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CHAMPIONS PROMULGATED CONTRACT
FORMS 2025 QUESTIONS AND ANSWERS.
One to Four Family Residential Contract (Resale) - correct answer - The
promulgated contract used by real estate licensees for the sale of
residential property. It's used when purchasing residential real estate, but
variations of forms are available for other types of real property.
Residential Condominium (Resale) - correct answer - A TREC promulgated
contract for use where the seller does not own fee simple title to the land
beneath the unit.
New Home Contract (Completed Construction) - correct answer - This
contract form is used for new homes where the construction has been
completed by the builder and no one has previously lived in the home.
New Home Contract (Incomplete Construction) - correct answer - The
contract is used for the sale of new homes when construction has not yet
been completed by the builder and when the closing will occur after
construction has been completed.
Unimproved Property Contract - correct answer - Used for the sale of
properties with no existing structure. This contract has no improvements, or
accessories. No seller disclosure.
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Farm and Ranch Contract - correct answer - A TREC promulgated contract
for use where the land being sold is greater than 10 acres and includes
land, improvements, accessories and crops. Contains provisions for
surface leases related to a property
The parties to the contract specifically as noted in paragraph 18.A - correct
answer - The escrow agent is not a party to this contract and does not have
liability for the performance or non-performance of any part of this contract,
or liable for any interest or loss on any earnest money cause by the failure
of any financial institution.
The purpose and use of Paragraph 6- - correct answer - The owner's Title
policy being paid for by buyer or seller. The Title company has 20 days
from when they receive the contract to furnish a commitment to buyer for
Title Insurance. Objections, who will furnish the survey, the intended use of
the property (residential use) and any membership in property associations.
Stigmatized properties - correct answer - Any property where there has
been a murder, alleged haunting, or in the vicinity of the residence of a
known sexual offender
The unlawful practice of law - correct answer - License holders should not
alter the pre-printed text of a promulgated form. Specific examples - agents
add provisions to contracts other than business details: Example: Inserting
terms into a contract when a TREC promulgated form is available. Adding
terms into a contract that are not addressed by a TREC promulgated form.
CHAMPIONS PROMULGATED CONTRACT
FORMS 2025 QUESTIONS AND ANSWERS.
One to Four Family Residential Contract (Resale) - correct answer - The
promulgated contract used by real estate licensees for the sale of
residential property. It's used when purchasing residential real estate, but
variations of forms are available for other types of real property.
Residential Condominium (Resale) - correct answer - A TREC promulgated
contract for use where the seller does not own fee simple title to the land
beneath the unit.
New Home Contract (Completed Construction) - correct answer - This
contract form is used for new homes where the construction has been
completed by the builder and no one has previously lived in the home.
New Home Contract (Incomplete Construction) - correct answer - The
contract is used for the sale of new homes when construction has not yet
been completed by the builder and when the closing will occur after
construction has been completed.
Unimproved Property Contract - correct answer - Used for the sale of
properties with no existing structure. This contract has no improvements, or
accessories. No seller disclosure.
, Page | 2
Farm and Ranch Contract - correct answer - A TREC promulgated contract
for use where the land being sold is greater than 10 acres and includes
land, improvements, accessories and crops. Contains provisions for
surface leases related to a property
The parties to the contract specifically as noted in paragraph 18.A - correct
answer - The escrow agent is not a party to this contract and does not have
liability for the performance or non-performance of any part of this contract,
or liable for any interest or loss on any earnest money cause by the failure
of any financial institution.
The purpose and use of Paragraph 6- - correct answer - The owner's Title
policy being paid for by buyer or seller. The Title company has 20 days
from when they receive the contract to furnish a commitment to buyer for
Title Insurance. Objections, who will furnish the survey, the intended use of
the property (residential use) and any membership in property associations.
Stigmatized properties - correct answer - Any property where there has
been a murder, alleged haunting, or in the vicinity of the residence of a
known sexual offender
The unlawful practice of law - correct answer - License holders should not
alter the pre-printed text of a promulgated form. Specific examples - agents
add provisions to contracts other than business details: Example: Inserting
terms into a contract when a TREC promulgated form is available. Adding
terms into a contract that are not addressed by a TREC promulgated form.
