Texas Real Estate Law - SAE Champions School Of Real Estate Questions With Complete Solutions CERCLA Liability Rules - Correct Answers ✅Hazardous Substance Liability
- 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. 1 / 2
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
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