Texas Real Estate Quiz part 2

John and Mary are co- owners of a prop. John has 60% interest and Mary 40% What type of Freehold estate do they have

Mary and John are Married with Children. Both are intestate. If John dies and Mary immed. Becomes the owner of their home, what type of ownership did they have?

Appraisers are most often asked to determine?

An appraiser is using the Market Data Approach to determine the value of a residential property. What is false?

A broker owes customers

A property at 123 main has been listed by Mary a sales license holder at ABC realty for several weeks. Last week Mary died. What effect will Marys death have on the listing agreement?

Which of the following is not a duty of an Agent?

A signed employment agreement is necessary to

A chem manu. co. Purchases a plant. After closing they discover what the prev. Owners had spilled hazardous materials on the land. According to CERCLA, who is liable for the cost of the clean up?

Which of the following does not pledge prop. As security for a debt.

Which of the following instruments is the promise to repay a debt?

What is the advantage to a borrower of the VA loan?

Where can you expect to find MIP

An investor/developer has borrowed money to build a retail shopping center. His lender has provided a very competitive interest rate, however when the investment prop is completed and sold the lender will collect the amount borrowed plus a percent of the developers profits. What type of loan is this?

The landlord pays the expenses of the property. The tenant pays rent and utilities. What kind of lease is this?

When a landlord allows the prop. Condition to detioriate so much that the tenants are forced to leave, it is called?

The Texas Real Estate Commission was created in 1949 primarily to?

According to TREC acting as a broker or sales agent without first obtaining a licenses is a

A tenant has vacated a rental property. He still owes rent. He has left personal property behind. The landlord cannot?

When a license holder has been assessed an admin penalty by TREC as a result of TREC determining an infraction of its rules, how long does the license holder have to pay that penalty?

Which of the following statements about mold remediation is false?

In order to be certified as a mold mediatior for TREC you need how many hours of ADR?

If a licenses holder under CE requirements, renews on time without the required education what will TREC do?

The tax on a given piece of real estate is determined by multiplying the tax rate of the assessing body by the ?

An instrument that is used to create a lien on real estate to secure the payment of a loan is?

A mortgage issued by the FHA usually is borrowed from

The amount of acres in a section is?

A morfgagee is a person who?

A judgement is a court decree

A buyer who has signed an offer to buy and later receives the sellers disclosure has how many days to terminate the offer after receiving the disclosure

An option given without actual consideration is?

The statutory information statement about agency must be provided

Economic Obsolesce results from all of the following except