Texas Real Estate Principles I-Chapter 7/8

A person who files a petition for judicial review must request the court to stay enforcement by filing with the court an affidavit stating that the person is financially unable to pay the penalty and is financially unable to give the supersedeas bond. The person must file that petition within what period of time?

30 days

Vara

33 1/3 inches (This measurement is specific to Texas real estate and is used according to Texas statute).

How many principal meridians are in the national rectangular survey system?

37

Acre

43560 sq. feet; 160 sq. rods

Mile

5280 feet; 1760 yards; 320 rods

According to the Sunset Act, when would the licensee code expire if it isn't renewed?

6 years after its last renewal

Section

640 acres

square mile

640 acres

Chain

66 feet, 4 rods, 100 links

Square Yard

9 square feet

What type of survey is often used as a base to design future improvements?

A boundary and topographic survey

What is the definition of a legal description?

A description which accurately locates and identifies the boundaries of the subject parcel to a degree acceptable by courts of law in the state where the property is located.

What information must a license applicant submit for the purpose of obtaining criminal history record information from the Department of Public Safety and the Federal Bureau of Investigation?

A legible set of fingerprints, on a form prescribed by the commission.

What are the investigation rules relating to an anonymous complaint?

An investigation or other action against a person licensed under this chapter or Chapter 1102 may not be initiated on the basis of an anonymous complaint.

According to state law, a business entity refers to

Any domestic entity or foreign entity as defined by Section 1.002, Business Organizations Code

TRELA

-Contained in Title 7, Chapter 1101, of the Texas statutes. -Primary purpose of the license law is to protect the public from dishonesty or incompetence among real estate agents.

Subchapter F

-Creates the Texas Real Estate Broker-Lawyer Committee -Describes what duties the members on this committee have with regard to creating and revising the standard contracts Texas licensees use.

Texas Real Estate Broker-Lawyer Committee

-6 members appointed by the commission -6 members of the state bar of Texas appointed by the president of the state bar -1 public member appointed by the governor

Texas Sunset Act

-Passed in 1977 -Provided for a Commission to review most state agencies every 6 years. -Purpose is to determine if they should be continued or abolished.

What situations require a legal description?

-Public recording -Creating a valid deed of conveyance or lease -Completing mortgage documents -Executing and recording other legal documents

Lot and Block Method

-This system describes properties in residential, commercial, and industrial subdivisions. -The description of a recorded plat property first presents the property's lot number of letter, then the block identifier and subdivision name.

cubic yard

27 cubic feet

Square foot

144 square inches

Rod

16.5 feet or 5.5 yards

How old does a person need to be to receive a real estate license?

18 years of age

What is the liability of a licensee when a party to a real estate transaction concealed a material fact.?

A licensee is NOT LIABLE for a misrepresentation or concealment of a material fact made by a party to a real estate transaction, unless the licensee knew of the misrepresentation or concealment and failed to disclose it.

What is meant by the term substantive dialogue?

A meeting or written communication that involves a substantive discussion relating to specific real property. The term does not include a meeting that occurs at a property that is held open for any prospective buyer or tenant or a meeting or written communication that occurs after the parties to a real estate transaction have signed a contract to sell, buy, or lease the real property concerned.

What is a licensee liability with regard to disclosures about HIV or AIDS?

A person is not civilly or criminally liable because the person failed to inquire about, make a disclosure relating to, or release information relating to whether a previous or current occupant of real property had, may have had, or may have AIDS, an HIV-related illness, or HIV infection as defined by the Centers for Disease Control and Prevention of the United Service

What is the training required of a commissioner before they vote or deliberate?

A person who is appointed to and qualifies for office as a member of the commission may not vote, deliberate, or be counted as a member in attendance at a meeting of the commission until the person completes a training program that complies with this section.

What is the definition of a salesperson?

A salesperson is a person who is associated with a licensed broker for the purpose of performing an act described in the definition of broker.

Subchapter J

Addresses all of the license renewal requirements and procedures

Subchapter P

Addresses civil penalties for violations by brokers, salespersons, and certificate holders and it also addresses penalties for unlicensed persons.

Subchapter A

Addresses the general provisions of the law, including definitions, core real estate courses, and exempt persons.

Subchapter O

Addresses the procedures the commission will employ to assess an administrative penalty for anyone who commits an act in violation of the license act or any commission rule.

