Principle of Real Estate II (Aceableagent Texas Questions And Answers 100% Correct!

A REMIC holds commercial and residential mortgages in trust, assembles the mortgages into pools based on risk, and issues bonds (securities) on these pools to sell to investors in the: - ANSWERS- secondary mortgage market Which of the following is NOT a role of the Federal Reserve System? - ANSWERS- to make direct loans to homebuyers A tenant suffers repeated domestic violence from her husband. She gets a protective order and moves out. Under Texas law, is she still liable for her share of the rent or for lease termination penalties? - ANSWERS- No. She can discharge the lease without liability as long as she provides the landlord with a copy of the protective order. Maite uses a wheelchair and needs to install a wheelchair ramp in front of the duplex she will be renting so that she can enter and exit the property independently. Maite speaks with her landlord about installing the ramp and offers to pay for the ramp herself. Which of the following is TRUE? - ANSWERS- Maite's landlord MUST allow Maite to install the wheelchair ramp, even if they do not want to. When does the Interstate Land Sales Full Disclosure Act require the seller to give the report to a lot purchaser? - ANSWERS- before a purchase agreement is signed A tenant has recently signed a lease for a new commercial property. According to the lease terms, the tenant pays monthly rent, and the landlord covers maintenance and all other property expenses. This lease is a: - ANSWERS- gross lease Maura is a new property manager who is eager to succeed. What are the two primary objectives for any property manager? - ANSWERS- protecting the property owner's investment and maximizing the owner's return on that investment In the typical real estate transaction, the appraiser will be chosen by whom? - ANSWERS- lender What is constructive notice? - ANSWERS- the recording of a deed in publicly accessible records If a landlord wishes to charge a tenant a late fee, the landlord MUST do all of the following EXCEPT: - ANSWERS- give the tenant 30 days to pay the late fee For whom is it most important to be aware of and comply with state and federal fair housing laws? - ANSWERS- ALL real estate license holders Consider the following scenarios involving wills. Evaluate in which of the following scenarios the courts would consider the will to be VALID: A) A will is made by William, a man who suffers from dementia but who retains sufficient mental capacity to comprehend the specifications of his will. B) A will is made by Derek, a man who was declared mentally incompetent by the courts two years prior. C) A will is made by Lauren, a woman who is being unduly influenced by her eldest son to will her estate to him. D) A will is made by a lawyer and signed by Natalie against her volition; her children thre