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(TRELA) The Real Estate License Act - provides the statutory guidelines stipulating the duties of disclosure of license holder agency relationships. A breach of duty - includes acts of commission or omission on the part of the license holder which constitute a violation of the agency agreement A...

"As is" clause - If there is no due diligence period, then the property is sold "as is." These are transactions in which the seller decides beforehand that they will not agree to any repairs on the property and that the property will be sold in the condition as is. does not protect the seller...

Apartment Locator - A real estate license holder who locates dwelling units for prospective tenants. In Texas an apartment locator has to have a real estate license. Article 11 - Be competent in the services you perform and don't attempt to provide services outside of your shop of practice UNLES...

Apartment Locator - A real estate license holder who locates dwelling units for prospective tenants Broker - Someone who assists in buying and selling to recieve a commission. Client - The person that an agent is representing, made official through a representation document. Commercial Real Est...

A certificate of occupancy is issued by a governmental authority to indicate that: - a building is ready and fit for inhabitants A client request or instruction that is either illegal or unethical does not fall under the duty of: - obedience (The duty of obedience does not apply when the principa...

Addenda - Documents containing additional terms, information, or obligations that are attached to a contract Agency Relationship Disclosure - Agency relationships should be disclosed at first contact Agency Relationship Forms - TREC has chosen not to create contracts that establish agency relati...

"right of survivorship" - predetermines that when one co-owner dies, their ownership interest reverts to the surviving co-owners 2 Years - How often can homeowners take advantage of capital gains exemption under the Taxpayer Relief Act of 1997? 200 acres for families, 100 acres for individuals...