Sec. 1101.502 Eligibility Requirements for "Right of Way" Certificate says that a person must be .....to be eligible to receive a certificate of registration or a renewal certificate under Subchapter L.

Be at least 18 years of age and a citizen of the United States or a lawfully admitted alien.

What order can be give by TREC to stop an illegal real estate-related activity?

Cease and Desist Order

Subchapter H

Contains very detailed information about the requirements for obtaining a broker or salespersons license.

Subchapter Q

Deals with a licensee's liability pertaining to certain disclosures and also discusses a broker's responsibility for the acts and omissions of any of his or her affiliated licensees.

Subchapter L

Deals with how a broker is required to maintain his or her physical office address. It also covers title notice, property disclosures, and agency relationships.

Subchapter E

Deals with the procedures for letting the public know how to file a complaint. -It also covers what action the commission takes when someone files a written complaint against a licensee. -Commission may not conduct an investigation of a person licensed under this chapter or chapter 1102 in connection with a complaint submitted later than the 4th anniversary of the date of the incident that is the subject of the complaint.

Subchapter K

Deals with the rules for " right of way" agents. A right of way agent is one who sells, buys, leases, or transfers an easement or other right of way for another person and is compensated for doing so.

Subchapter M, 1101.604 Management of Trust Account

Describes how the funds must be handled.

Subchapter H, 1101.367 Inactive License: Salesperson

Describes rules relating to inactivating a salesperson license. When the association of a salesperson with the salespersons sponsoring broker terminates, the broker must immediately return the salesperson license to the commission.

Subchapter C

Describes the TREC'S power to appoint an Executive Director, an assistant Executive Director, officers, and other personnel as needed to discharge the Commission's duties.

Subchapter B

Describes the makeup of the Texas Real Estate Commission

Subchapter C, 1101.101 Executive Director and Other Personnel

Describes the personnel the commission will or may appoint.

Subchapter D

Describes the powers and duties of the Commission, among them to administer Chapter 1101 Chapter 1102, which contains the laws governing real estate inspectors.

Subchapter I, 1101.404 Examination Results

Discusses how exam results will be handled

Subchapter I, 1101.401 Examination Required

Discusses the competency exam that the commission requires

Subchapter I, 1101.403 Administration of Examination, Testing Service

Discusses who will be responsible for administering the exam.

Subchapter C, 1101.102 Executive Director and Other Personnel

Division of Responsibilities

A commission member would be removed from office under what conditions?

Does not have the required qualifications at the time of appointment. -Does not maintain the required qualifications during service on the commission -Is ineligible for membership -Cannot discharge the member's duties for a substantial part of the member's term -Is absent from more than half of the regularly scheduled commission meetings during each calendar year, unless the absence is excused by majority vote of the commission.

What happens if the balance in the trust account falls below $1 million?

Each license holder at the next license renewal must pay, in addition to the renewal fee, a fee that is equal to the lesser of $10 or a pro rata share of the amount necessary to obtain a balance in the trust account of $1.7 million.

In a rectangular survey system, parallels run which direction?

East and West

Subchapter M

Establishes a Real Estate Recovery Fund for the protection of the public against harmful actions by licensees.

Subchapter B, 1101.058 Per Diem, Reimbursement

Explains what a commission member is entitled to receive in compensation as $75 for each day the member performs the member's official duties, reimbursement for actual and necessary expenses incurred in performing the members' official duties, reimbursement for the travel expenses incurred in attending the training program.

What type of survey uses portable receiving antennas to gather data transmitted from satellites which are then used to calculate the position of an object on the surface of the Earth?

GPS

What land survey system relies on point of beginning? POB

Metes and Bounds

The British developed what type of land survey system

Metes and bounds

Where must the interest from the investments in the trust account be deposited?

Interest from the investments must be deposited to the credit of the trust account.

What is the Public Land Survey System?

Is the method traditionally used over the largest part of the United States to survey and classify land parcels before naming an owner.

Subchapter N

Lists a number of actions a licensee could perform that would result in the revocation or suspension of his or her license.

Subchapter N, 1101.651 Certain Practices Prohibited

Lists actions which TRELA prohibits.

What type of survey is a boundary survey with the additional location of all the interior improvements?

Location survey

How may the money in the trust account be invested?

Money credited to the trust account may be invested in the same manner as money of the Employees Retirement System of Texas, except that an investment may not be made that would impair the liquidity necessary to make payments from the trust account as required by Subchapter M.

