Scribd Logo
Upload

Welcome to Scribd!

  • 773 views

    Texas Real Estate Exam Study Plans

    Uploaded by

    Binh Quach
    This document outlines a study plan for the Texas real estate exam. Day 1 focuses on property ownership rights, government power over property, and different types of property interests. It discusses ownership rights like the right to dispose of, occupy, develop, and finance property. It also covers eminent domain, police power, and property taxation. Different interests in property are explained such as a mortgage lender's interest or various estates like fee simple absolute. Restrictive covenants and their validity are also summarized.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Texas Real Estate Exam Study Plans

    Uploaded by

    Binh Quach
    773 views3 pages
    This document outlines a study plan for the Texas real estate exam. Day 1 focuses on property ownership rights, government power over property, and different types of property interests. It discusses ownership rights like the right to dispose of, occupy, develop, and finance property. It also covers eminent domain, police power, and property taxation. Different interests in property are explained such as a mortgage lender's interest or various estates like fee simple absolute. Restrictive covenants and their validity are also summarized.

    Original Description:

    Real Test

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document outlines a study plan for the Texas real estate exam. Day 1 focuses on property ownership rights, government power over property, and different types of property interests. It discusses ownership rights like the right to dispose of, occupy, develop, and finance property. It also covers eminent domain, police power, and property taxation. Different interests in property are explained such as a mortgage lender's interest or various estates like fee simple absolute. Restrictive covenants and their validity are also summarized.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    773 views3 pages

    Texas Real Estate Exam Study Plans

    Uploaded by

    Binh Quach
    This document outlines a study plan for the Texas real estate exam. Day 1 focuses on property ownership rights, government power over property, and different types of property interests. It discusses ownership rights like the right to dispose of, occupy, develop, and finance property. It also covers eminent domain, police power, and property taxation. Different interests in property are explained such as a mortgage lender's interest or various estates like fee simple absolute. Restrictive covenants and their validity are also summarized.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 3

    Texas Real Estate Exam Study Plans

    Day 1 1/17/2017

    Texas Principles I #121 and Principles II #122

    Property ownership right

    Dispose- give away, sell, exclude

    Occupy - occupy and use land subject to local governemtn regulation

    Right to sell. