Texas Deceptive Trade Practices - Consumer Protection Act

Question 1

What is the DTPA?

Answer 1

It protects consumers from any false, misleading, or deceptive acts or practices by brokers and other providers of goods and services

Question 2

What is the Seller’s Disclosure Notice?

Answer 2

Documents what the sellers know about the property and provides a list of appliances and whether or not they are working

Question 3

What is the Real Estate License Act?

Answer 3

Obligates licensees to disclose any known or latent defects in a property

Question 4

Explain Fraud in Real Estate and Stock Transactions Statute, Article 27.01, Business and Commerce Code

Answer 4

States that anyone who stands to gain from a real estate transaction is assumed to have known all aspects related to the transaction. Fraud is the intent to deceive. Statutory fraud includes misrepresentation as well as unfulfilled promises