An on-site manager of an apartment complex is:

Not required to hold a real estate license

Subchapter J, 1101.451 License Expiration and Renewal

Outlines all the rules for renewing a license.

Subchapter G, 1101.301 Accreditation of Programs and Courses of Study

Outlines how education courses will be established and approved.

Subchapter G

Outlines how the commission will establish education standards and what the approval process for real estate courses will be

Subchapter H, 1101.351 License Required

Outlines what a person is prohibited from doing without a license.

Subchapter O, 1101.705 Hearing, Decision

Says that if the person requests a hearing, the Executive Director must set a hearing and give notice of the hearing to the person.

Subchapter O, 1101.702 Amount of Penalty

Says that the amount of an administrative penalty may not exceed $5000 for each violation.

Subchapter M, 1101.601 Real Estate Recovery Trust Account

Says that the commission will maintain a real estate recovery trust account to reimburse aggrieved persons who suffer actual damages caused by a license holder.

Subchapter I, 1101.402 Waiver of Examination

Says that the commission will waive the examination requirement for an applicant for a license under certain conditions. If the applicant was previously licensed in this state as a broker or salesperson and the application is filed before the first anniversary of the expiration date of that license.

Datums

Standard elevation reference points

When did the Public Land Survey System begin?

Shortly after the American Revolution when the federal government became responsible for issuing large areas of land to soldiers in reward for their services as well as selling land to raise money for the country.

Texas Real Estate Broker-Lawyer Committee serve:

Staggered 6 year terms, with the terms of 2 commission appointees and two State Bar of Texas appointees expiring every two years and the term of the public member expiring every six years.

Subchapter D, 1101.158 Advisory Committees

States that the commission may appoint advisory committees to perform the advisory functions assigned to the committees by the commission, serving at the will of the commission.

Subchapter J, 1101.453, Additional Renewal Requirements for Business Entities

States that to renew a license under this chapter, a business entity must designate one of its managing officers as its agent and provide proof that the entity maintains errors and omissions insurance with a minimum annual limit of $1 million for each occurrence if the designated agent owns less than 10% of the business entity.

Which entity adopts rules to charge and collect fees for conducting a criminal history check for issuing or renewing a license?

TREC

What does Texas law require in order to record a plat with the county?

That all taxes, both current and delinquent, be paid

What is the purpose of the Real Estate Recovery Fund?

The Real Estate Recovery Fund was established for the protection of the public against harmful actions by licensees.

For how long is a license active before renewal is required?

Twenty-four months

What is the makeup of the Texas Broker Lawyer Committee and who appoints them?

The Texas Real Estate Broker-Lawyer Committee is made up of 13 members appointed as follows: -6 members appointed by the commission. -6 members of the state bar of Texas appointed by the president of the state bar -1 public member appointed by the governor

What must a broker do with regard to his or her affiliated licensees if the broker is applying for inactive license status?

The broker must terminate his or her association with each affiliated salesperson by giving written notice to each salesperson before the 30th day preceding the date the broker applies for inactive status.

What are the rules for non-English speaking persons with regard to access of the commission's programs?

The commission must prepare and maintain a written plan that describes how a person who does not speak English or who has a physical, mental, or developmental disability may be provided reasonable access to the commission's programs.

What must be submitted for the Commission to investigate the actions of a licensee?

The commission will investigate the actions and records of a license holder if: -A person submits a signed, written complaint -The complaint, and any evidence presented with the complaint, provide reasonable cause for an investigation.

What is the status of a license that has not been renewed in two years?

The person must reapply

What is the purpose of the license law?

The primary purpose of the license law in any state is to protect the public from dishonesty or incompetence among real estate agents. To accomplish this, the law defines minimum standards and qualifications for agents.

What must a surveyor know to describe a property located above or below the earths' surface?

The property's elevation

How may an advisory committee conduct meetings?

They may hold a meeting by telephone conference call, video conferencing, or other broadcast technology.

What does the rules relating to contract forms say about license holder's use?

They require license holders to use contract forms prepared by the Texas Real Estate Broker-Lawyer Committee and adopted by the commission.

When are property surveys most often conducted?

When land is being sold.

Is a Rental Locator required to have a license under Chapter 1101?

Yes

Aliquot part

a quarter or half division of a section of land

Meridians

lines of longitude

Subchapter I

sets out the rules for how a license applicant will be judged as competent to practice as a real estate agent. It deals with the aspects surrounding the examination process