Module 6

Question 1

A TREC promulgated contract for use where the seller does not own fee simple title to the land beneath the unit

Answer 1

Residential Condominium Contract

Question 2

A TREC promulgated contract for use where the land being sold is greater than 10 acres and includes land, improvements, accessories and crops

Answer 2

Farm and Ranch Contract

Question 3

The evaluation of the tax burden of properties for agricultural use

Answer 3

Agricultural use valuation

Question 4

Additional taxes, penalties, or interest that are imposed because of use or change in use of the property

Answer 4

Rollback taxes

Question 5

Promotes the development of agricultural facilities that result in employment and economic activity

Answer 5

Texas Agricultural Use District

Question 6

A TREC promulgated contract form used for the sale of property that has no improvements but is only land

Answer 6

Unimproved Property Contract

Question 7

TREC has two new home contracts, one for completed construction and another for incomplete construction

Answer 7

New Home Contract

Question 8

Sum of all Financing
The amount borrowed is in paragraph

Answer 8

3B

Question 9

Paragraph 8B
License holders must disclose when they have a relationship with one of the parties to the contract such as

Answer 9

when acting on behalf of a spouse, parent, or child

Question 10

Farm and Ranch Improvements include

Answer 10

windmills, tanks, barns, pens, fences, gates, sheds, outbuildings, and corrals