Texas Real Estate Law - SAE Champions
School Of Real Estate Questions With
Complete Solutions
CERCLA Liability Rules - Correct Answers ✅Hazardous
Substance Liability
1. Owner 2. Prop Manager 3. Cleaner of the Facility
Fair Credit Reporting Act - Correct Answers ✅A federal law
that established procedures that consumer-reporting
agencies must follow in order to ensure that records are
confidential, accurate, relevant and properly used.
Truth in Lending Act - Correct Answers ✅An act which
requires lenders to inform borrowers of all direct, indirect and
true costs of credit.
Equal Credit Opportunity Act (ECOA) - Correct Answers
✅The federal law that prohibits discrimination in the
extension of credit because of race, color, religion, national
origin, sex, age, or marital status.
CERCLA - Correct Answers ✅Comprehensive
Environmental Response, Compensation, and Liability Act
Title Theory - Correct Answers ✅Legal concept that vests
title to mortgaged property in the mortgagee (lender) or a
third party.
, Texas Real Estate Law - SAE Champions
School Of Real Estate Questions With
Complete Solutions
Lien Theory - Correct Answers ✅Some states interpret a
mortgage as being purely a lien on real property. The
mortgagee thus has no right of possession but must foreclose
the lien and sell the property if the mortgagor defaults. (Texas
is a Lien Theory State)
Extraterritorial Jurisdiction - Correct Answers
✅Unincorporated land area beyond the geopolitical
boundaries of a city over which the city exercises limited plat
review of development.
Intermediary Relationships - Correct Answers ✅Broker reps
both the buyer and seller Broker remains neutral and avoids
negotiating. The broker must first get written consent of both
parties
Sources of Law - Correct Answers ✅statutory law- state
and federal law. In the Area of real estate State law has been
the controlling law as the uniqueness and backgrounds in
each state.
Control of Land Used by City- Primary Method - Correct
Answers ✅zoning statutes indirect municipal power use
Types of Ownership - Correct Answers ✅Ownership in
Severalty, Tenancy in Common, Joint Tenancy
School Of Real Estate Questions With
Complete Solutions
CERCLA Liability Rules - Correct Answers ✅Hazardous
Substance Liability
1. Owner 2. Prop Manager 3. Cleaner of the Facility
Fair Credit Reporting Act - Correct Answers ✅A federal law
that established procedures that consumer-reporting
agencies must follow in order to ensure that records are
confidential, accurate, relevant and properly used.
Truth in Lending Act - Correct Answers ✅An act which
requires lenders to inform borrowers of all direct, indirect and
true costs of credit.
Equal Credit Opportunity Act (ECOA) - Correct Answers
✅The federal law that prohibits discrimination in the
extension of credit because of race, color, religion, national
origin, sex, age, or marital status.
CERCLA - Correct Answers ✅Comprehensive
Environmental Response, Compensation, and Liability Act
Title Theory - Correct Answers ✅Legal concept that vests
title to mortgaged property in the mortgagee (lender) or a
third party.
, Texas Real Estate Law - SAE Champions
School Of Real Estate Questions With
Complete Solutions
Lien Theory - Correct Answers ✅Some states interpret a
mortgage as being purely a lien on real property. The
mortgagee thus has no right of possession but must foreclose
the lien and sell the property if the mortgagor defaults. (Texas
is a Lien Theory State)
Extraterritorial Jurisdiction - Correct Answers
✅Unincorporated land area beyond the geopolitical
boundaries of a city over which the city exercises limited plat
review of development.
Intermediary Relationships - Correct Answers ✅Broker reps
both the buyer and seller Broker remains neutral and avoids
negotiating. The broker must first get written consent of both
parties
Sources of Law - Correct Answers ✅statutory law- state
and federal law. In the Area of real estate State law has been
the controlling law as the uniqueness and backgrounds in
each state.
Control of Land Used by City- Primary Method - Correct
Answers ✅zoning statutes indirect municipal power use
Types of Ownership - Correct Answers ✅Ownership in
Severalty, Tenancy in Common, Joint Tenancy
