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Texas Real Estate Law - SAE Champions School Of Real Estate Questions And Answers Latest Update $15.99   Add to cart

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Texas Real Estate Law - SAE Champions School Of Real Estate Questions And Answers Latest Update

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Texas Real Estate Law - SAE Champions School Of Real Estate Questions And Answers Latest Update

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  • October 24, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
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Solution 2024/2025
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Texas Real Estate Law - SAE Champions School
Of Real Estate Questions And Answers Latest
Update

CERCLA Liability Rules ANS✔✔ Hazardous Substance Liability

1. Owner 2. Prop Manager 3. Cleaner of the Facility



Fair Credit Reporting Act ANS✔✔ A federal law that established procedures
that consumer-reporting agencies must follow in order to ensure that
records are confidential, accurate, relevant and properly used.



Truth in Lending Act ANS✔✔ An act which requires lenders to inform
borrowers of all direct, indirect and true costs of credit.



Equal Credit Opportunity Act (ECOA) ANS✔✔ The federal law that prohibits
discrimination in the extension of credit because of race, color, religion,
national origin, sex, age, or marital status.



CERCLA ANS✔✔ Comprehensive Environmental Response, Compensation,
and Liability Act



Title Theory ANS✔✔ Legal concept that vests title to mortgaged property in
the mortgagee (lender) or a third party.



Lien Theory ANS✔✔ Some states interpret a mortgage as being purely a lien
on real property. The mortgagee thus has no right of possession but must

, Solution 2024/2025
Pepper
foreclose the lien and sell the property if the mortgagor defaults. (Texas is a
Lien Theory State)



Extraterritorial Jurisdiction ANS✔✔ Unincorporated land area beyond the
geopolitical boundaries of a city over which the city exercises limited plat
review of development.



Intermediary Relationships ANS✔✔ Broker reps both the buyer and seller
Broker remains neutral and avoids negotiating. The broker must first get
written consent of both parties



Sources of Law ANS✔✔ statutory law- state and federal law. In the Area of
real estate State law has been the controlling law as the uniqueness and
backgrounds in each state.



Control of Land Used by City- Primary Method ANS✔✔ zoning statutes
indirect municipal power use



Types of Ownership ANS✔✔ Ownership in Severalty, Tenancy in Common,
Joint Tenancy



Texas Homestead ANS✔✔ Texas Homestead laws are created by the Texas
Constitution to provide special protections to land and the improvements
thereon. Only certain land in certain amounts can qualify for these special
protections and interests.



Effective Dates Contracts ANS✔✔ The date all parties sign

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