Texas Real Estate State Exam / Questions & Expertly Verified Answers, 2025 / 2026.Stretch your brain before your first study session Learn / Study with Learn durability - it will always be there Choose matching term 1Metes and Bounds2Section 3immobility4indestructibility Don't know?
- Basic approaches to
- types of depreciation in
Appraisals market data or sales comparison,income or capitalization method, and replacement cost or summation approach
cost approach Physical deterioration,Functional obsolescence, Economic obsolescence 1 / 2
Terms in this set (163)
- Characteristics of Value
(DUST)
Demand, Utility,Scarcity,Transferability
- leasehold estates Estate for years, periodic Tenancy, Estate at will, tenancy at
- / 2
sufferance Abstract of title complete history of all recorded events affecting the title Acceleration Clause in the state of default whole amt of principal is due AccesionAcquiring trade fixtures by non removal prior to termination of lease Acre43,560 square feet Adverse Possession (Squatters rights) occurs when property is acquired from the rightful owner through the State of Limitations Agents duties (OLD CAR) Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable Care *Trust is not a duty Alienation Clause Due on sale clause states balance is due if sold w/o mortgagee's approval AnnexationProcess of attaching personal property to real property making it a fixture Appraisersmust follow USPAP (Uniform standards of Professional Appraisal Practice) some lenders require Fannie Mae appraisal Appraisers Principles to Value (9) Highest and Best use, Principle of Substitution, Principle of Conformity, Principle of Increasing and Decreasing Returns, Principle of Contribution, The Principle of Regression, The principle of Competition, The Principle of Change, The Principle of Anticipation Assemblage or plottage combining several parcels of land into one Assessed Valuevalue of property for tax purposes