Texas real estate state Study guides, Class notes & Summaries

Real Property correct answer: land, Improvements attached to the land, and the rights to use them Personal Property correct answer: right or interest in things of a temporary or movable nature chattel personalty. Ownership transferred by a BILL OF SALE Fixture correct answer: Personal Property attached in such a way to make it real property. Annexation correct answer: Process of attaching personal property to real property making it a fixture Severed or Severance correct answer: ...

Texas Real Estate State Exam Questions and Answers 100% Verified Real Property - Answer- land, Improvements attached to the land, and the rights to use them Personal Property - Answer- right or interest in things of a temporary or movable nature chattel personalty. Ownership transferred by a BILL OF SALE Fixture - Answer- Personal Property attached in such a way to make it real property. Annexation - Answer- Process of attaching personal property to real property making it a fixture Sev...

Texas Real Estate Principles 1 - Unit 1 Exam questions and answers latest top score. The Committee has _____ members appointed by the Commission. - correct answers.12 The __________ is a statute that is administered and enforced by the Texas Real Estate Commission (TREC), which is a state agency. - correct answers.Real Estate License Act A successful career in real estate requires someone to: - correct a self-started. A peak is characterized as the __________ turni...

Texas Real Estate State Exam (2023/2024) 100% Pass Real Property land, Improvements attached to the land, and the rights to use them Personal Property right or interest in things of a temporary or movable nature chattel personalty. Ownership transferred by a BILL OF SALE Fixture Personal Property attached in such a way to make it real property. Annexation Process of attaching personal property to real property making it a fixture Severed or Severance Real property being removed becoming pers...

If a broker tells a lender that the sales price on a property is something above its actual sales price in order to help the buyer obtain a larger loan, the correct answer: broker faces loss of license and a fine. Brokers are not to be parties to a dual contract for the purpose of obtaining a larger loan. Doing so may subject the license holder to charges of fraud. In Texas, real estate commissions are correct answer: negotiable between the client and the broker. Commissions are alw...

Who has the authority to make rules and regulations? - Answer TREC (not the state) What does TREC stand for? - Answer Texas Real Estate Commission - power to issue or revoke real estate licenses 1949 to administer License act Authority to make rules and regulations TREC has how many members? - Answer 9 3 represent the general public, 6 are real estate brokers All are appointed by the governor and approved by the Senate They serve for 6 yr terms subpoena - Answer basica...

Who has the authority to make rules and regulations? - Answer TREC (not the state) What does TREC stand for? - Answer Texas Real Estate Commission - power to issue or revoke real estate licenses 1949 to administer License act Authority to make rules and regulations TREC has how many members? - Answer 9 3 represent the general public, 6 are real estate brokers All are appointed by the governor and approved by the Senate They serve for 6 yr terms subpoena - Answer basica...

What state agency is responsible for the licensing of real estate appraisers? Correct Answer Texas Appraiser Licensing and Certification Board A broker or salesperson who fails to give the statutory title notice to the buyer at or before closing A) will have the license suspended without reinstatement for two years. B) must forfeit the entire commission on the subject transaction but in so doing is absolved of any other liability. C) may have the license suspended or revoked and cannot ...

TEXAS REAL ESTATE FINANCE ACTUAL EXAM TEST BANK , PRACTICE EXAM , STUDY GUIDE,AND REVIEW ALL IN ONE SET ALL QUESTIONS AND WELL ELABORATED ANSWERS TOP RATED VERSION FOR ALREADY A GRADED WITH EXPERT FEEDBACK | NEW AND REVISED

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...