Exam (elaborations)
Texas SAE Real Estate Law - Champions Questions And Answers Latest Update
- Course
- Texas Real Estate
- Institution
- University Of Texas - Austin
Texas SAE Real Estate Law - Champions Questions And Answers Latest Update
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Solution 2024/2025Pepper
Texas SAE Real Estate Law - Champions
Questions And Answers Latest Update
Texas Constitution items ANS✔✔ Community property, mechanical liens,
materialman lanes, ad valorem, homestead protection, forced sale, taxes
due, owelty of partition, refinance of a lien
Courts of Law ANS✔✔ Structures developed through basic legal principles
and doctrines of equity, the written aspects of a transaction more carefully
and rigorously adhered to
Courts of equity ANS✔✔ Established to soften the impact of strict legal
principles. They have concurrent jurisdiction with a court of law, and would
impose jurisdiction when fairness or equity dictated that these rules in some
circumstances were too strict.
Arbitration ANS✔✔ An out-of-court resolution of a dispute between parties to
a contract, decided by an impartial third person
Mediation ANS✔✔ A procedure to settle a legal dispute using a third party
mediator
Freehold Estates ANS✔✔ An estate in land in which ownership is for an
indeterminate length of time, in contrast to a leasehold estate.
, Solution 2024/2025
Pepper
Condition limitation ANS✔✔ Exist with the estate is limited to the happening
of a certain event and when such an event happens the estate is terminated
and reverts to the grantor.
Condition subsequent ANS✔✔ Gives the grantor the right to terminate the
estate by reversion rather than the automatic reversion
condition precedent ANS✔✔ The title passed by a deed search that the title
will not take affect in the named Grantee until a condition is performed
Statutory Estate ANS✔✔ created by law, in TX community property,
Cemetery lots, Texas water rights and homestead are examples
Community property ANS✔✔ Every parcel of real estate property acquired
after marriage
Separate property ANS✔✔ Exceptions to community property (Property on
prior to marriage, acquired by gift, devise, or discent during marriage,
recovery for personal injuries, military and non-disability retirement benefits
if married for less than 10 years)
Legal description of land ANS✔✔ The writing must furnish within itself, or by
reference to some other existing writing, the means or data by which the
particular land to be conveyed may be identified with reasonable certainty.
Severalty ownership ANS✔✔ Individual ownership
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