AYPO Real Estate Law Of Contracts (version 1&2) Newest 2025 Actual Exam Complete 250
Questions And Correct Answers(Verified Answers)|Already Graded A+
An advantage to buyers in a lease-purchase option is which of the following? - ANSWER-It can
be easier for a difficult to qualify buyer to purchase a home with a lower down payments.
Eminent domain in Texas MAY NOT be used for which of these purposes? - ANSWER-Private
party uses.
Graduated and index leases are what types of leases? - ANSWER-Variable.
A "mirror" will is a : - ANSWER-Reciprocal will.
Under a land sales contract which of the following statements is accurate? (Best answer.) -
ANSWER-All of these are accurate.
Which type of listing agreement is the only one to guarantee the broker a commission in the
event of a successful sale? - ANSWER-Exclusive-right-to-sell
A Deed of Trust allows for what type of foreclosure? - ANSWER-Non- judicial
Once the offer to purchase and all details and contingencies are agreed upon, and all parties are
signed, which of these should happen next? - ANSWER-All of these.
A title search includes a searching of public records to determine these issues, except for: -
ANSWER-Credit history of the potential buyer.
Which of these might a certificate of title include? - ANSWER-Any of these
Contingencies are best described by which of the following? - ANSWER-Specific events of
conditions that must occur or be removed for the offer/purchase agreement to be valid.
Oral agreements in relation to business purchases or hiring of services can be enforceable under
which of these circumstances? - ANSWER-If the words used can be proven and the intent
reasonably discerned from those words.
A non-exclusive/not for compensation buyer- broker agreement: - ANSWER-all of these
For leases lasting less than ____, oral agreements can be enforceable. - ANSWER-One year
, Which of these provides the broadest definition of land, property, and ownership rights? -
ANSWER-Real Property.
For a valid contractual offer, the offer must do all except which of the following? - ANSWER-
Provide terms for an acceptable counter offer.
Which of these would NOT be a requirement to create a valid lease agreement? - ANSWER-
Financing disclosure
Fee simple determinable and fee simple subject to a condition subsequent are the two forms of:
- ANSWER-Fee simple defeasible estates
_________________ is a form of ownership held by one party. - ANSWER-Severalty
Which of these IS NOT listed among the special inspections? - ANSWER-Home appliances
Earnest money is a prospective buyer's demonstration of which of the following? - ANSWER-
Both of these.
An encumbrance is a(n) ________ real property. - ANSWER-All of these
Once signed by borrowers, the note is which of the following? - ANSWER-A fully enforceable
and negotiable instrument of debt.
Providing basic information regarding various standard aspects of real estate law is: - ANSWER-
An important piece of the fiduciary duty to protect the client's best interests.
In real estate, a 72- hour clause allowing a party a grace period to change their minds is called
which of the following? - ANSWER-Escape clause.
Computerized loan origination (CLO) systems have been approved by the U.S Dept. of Housing
and Urban Development so long as: - ANSWER-All of these.
Contracts for deed, lease-purchases, and lease-options for longer than (minimum mandatory)
___days are legally defines as executory contracts. - ANSWER-180
All of the following are required for an amendment to make changes to an existing real estate
contract in Texas, EXCEPT for which of these? - ANSWER-The amendment must be included in
the actual language of contract and so requires a new contract to be signed.
Who pays for the inspections and subsequent repairs? - ANSWER-Who pays is open to
negotiation and, once decided, should be entered into the sales agreement.
In terms of the closing process, Texas is an ______ state. - ANSWER-Escrow
Questions And Correct Answers(Verified Answers)|Already Graded A+
An advantage to buyers in a lease-purchase option is which of the following? - ANSWER-It can
be easier for a difficult to qualify buyer to purchase a home with a lower down payments.
Eminent domain in Texas MAY NOT be used for which of these purposes? - ANSWER-Private
party uses.
Graduated and index leases are what types of leases? - ANSWER-Variable.
A "mirror" will is a : - ANSWER-Reciprocal will.
Under a land sales contract which of the following statements is accurate? (Best answer.) -
ANSWER-All of these are accurate.
Which type of listing agreement is the only one to guarantee the broker a commission in the
event of a successful sale? - ANSWER-Exclusive-right-to-sell
A Deed of Trust allows for what type of foreclosure? - ANSWER-Non- judicial
Once the offer to purchase and all details and contingencies are agreed upon, and all parties are
signed, which of these should happen next? - ANSWER-All of these.
A title search includes a searching of public records to determine these issues, except for: -
ANSWER-Credit history of the potential buyer.
Which of these might a certificate of title include? - ANSWER-Any of these
Contingencies are best described by which of the following? - ANSWER-Specific events of
conditions that must occur or be removed for the offer/purchase agreement to be valid.
Oral agreements in relation to business purchases or hiring of services can be enforceable under
which of these circumstances? - ANSWER-If the words used can be proven and the intent
reasonably discerned from those words.
A non-exclusive/not for compensation buyer- broker agreement: - ANSWER-all of these
For leases lasting less than ____, oral agreements can be enforceable. - ANSWER-One year
, Which of these provides the broadest definition of land, property, and ownership rights? -
ANSWER-Real Property.
For a valid contractual offer, the offer must do all except which of the following? - ANSWER-
Provide terms for an acceptable counter offer.
Which of these would NOT be a requirement to create a valid lease agreement? - ANSWER-
Financing disclosure
Fee simple determinable and fee simple subject to a condition subsequent are the two forms of:
- ANSWER-Fee simple defeasible estates
_________________ is a form of ownership held by one party. - ANSWER-Severalty
Which of these IS NOT listed among the special inspections? - ANSWER-Home appliances
Earnest money is a prospective buyer's demonstration of which of the following? - ANSWER-
Both of these.
An encumbrance is a(n) ________ real property. - ANSWER-All of these
Once signed by borrowers, the note is which of the following? - ANSWER-A fully enforceable
and negotiable instrument of debt.
Providing basic information regarding various standard aspects of real estate law is: - ANSWER-
An important piece of the fiduciary duty to protect the client's best interests.
In real estate, a 72- hour clause allowing a party a grace period to change their minds is called
which of the following? - ANSWER-Escape clause.
Computerized loan origination (CLO) systems have been approved by the U.S Dept. of Housing
and Urban Development so long as: - ANSWER-All of these.
Contracts for deed, lease-purchases, and lease-options for longer than (minimum mandatory)
___days are legally defines as executory contracts. - ANSWER-180
All of the following are required for an amendment to make changes to an existing real estate
contract in Texas, EXCEPT for which of these? - ANSWER-The amendment must be included in
the actual language of contract and so requires a new contract to be signed.
Who pays for the inspections and subsequent repairs? - ANSWER-Who pays is open to
negotiation and, once decided, should be entered into the sales agreement.
In terms of the closing process, Texas is an ______ state. - ANSWER-Escrow
