Principles 1 Play2Learn

What is the asking price of a 2 acre piece of land offered at $4 per s/f?

The co-ownership of tenants in common does not have right of survivorship

Of the 13 members of the TX RE Broker Lawyer Committee, how many does TREC appoint?

The Co-ownership of joint tenancy has right of survivorship

When demand increases

Which of the following are not permitted by Anti Trust Laws?

In trying to determine if something is a fixture or not, what is considered?

What is an executory agreement?

What affects "Supply"?

If a contractor works at a owner's secondary home and does not get paid, he can file a lien against

In real estate, supply and demand move in opposite directions

Trade fixtures are personal property

Who conducts investigations on licensees when complaints are filed against them?

What is a judgment lien?

DO NOT CALL lists don't help when a business relationship within the last 18 mos has existed with the caller.

What kind of insurance is required to cover injuries to neighbors on your property?

When 1 of the principles dies b4 a contract is signed it can be discharged for impossibility of performance

City parks are not subject to ad valorem taxes

If the market changes and it affects the price of your listing, what duty is required of you?

How many sq. ft. in an acre?

Tenants in common in a legal partnership, with land in the partnership name can sell if 1 partner signs.

The amount of goods people are willing and able to buy at a given price is called "Demand"

The US Constitution's basic purpose is

What do govt. regulations do?

An agent authorized to perform a single transaction, ie. a listing is a

What do improvements to land include

What does real property include?

When was the real estate license act passed?

How big is a section?

A sponsored agent who commits an act of housing discrimination

Deceptive trade laws prohibit

The COURT, not TREC decides the amount to be paid from the RE Recovery Fund.

What is "Nonhomogeneity"?

MLS cannot refuse membership or require conditions

Deceptive trade practice law prohibits advertising a property for sale when it is not

The stage of a business cycle following a depression when there is renewed growth

If an agent discriminates against a buyer or tenant or an owner or landlord

TX uses recorded subdivision plats (Lot/Blk) to describe land. What do the states that surround TX use?

What are monuments in land description?

Fee simple estate establishes complete ownership, may be inherited, gifted, or sold.

Paid employees of developers or builders do not need to be licensed.

Terms used to describe an elevation point for the purpose of establishing air rights

Why would a broker prefer to have a written listing agreement to sell property?

Nonhomogeneity is a physical characteristic of land

The right of a citizen to purchase and live in a home is the right of possession.

Real estate agents can use an owner's tax bills to get an idea of the direction of property values

TREC administers the License Act.

Citizenship is not a requirement for a valid real estate contract.

The Fair Housing Act of 1968

Why is it best to verify a seller's info about their property from an independent source?

How are rules and regulations adopted by govt agencies used?

Why does TREC require we use TREC promulgated contracts?

A seller that specifies the amount he requires from the sale of his property wants

Chattels are personal property

Is a written listing agreement required to sell property in TX?

Insurance policies with a co-ins. clause require the property to be insured for at least what %?

Real property consists of the following:

Real estate includes

What are "metes and bounds"?

What is an Exclusive Right to Sell listing?

What do Federal rules about hazards like lead based paint require?

What can a broker do if his seller wants to challenge a low appraisal?

Adjoining Sections of land can be blended/combined as long as the legal description is accurate.

Govt. entities are not required to provide a property disclosure when selling a home.

Personal property is

The owner of a sole proprietorship is not required to file as a business with the Sec of State Ofc

What is the 1st step in setting up a sole proprietorship real estate brokerage?

When selling a home, fixtures are

Deceptive trade laws prohibit saying something is new when it is not.

What is "right of survivorship"?