Texas Real Estate Exam 1 (Latest 2023 - 2024)
New Full Exam Questions and Answers Included
- Police Power
Answer: Government right to regulate and control the character
and use of property for the health, safety and general welfare of the public
- Zoning
Answer: Local laws to control land use
- Master plan
Answer: Comprehensive guideline for the long term physical
development of a particular area mixed land is designed to meet the needs of the future residents
- Non-conforming use
Answer: A permissible use under former rules that is now
prohibited - automatically granted when zoning regulations change
- Variance
Answer: Permission to violate current regulations - obtained by a
hearing
- Buffer zone
Answer: An area of land separating one land use from another
incompatible use such as residential from commercial
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- Building codes
Answer: Regulations regarding specific construction requirements-
plumbing, electrical, etc.
8. EIS
Answer: Environmental impact statement- a study done to
determine the effect of a proposed project on a community
- Eminent domain
Answer: The right of government to take private property for
public use
- Condemnation
Answer: The action of the government I taking private property
under the right of eminent domain
- Inverse condemnation
Answer: The action of an individual trying to force the government
to buy his property
- Taxation
Answer: The right of government to tax real property
- Ad valorem
Answer: According to value- real property taxes are ad valorem
taxes
- Assessed value
Answer: Property value for tax purposes- (tax rate*assessed value= 2 / 4
tax)
- Mill
Answer: A tax rate per $1000.00 (assessed value/1000*mills=tax)
- Assessment Rolls
Answer: Books showing the assessed value of all properties in the
tax district
- Special Assessment
Answer: A tax levied against only those property owners who
benefit from a government improvement such as curbs or sidewalks
- Municipal improvement district
Answer: An area within a municipality that is taxed for a specific
improvement- unlike a special assessment, property owners were permitted to vote for the improvement district to be created
- Escheat
Answer: The right of the government to take real property if an
owner dies without a will and with no heirs or no kindred
- Riparian rights
Answer: The right to use water from a river or stream that borders
a property
- Littoral rights
Answer: The right to use water from a lake or ocean that borders a
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- Prior Appropriation
Answer: A theory of water law stating the first landowner to claim
riparian rights has the exclusive right to take all the water for specific beneficial uses
- Appropriative rights
Answer: Water rights under prior appropriation
- C, C & R's
Answer: Deed covenants, conditions and restrictions are private
controls of land use, development, methods and materials for construction, including style and appearance requirements in some cases
- Declaration of Restrictions
Answer: The recorded document outlining the c,c &r's for a
particular area of land
- HOR Regulations
Answer: Deed restrictions for condominium complexes
- Injunction
Answer: A court order to cease, stop, or refrain from acting- can be
used to enforce c,c &r's
- Real Property
Answer: Land, improvements attached to the land, and the rights to
use them
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