Texas Real Estate Principles 1 2024 Exam with Correct Solutions
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Course
Champions school of real estate
Institution
Champions School Of Real Estate
Texas Real Estate Principles 1 2024 Exam
with Correct Solutions
Civil Rights Acts of 1866 - Answer -Prohibits only and all racial discrimination
Steering - Answer -Directing Home Seekers to particular neighborhoods based on the the fair housing
protected classes
Blockbusting - Answer -Real est...
Texas Real Estate Principles 1 2024 Exam with Correct S olutions Civil Rights Acts of 1866 - Answer -Prohibits only and all racial discrimination Steering - Answer -Directing Home Seekers to particular neighborhoods based on the the fair housing protected classes Blockbusting - Answer -Real estate agents creating fear in a neighborhood in order to induce the owner of the houses to sell the properties at a loss to the agents Equal Credit Opportunity Act of 1974 - Answer -Prohibits discrimination based on race color, etc. and receipt of income from a public assistance program. Real Property/ Real Estate - Answer -Land, improvements and the rights to own them Improvements - Answer -Anything put on the land with the intent of improving the land. Chattel - Answer -Personal Property Appurtenances - Answer -Right or privilege attached to land that goes with the land when ownership of the land changes. Fixture - Answer -Something that was personal property and has now become real estate because it has been attached to the land. Three tests of a fixture - Answer -A) Method of annexation B)Fitness or adaptation to the property C) Intention of the parties Trade Fixture - Answer -Something that is attached to a property under a commercial lease. Fixity or Permanence of Investment - Answer -The fact that improvements to the land will take a long time to pay for them. Metes and Bounds - Answer -Uses distance and directions to define and describe the shape and boundaries of the property. Datum - Answer -Used to mark elevation Rectangular Survey System - Answer -Uses latitude, longitude, standard and baselines to divide earth into areas Townships - Answer -Areas of earth = 36 Sq. Miles Unit - Answer -1 sq. mile or 640 acres Acre - Answer -43,560 Recorded Plat - Answer -When land is divided into plots Informal Reference - Answer -not a legal description. Riparian Rights - Answer -The right to use water in a river or stream Littoral Rights - Answer -Rights a landowner has to use and enjoy the water that touches his land but he may not alter the course of the water Surface water - Answer -Publicly owned and governed by the state of Texas. Rule of Capture - Answer -A landowner with a well is allowed to pump water from under his property. Open Beach Act - Answer -The public has the free and unrestricted right to use the open beach. Accretion - Answer -Land is increased in size because of hte natural deposit of rock and soil Alluvion - Answer -Land that has been created by accretion Reliction - Answer -The dry land that results when water withdraws from the land. Avulsion - Answer -Sudden removal of land by water Erosion - Answer -Gradual wearing away of land or rock by water Allodial System - Answer -Ownership of real property that is independent of superior landlord. PETE - Answer -Police power, eminent domain, taxation and Escheat Police Power - Answer -Right the state government has to enforce order and to protect the general welfare, health, safety and morals of the public Enabling Acts - Answer -State rights are passed to the counties through this legislation Zoning - Answer -Separate the use of property Eminent Domain - Answer -Right the government has to take privately owned property for public use Condemnation - Answer -Process to take land through Eminent Domain Severance Damages - Answer -What the owner receives through Eminent Domain Inverse Condemnation - Answer -When an owner asks to be condemned due to their land value lowering because of negative changes made by neighboring land by the government
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