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Texas Real Estate Contracts 4 th Edition © 2015 OnCourse Learning
Chapter 10: Specific Real Estate Forms © 2015 OnCourse Learning
Texas Real Estate License Act The Texas Real Estate License Act codified in the Texas Occupations Code was created to govern the real estate profession. The administration of the Texas Real Estate License Act was vested in the Texas Real Estate Commission. © 2015 OnCourse Learning
Texas Real Estate Commission The Texas Real Estate Commission has the authority and power to make and enforce all rules and regulations necessary – for the performance of its duties, – to establish standards of conduct for real estate licensees, and – to insure licensee compliance with the provisions of the Texas Real Estate License Act © 2015 OnCourse Learning
Texas Broker- Lawyer Committee Texas Real Estate Broker-Lawyer Committee was created, in part, to draft and revise contract forms capable of uniform use by real estate licensees. © 2015 OnCourse Learning
Rules for Use of Promulgated Forms A real estate licensee must use only those contract forms promulgated by the Texas Real Estate Commission for that kind of transaction. © 2015 OnCourse Learning
Exceptions transactions in which the licensee is functioning solely as a principal, not as an agent; transactions in which an agency of the United States government requires a different form to be used; transactions for which a contract form has been prepared by the property owner or prepared by an attorney and required by the property owner; © 2015 OnCourse Learning
Exceptions cont. transactions for which no standard contract form has been promulgated by the Texas Real Estate Commission, and the licensee uses a form prepared by an attorney at law licensed by this state and approved by the attorney for the particular kind of transactions involved or prepared by the Texas Real Estate Broker- Lawyer Committee and made available for trial use by licensees with the consent of the Texas Real Estate Commission. © 2015 OnCourse Learning
Practice of Law A licensee may not practice law. © 2015 OnCourse Learning
Authorized Practices Disclosing facts is permissible. © 2015 OnCourse Learning
Promulgated Residential Sales Contracts One to Four Family Residential Contract (Resale) (TREC 20-12) Unimproved Property Contract (TREC 9-11) New Home Contract (Incomplete Construction) (TREC 23-13) New Home Contract (Completed Construction) (TREC 24-13) Farm and Ranch Contract (TREC 25-10) Residential Condominium Contract (Resale) (TREC 30-11) © 2015 OnCourse Learning
Promulgated Addenda in this Chapter Addendum for Property Subject to Mandatory Membership in an Owners Association Environmental Assessment, Threatened or Endangered Species, and Wetlands Addendum Addendum for Sale of Other Property by Buyer Addendum for “Backup” Contract © 2015 OnCourse Learning
Promulgated Addenda cont. Condominium Resale Certificate Addendum for Coastal Area Property Addendum for Property Located Seaward of the Gulf Intracoastal Waterway Subdivision Information, Including Resale Certificate for Property Subject to Mandatory Membership in an Owners Association © 2015 OnCourse Learning
Promulgated Addenda Cont. Notice of Buyer’s Termination of Contract Amendment Addendum for Reservation of Oil, Gas, and Other Minerals Addendum for Property in a Propane Gas System Service Area Not promulgated, but required by federal law- Lead based Paint Addendum © 2015 OnCourse Learning
Alabama Real Estate License Law & The REALTORS Code of Ethics
Nigel Hales 24 July 2014 Miller Harris in Business.
Thomson/South-Western©2008 Chapter 20 The Principal-Broker Relationship: Agency _______________________________________.
© OnCourse Learning Chapter 21 : The Principal-Broker Relationship: Agency.
Commercial Webinar Series 1 hour presentation TAR Commercial Purchase Contracts presented by Rick Albers Questions will be answered.
© OnCourse Learning. All Rights Reserved. Agency Contracts (Sales) and Related Practices Learning Objectives Define types and characteristics of a listing.
Texas Real Estate Contracts 4 th Edition © 2015 OnCourse Learning.
©OnCourse Learning. All Rights Reserved.. Licensing Laws and Professional Affiliation ©OnCourse Learning. All Rights Reserved. Chapter 9.
©OnCourse Learning. All Rights Reserved.. Specialization ©OnCourse Learning. All Rights Reserved. Chapter 25.
Commercial Webinar Series 1 hour presentation Commercial Forms Recent Changes & New Forms presented by Rick Albers Questions will be answered at the end.
Chapter 22 Liability, Agency Problems, Fraud, And Ethics in Real Estate Finance © OnCourse Learning.
Florida Real Estate Principles, Practices & Law 38th Edition
© 2015 OnCourse Learning Texas Real Estate Brokerage and Law of Agency, 6 th Edition.
June TRECCCIM May not discriminate on basis of protected class May not steer May not inquire about, respond to or facilitate inquiries which.
Maryland Agency Disclosure Charles A. Kasky, Esq., RCE Vice President of Legal Affairs Maryland Association of REALTORS ®
© 2012 Cengage Learning. The Principal–Broker Relationship: Agency Chapter 20.
South-Western Publishing©2002 By Charles J. Jacobus Real Estate Principles Ninth Edition Real Estate: An Introduction to the Profession Ninth Edition South-Western.
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