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60 Cards in this Set

  • Front
  • Back
Planned mix of diverse land uses such as housing and recreation in one comprehensive plan - use of buffer zones - can build more homes on less land
Planned Unit Development (PUD)
Ordinances that specify standards for construction - maintenance - demolition - controlled by building permits and inspections
Building Codes
apply to the location of streets, minimum lot size, sewer, water, utilities, etc.
Subdivision Regulations
Private restrictions written into deeds or leases that limit the use of property are called
Deed Restrictions

Covenants, Conditions & Restrictions (CC&R's)
The violation of a condition can give the grantor the right to take back ownership is
Deed Conditions
Which type of lien generally takes priority over other liens
Real Estate taxes
"According to the Value" - includes taxes levied on real estate by various governmental units and municipalities
Ad Valorem Tax
Used in some states to correct general inequalities in statewide tax assessment is known as a
Equalization Factor
Special taxes levied on real estate; require property owners to pay for improvments that specifically benefit their real estate are known as
Special Assessments

(ex. installation of a curb, gutter, streets, water system, sewers)
Portions of land located near running bodies of water that are subject to flooding is known as a
Areas of land where groundwater is close to or at the surfaceof the ground for a period of time each year that mya produce swamps, flood plains or marshes are known as

(covered by various federal, state, and local controls)
Zoning laws that reflect environmental as well as health and safety concerns
Shoreline Regulation

(tree-cutting rules, set back requirements, filling and grading controls, waste disposal)
the State of Texas easement is how many feet of shoreline for public use?
100 feet
Increasing public awareness of and concern about pollution problems and their health and economic effects have had significant consequences on real estate and values is called
Environmental Concerns
An odorless radioactive gas - comes into house through holes in the foundation or basement - long-term exposure is believed to cause lung cancer
Radon Gas
Material used as insulation or plumbing pipes and heat ducts - may become life-threatening during its removal b/c of accompanying dust is
A synthetic material used to insulate buildings - pumped between walls as a foam - b/c dangerous when it hardens due to release of gases
Urea-Formaldehyde Foam Insulation (UFFI)
Health hazard when ingested - requires disclosure if built before 1978 - attached as a sep. item to all sales and leases

(buyers have 10 days to have a test ran)
Used in the manufacture of electrical products such as voltage regulators as well as in paints and caulking materials - has not been used since 1977
PCB's (Polychlorinated Biphenyls)
Landfill - site that has been excavated and should be lined w/ clay or synthetic liner to prevent leakage into the water system
Waste Disposal Sites - Landfill Operations

(heavily regulated by state and federal authorities)
Used in residential and commercial setting for years - hold hazardous substances such as gasoline. Risk occurs when it becomes old, rust and starts to leak.
Underground Storage Tanks
Systems that are sources of wells for both private and public facilities - contamination include: waste-disposal sites, underground storage tanks an dpesticides and hebicides used in farming
Groundwater Contamination
Generated by movements of electrical currents - subject of causing cancer and related health problems
Electromagnetic Fields (EMFs)
Created to regulate the generation, transportation, storage, use, treatment, disposal, and cleanup of hazardous waste is the
Resource Censervation and Recovery Act(RCRA) of 1976
Created in 1980 - established superfund (9 billion) to clean up uncontrolled hazardous waste dumps and respond to spills
The Comprehensive Environmental REsponse Compensation and Liability Act (CERCLA)
Established in 1984 and governs the installation, maintenance, monitoring, and failure of underground storage tanks
Leaking Underground Storage Tanks (LUST) Regulations
created in 1986 - established stronger cleanup standards for contaminated sites
Superfund Amendments and Reauthorization Act (SARA)
Provides the backdrop for existing legislation to catch situations that do not specifically fall w/in the law.
Common Law
Fiduciary Duties of Agent to Client / Principal -
Reasonable Care and Diligence
Duties of Principal / Client to Agent -
Performance, Indemnification/Information, Reimbursement
Fiduciary relationship between the principal and the person (agent) representing the principal is called an
Definitive statement of parties intentions - written or oral is what kind of agency
Express Agency
Actions by licensee "implies" agency - advice & opinions - person believes agency created is called an
Implied Agency
"For all appearances" - Third party believes that an agency relationship exists is called an
Obstensible Agency
Agency "after the fact" - Principal ratifies action of agent by accepting benefits
Free advice & opinions can still make agent liable for wrong advice, etc. is
All Agency relationships flow from who
Sponsoring Broker
Power of Attorney - Agent empowered to conduct all business and bind principal accordingly is what type of agency
Can perform series of certain types of transactions - Relationship: broker to salesperson is
Limited Agency - Specific things only - Relationship: Client to listing agent/buyer agent is
Duties to Customer:
Fair and honest treatment and FULL disclosure of all material facts
TREC licensed individual
TREC licensee who can act as an independent - can charge fee for work
TREC licensee who can NOT be independent - must work as agent for a broker
Broker license but works for another broker / follows other broker's rules
Broker Associate
Works for sponsoring broker as an agent / follows duties assigned by broker
Sales Associate
Broker who represents a client / Broker-Sales Associates represent broker
Licensee who works for another Spronsoring Broker (diff. firm) who always brings a customer (NEVER a client) to the transaction
Represents Seller / Listing Agent or Listing Broker
Seller's Agent
Represents Buyer / Buyer's Agent / Selling Broker / Selling Agent
Buyer's Agent
Person who hires agent (fiduciary relationship) - interests are protected by Law of Agency. Agent must represent clients' best interest - Remember - Broker level relationship
Client / Principal
Person who does NOT have an agent - represents themselves - Licensee must treat honestly and fairly - but cannot give advice and opinions
Customer / Third Party
Can only be sponsoring broker - MUST be in writing - stays "neutral"
Appointed by Intermediary to represent client - can be more than one agent to each
Appointed Licensee
Agent who assists Intermediary in transaction where no appointments are made - no advice or opinions
Non Appointed Licensee
Broker/Agent who reprensent both sides in same transaction - remain neutral - legal if full disclosure is made - no advice or opinions
Dual Agent
Represent both sellers and buyers - but never in the same transaction
Single Agency
Will represent both buyers and sellers in the same transaction
Intermediary / Dual Agency
Represent buyers only - do not take listings / represent sellers.
Exclusive Buyer Agent
Represent sellers only - do not represent buyers.
Exclusive Seller Agency