings associations meet the
needs of borrowers in all segments of their communities, including low- and moderate-income
neighborhoods
Redlining The illegal act of a lender denying mortgages in certain areas of town
Home Mortgage Disclosure Federal act that requires lenders to disclose specific lending
information, which HUD then uses to map lending patterns
Texas Real Estate License Act (TRELA) A law that governs the licensing, education, and
activities of real estate license holders practicing brokerage in this state
Texas Real Estate Commission (TREC) A group of nine people appointed by the governor
and confirmed by the state senate that are to set policy and rules from the real estate license act
Texas Occupation Code The Texas Real Estate License Act is Chapter 1101 of the:
