Texas Law of Contracts- Final Exam Latest Updated Questions & Answers Passed !!!
Texas Law of Contracts- Final Exam
Latest Updated Questions & Answers
Passed!!!
Tila-respa integrated disclosure rule (the final rule) - answer ✔ - trid
Lenders must give a copy of the booklet, must provide a loan estimate (within 3 business days), a closing
disclosure - answer ✔ - trid rule
Real estate settlement procedures act - answer ✔ - respa
A person takes possession & use of a property belonging to another. Possession must be open, notorious,
hostile & uninterrupted for a certain period of time. - answer ✔ - adverse possession
Real estate settlement procedures act - requires special information booklet, requires good faith estimate,
requires uniform settlement statement - answer ✔ - respa requirements include:
A possession without concealment - answer ✔ - notorious possession
The possession of the property is without the owner's permission, either expressed or implied. - answer
✔ - hostile possession
The legal term for the voluntary transfer of title - answer ✔ - voluntary alienation
A transfer of title to real property without the owner's consent . Examples. Escheat, foreclosure, eminent
domain, adverse possession and estoppel. - answer ✔ - involuntary alienation
Power of a government to take private property for public use. - answer ✔ - eminent domain
, Texas Law of Contracts- Final Exam Latest Updated Questions & Answers Passed !!!
Intrusion on a person's territory, rights, etc. - answer ✔ - encroachment
A reciprocal arrangement between two parties where each promises to perform an act in exchange for
the other party's act. - answer ✔ - bilateral contract
A legal right of a landowner who owns land next to a natural watercourse to reasonable use of whatever
water flows past the property. - answer ✔ - riparian rights
Writes promulgated contracts 13 members 6 are brokers 6 lawyers and 1 public member - answer ✔ -
broker lawyer committee
A term that means no two parcels of land are exactly alike. - answer ✔ - non-homogeneous
Illegally mixing deposits or monies, collected from a client, with one's personal or business account. Taking
money out too soon or putting it into escrow too late (10 banking days). - answer ✔ - commingling
A form of concurrent ownership, which occurs when two or more persons own a single estate in land,
with right of survivorship. Must have equal shares, right to partition. - answer ✔ - joint tenancy
A group of individuals or organizations combined to promote some common interest - answer ✔ -
syndicate
Means to do what one has agreed to do. - answer ✔ - performance
Some contracts require a party to refrain from doing something it is called... - answer ✔ - forbearance
A contract that comes about simply from actions of the parties. - answer ✔ - implied contract
A trust in which property is conveyed, and in which real estate is the only asset. - answer ✔ - land trust
An estate that gives the holder (tenant) a temporary right to possession, without title. - answer ✔ -
leasehold estate
Texas Law of Contracts- Final Exam
Latest Updated Questions & Answers
Passed!!!
Tila-respa integrated disclosure rule (the final rule) - answer ✔ - trid
Lenders must give a copy of the booklet, must provide a loan estimate (within 3 business days), a closing
disclosure - answer ✔ - trid rule
Real estate settlement procedures act - answer ✔ - respa
A person takes possession & use of a property belonging to another. Possession must be open, notorious,
hostile & uninterrupted for a certain period of time. - answer ✔ - adverse possession
Real estate settlement procedures act - requires special information booklet, requires good faith estimate,
requires uniform settlement statement - answer ✔ - respa requirements include:
A possession without concealment - answer ✔ - notorious possession
The possession of the property is without the owner's permission, either expressed or implied. - answer
✔ - hostile possession
The legal term for the voluntary transfer of title - answer ✔ - voluntary alienation
A transfer of title to real property without the owner's consent . Examples. Escheat, foreclosure, eminent
domain, adverse possession and estoppel. - answer ✔ - involuntary alienation
Power of a government to take private property for public use. - answer ✔ - eminent domain
, Texas Law of Contracts- Final Exam Latest Updated Questions & Answers Passed !!!
Intrusion on a person's territory, rights, etc. - answer ✔ - encroachment
A reciprocal arrangement between two parties where each promises to perform an act in exchange for
the other party's act. - answer ✔ - bilateral contract
A legal right of a landowner who owns land next to a natural watercourse to reasonable use of whatever
water flows past the property. - answer ✔ - riparian rights
Writes promulgated contracts 13 members 6 are brokers 6 lawyers and 1 public member - answer ✔ -
broker lawyer committee
A term that means no two parcels of land are exactly alike. - answer ✔ - non-homogeneous
Illegally mixing deposits or monies, collected from a client, with one's personal or business account. Taking
money out too soon or putting it into escrow too late (10 banking days). - answer ✔ - commingling
A form of concurrent ownership, which occurs when two or more persons own a single estate in land,
with right of survivorship. Must have equal shares, right to partition. - answer ✔ - joint tenancy
A group of individuals or organizations combined to promote some common interest - answer ✔ -
syndicate
Means to do what one has agreed to do. - answer ✔ - performance
Some contracts require a party to refrain from doing something it is called... - answer ✔ - forbearance
A contract that comes about simply from actions of the parties. - answer ✔ - implied contract
A trust in which property is conveyed, and in which real estate is the only asset. - answer ✔ - land trust
An estate that gives the holder (tenant) a temporary right to possession, without title. - answer ✔ -
leasehold estate
