TEST QUESTIONS Flashcards
A buyer defaults a real estate contract and the seller decides to keep the earnest money deposit. What default remedy did the seller choose?
Liquidated damages
The TREC buyer and seller temporary lease agreements are for periods of ____.
90 days or less
when a buyer occupies the property for no more than 90 days prior to closing, what type of lease it is?
Buyer’s temporary residential lease
An agreement that allows a tenant the right to match or better any offer that the landlord may receive on a property before it is sold to someone else is ____.
The right to first refusal
DTPA considers brokerage to be a
services
is a body of law developed in England and based upon”common sense” and local custom
Common Law
if personal property is being transferred along with real property, a ___ is generally used to accomplish the transfer
Bill of sale
The value is affected by man-made changes to the land. The changes can be made on the land itself or off-site. this is referred as____?
Modification
It involves ownership of real estate by one individual or entity.
Estate in Severalty
