Tenacy - Study guides, Class notes & Summaries

Champion School of Real Estate-Law of Contracts Exam 2023. 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 license holder is not qualified to a...

USPAP Uniform Standards of Professional Appraisal Practice recognized as the Industry standard in 1989 by FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) Competency Rule If not competent in property type hired to appraise, you must disclose that or turn it down. If another appraiser helps you, you must report that and who it was. Scope of Work how much and what kind of work needed... type of data to be searched in order to reach conclusions Chapter ...

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 license holder is not qualified to add provisions to contracts that go beyond factual business de...

The term "property" refers to - ANSWER-The rights or interests in the thing owed Which of the following is considered real property? - ANSWER-Airspace above the land Which of the following is considered personal property? - ANSWER-Leasehold estate which of the following is considered personal property - ANSWER-emblements The highest quality and quantity of ownership in real property is: - ANSWER-fee simple Which test is not a general test of a fixture - ANSWER-Time of attachemen...

The term "property" refers to - ANSWER-The rights or interests in the thing owed Which of the following is considered real property? - ANSWER-Airspace above the land Which of the following is considered personal property? - ANSWER-Leasehold estate which of the following is considered personal property - ANSWER-emblements The highest quality and quantity of ownership in real property is: - ANSWER-fee simple Which test is not a general test of a fixture - ANSWER-Time of attachemen...

USPAP Uniform Standards of Professional Appraisal Practice recognized as the Industry standard in 1989 by FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) Competency Rule If not competent in property type hired to appraise, you must disclose that or turn it down. If another appraiser helps you, you must report that and who it was. Scope of Work how much and what kind of work needed... type of data to be searched in order to reach conclusions Chapter ...