Principles of Real Estate 1- Champions Quiz WITH ANS 2024
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Course
CHAMPIONS OF REAL ESTATE
Institution
CHAMPIONS OF REAL ESTATE
Contracts with a person who lacks mental capacity can be - Answer either void
or voidable
Community property is a concept of - Answer Spanish law, and marriage is
regarded as a partnership.
Intermediary Without Appointments. - Answer an agent will have the opportunity
to sell their own listing...
Contracts with a person who lacks mental capacity can be - Answer either void
or voidable
Community property is a concept of - Answer Spanish law, and marriage is
regarded as a partnership.
Intermediary Without Appointments. - Answer an agent will have the opportunity
to sell their own listing.
Oil and gas companies employ - Answer a large number of individuals with a real
estate background.
The NFIP - Answer offers flood insurance
The NFIP offers flood insurance to - Answer homeowners, renters, and business
owners
The vast majority of homes built in the United States are - Answer site built.
When a condominium is sold, three interests are created: - Answer fee simple
ownership of the unit, fee simple ownership in an undivided interest in the
common areas, and an easement to the airspace occupied by the unit.
The Bureau [CFPB] is responsible for enforcing - Answer federal consumer
financial law
To convert 152,460 square feet of land: - Answer 152,,560 = 3.5
Exclusive agency agreements - Answer list their properties with a broker,
primarily to expose their properties through the multiple listing service
Easements may be created by - Answer grant, reservation, implied grant,
prescription, necessity, condemnation.
The Texas Real Estate Commission consists of - Answer of nine members and
three members who represent the public.
cooperative sale with single buyer representation - Answer If the buyer
purchases a property listed by another firm
, If the buyer purchases a property listed by another firm, - Answer The listing firm
represents the seller, and the selling firm represents the buyer
Community property - Answer marriage is regarded as a partnership.
Mutual Consent - Answer Offer and Acceptance
An estate in severalty - Answer involves ownership of real estate by one
individual or entity.
Real estate brokers recommend this listing - Answer grants an exclusive right to
sell the property during the listing term.
exclusive right to sell - Answer A commission is paid even if the property is sold
by the owner
TREC has promulgated sales contract forms for most residential properties
including - Answer One-to-Four Family Residential Contract (Resale), New Home
Contract (Incomplete Construction), New Home Contract (Completed
Construction), Unimproved Property Contract, Residential Condominium
Contract (Resale), Farm and Ranch Contract.
Liens can be - Answer specific or general
Violation of the law is - Answer a civil offense
Passed in 1973 - Answer DTPA allows an aggrieved consumer to sue a seller of
goods for damages
Units in a cooperative - Answer are most often owned by a corporation
Indestructibility, a physical characteristic of land, is also known as: - Answer
Durability
A professional association whose local affiliates own and operate MLS systems
throughout the United States is the: - Answer NAR
Appraisal is the business of: - Answer Providing a professional opinion of the
value of real property
The least important factor affecting demand for real estate is - Answer Personal
preference
Air rights are commonly leased or conveyed in - Answer Cell tower leases,
Condominiums, Outdoor advertising
Rights that are associated with the ownership of real property are often referred
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