Texas Real Estate Principles 1 Questions And Answers With Verified Updates

conditions upon which a joint tenancy can be made - there must be unity in time, title, interest and possession time-acquire ownership at the same time tile-acquire title from same source interest-equal interest in property possession-all owners have right to possess property An appeal can be made on a decision by the commission - it must be taken to the district court in the county where the administrative hearing was held Adverse Possession - when one person takes possession of anothers land and holds that possession for a long enough period of time tobe able to make it theirs and take ownership of it A certificate is required seperate of the license when - buying, selling or leasing an easement pertaining to telecommunicaton, utility, railroad or pipeline services. A commission may suspend or revoke a license for - acting negligently or incompetently, comingling money and soliciting or selling offers for the sale of real estate by means of a lottery a person holding a power of attorney - Attorney in Fact abstract title - condensed history of all docs that have been recorded affecting the title of the property Accretion - land is increased in size because of natural deposit of rock and soil usually caused by water movement actual notice of anothers interest in property - what heard, seen and readADA Americans with Disabilities Act - enacted in 1992 deals with commercial property only administrator - person who administers the wishes of a will assigned by the court in the event the executor is not will to perform Alienation - transfer of ownership of property All contracts - expressed-writing or oral OR implied-understanding all documents concerning real estate - must be recorded at county clerks office in the county where the property is located Alluvion - the land that has been created by Accretion. Appurtenances - right or privilidge to land that goes with the land when ownership changes such as parking lot spaces, easements, right or ways Avulsion - suddent removal of land by water bilateral contract - promised for a promise (real estate contract) breached - when one party fails to perform the duties of the contract-they can be asked by judge to partially perform or substatially perform Bundle of Rights or Bundle of Sticks - the many rights the Fee Simple gives to owners of propertybundles or sticks can be removed but the owner still owns the Fee Simple chain of title - everyone who has ever owned that propertyChattel - also known as Personal Property Civil Rights Act of 1968 - Amended the Civil Rights Act of 1866 to include race, color, national origin, religion, Civil Rights Act of 1974 - Amended to include Sex (Male or Female) Civil Rights Act of 1988 - Amended to include Handicap and Familial status