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12 Cards in this Set
- Front
- Back
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A real estate salesperson may
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accept compensation only from the broker whom the salesperson is or was licensed.
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A real estate broker's license is NOT require of a person who
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offers to list real estate for sale.
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The Texas Real Estate Commission is composed of
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nine members, six of whom are brokers and three of whom are lay members, each appointed by the governor w/senate approval.
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An applicant for a Texas real estate licence must be
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at least 18 years old & be a legal resident of Texas at the time of filing the application of be a legally admitted alien.
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Maximum license renewal fees are sea by
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statute.
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A licensee who draws an earnest money contract instead of using a form promulgated for a specific purpose
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Shall have his or her license revoked or suspended.
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To collect a commissioon through litigation, the seller's broker is NOT required to prove
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The buyer was aware of the commission amount.
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The License Act provides for
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a minimum of 15 classroom hours as a prerequisite to license renewal every two years after SAE requirements have been met.
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The borrower under a deed of trust is known as
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trustor
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The lender under a deed of trust is known as the
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beneficiary
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Prior to the foreclosure sale, a defaulting borrower seeks to pay off the debt plus any accrued interest & cost under the right of
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equitable redemption
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Which of the following is NOT a necessary element of a deed of mortgage?
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Signature of trustee
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