8/13/25, 2:47 AM Champion School of Real Estate-Law of Contracts Exam | Complete Questions and Correct Answers with Rationales | Graded A+ | …
Champion School of Real Estate-Law of Contracts Exam |
Complete Questions and Correct Answers with Rationales
| Graded A+ | Verified Answers
when joint tenant dies right Right of surviorship
of property are equally
divided among surviving
owners
marriage is regarded as a community property
partnership
rather than husband and wife
become one.
property owned by a separate property
married person that is not
community property
taking buyers or renters to steering/channeling
or away from a particular
area based on the race,
religion, etc, of the buyer
or renter.
… 1/22
,8/13/25, 2:47 AM Champion School of Real Estate-Law of Contracts Exam | Complete Questions and Correct Answers with Rationales | Graded A+ | …
TREC-created by the Texas Real Estate Commission
Legislature in 1949. 9
member commission
whose primary purpose is
to carry out the provision of
the License Act
administered by TREC. the Real Estate Recovery Trust Account
purpose of the account is
to protect aggrieved
individuals who suffer
monetary loss due to illegal
acts of license holders
license holder is not qualified unlawful practice of law
to add
provisions to contracts that
go beyond factual business
details.
residential contract forms Promulgated Forms
that are mandatory for
license holder
Texas law that applies to trade Deceptive trade practices Act
and
commerce that was passed in
1973. Part of the Texas
Business and Commerce
code
surface of the earth Land
extending downward to the
center and upward above
the surface to infinity
all that encompassed in Real Estate
land with the addition of all
man-made additions to the
land (improvements)
goes beyond physical real Real Property
estate and
includes the rights that a
… 2/22
, 8/13/25, 2:47 AM Champion School of Real Estate-Law of Contracts Exam | Complete Questions and Correct Answers with Rationales | Graded A+ | …
person has in the land.
rights that a person has in the Bundle of Rights
land
different rights can be severable
separate
the ability to develop the Surface Rights
surface and to use
resources extracted from or
near the surface
rights to oil, gas and minerals, Subsurface Rights
are
commonly conveyed through
a lease, mineral deed or
reservation
extend above the surface Air Rights
without limitations
man-made additions to the improvements
land that is
permanent and is considered
to become part of the land
personal property personalty/chattel
used to accomplish the bill of sale
transfer of personal
property, accompanies
the deed
personal property that has Fixture
become attached to the
land
personal property that annexation
becomes real property
removing fixtures to become severance
personal property
Indestructibility-cannot Physical Characteristics of Land
be destroyed
Immobility-cannot be
moved
… 3/22
Champion School of Real Estate-Law of Contracts Exam |
Complete Questions and Correct Answers with Rationales
| Graded A+ | Verified Answers
when joint tenant dies right Right of surviorship
of property are equally
divided among surviving
owners
marriage is regarded as a community property
partnership
rather than husband and wife
become one.
property owned by a separate property
married person that is not
community property
taking buyers or renters to steering/channeling
or away from a particular
area based on the race,
religion, etc, of the buyer
or renter.
… 1/22
,8/13/25, 2:47 AM Champion School of Real Estate-Law of Contracts Exam | Complete Questions and Correct Answers with Rationales | Graded A+ | …
TREC-created by the Texas Real Estate Commission
Legislature in 1949. 9
member commission
whose primary purpose is
to carry out the provision of
the License Act
administered by TREC. the Real Estate Recovery Trust Account
purpose of the account is
to protect aggrieved
individuals who suffer
monetary loss due to illegal
acts of license holders
license holder is not qualified unlawful practice of law
to add
provisions to contracts that
go beyond factual business
details.
residential contract forms Promulgated Forms
that are mandatory for
license holder
Texas law that applies to trade Deceptive trade practices Act
and
commerce that was passed in
1973. Part of the Texas
Business and Commerce
code
surface of the earth Land
extending downward to the
center and upward above
the surface to infinity
all that encompassed in Real Estate
land with the addition of all
man-made additions to the
land (improvements)
goes beyond physical real Real Property
estate and
includes the rights that a
… 2/22
, 8/13/25, 2:47 AM Champion School of Real Estate-Law of Contracts Exam | Complete Questions and Correct Answers with Rationales | Graded A+ | …
person has in the land.
rights that a person has in the Bundle of Rights
land
different rights can be severable
separate
the ability to develop the Surface Rights
surface and to use
resources extracted from or
near the surface
rights to oil, gas and minerals, Subsurface Rights
are
commonly conveyed through
a lease, mineral deed or
reservation
extend above the surface Air Rights
without limitations
man-made additions to the improvements
land that is
permanent and is considered
to become part of the land
personal property personalty/chattel
used to accomplish the bill of sale
transfer of personal
property, accompanies
the deed
personal property that has Fixture
become attached to the
land
personal property that annexation
becomes real property
removing fixtures to become severance
personal property
Indestructibility-cannot Physical Characteristics of Land
be destroyed
Immobility-cannot be
moved
… 3/22
