Aceable Agent - Texas Real Estate 1 Practice Test
Severance - Answer- turn real property into personal property
Voidable - Answer- can be terminated or rescinded by either party
Real property refers to the land and improvements on it plus the set of rights associated
with real estate ownership. - Answer- land, and improvements on it plus the set of rights
associated with real estate ownership
Sponsoring Broker - Answer- Sales agents accept commission from
Counteroffer - Answer- party makes changes to an offer and represents the new offer
Uniqueness - Answer- no two tracts of land are the same
Special Agency - Answer- Broker signs listing agreement with seller
Lot and Block - Answer- Plat, Oak Grove, Block 600, Lot 5, Dallas County, TX
Fair Housing - Answer- the Department of Housing and Urban Development, commonly referred to as HUD, enforces the
What consequences could a broker suffer if a court concludes they knowingly and intentionally conveyed incomplete or false information to a customer? - Answer- If they are found to be knowingly and intentionally at fault, they may be punished with Treble damages for both economic damages and mental anguish.
grounds for disciplinary action, including revocation or suspension of a license, EXCEPT - Answer- Asking buyers to provide their own transportation to inspect a property
Condo - Answer- An owner lives in a single family dwelling but only owns the building. The homeowner's association owns and maintains the grounds, the pool and the exercise room. All of the owners in the area share the common areas. What does the owner live in?
Market Information - Answer- agents use as a basis for advising a prospect
Trade Fixture - Answer- Dining Room Table in NOT
Severance - Answer- turn real property into personal property
Voidable - Answer- can be terminated or rescinded by either party
Real property refers to the land and improvements on it plus the set of rights associated
with real estate ownership. - Answer- land, and improvements on it plus the set of rights
associated with real estate ownership
Sponsoring Broker - Answer- Sales agents accept commission from
Counteroffer - Answer- party makes changes to an offer and represents the new offer
Uniqueness - Answer- no two tracts of land are the same
Special Agency - Answer- Broker signs listing agreement with seller
Lot and Block - Answer- Plat, Oak Grove, Block 600, Lot 5, Dallas County, TX
Fair Housing - Answer- the Department of Housing and Urban Development, commonly referred to as HUD, enforces the
What consequences could a broker suffer if a court concludes they knowingly and intentionally conveyed incomplete or false information to a customer? - Answer- If they are found to be knowingly and intentionally at fault, they may be punished with Treble damages for both economic damages and mental anguish.
grounds for disciplinary action, including revocation or suspension of a license, EXCEPT - Answer- Asking buyers to provide their own transportation to inspect a property
Condo - Answer- An owner lives in a single family dwelling but only owns the building. The homeowner's association owns and maintains the grounds, the pool and the exercise room. All of the owners in the area share the common areas. What does the owner live in?
Market Information - Answer- agents use as a basis for advising a prospect
Trade Fixture - Answer- Dining Room Table in NOT
