Texas Real Estate Promulgated Contracts

Texas Real Estate Law of Contracts with 168 well Defined Terms Guide for Upcoming Exams Updated 2024 Texas Real Estate Commission ANSWER TREC-created by the Legislature in 1949. 9 member commission whose primary purpose is to carry out the provision of the License Act Real Estate Recovery Trust Account ANSWER administered by TREC. the purpose of the account is to protect aggrieved individuals who suffer monetary loss due to illegal acts of license holders unlawful practice of law ANSWER l...

Texas Real Estate Promulgated Contracts Terminologies Combo with Verified Definitions 2024 TRELA (Texas Real Estate License Act) ANSWER In 1939 the legislature passed the Real Estate Dealer's License Act, which required real estate agents to obtain licenses. This act was administered by the secretary of state until 1949, when the Texas Real Estate Commission assumed the administrative. Changed then to TRELA. License holders are governed by TRELA. The main purpose is to protect the public fr...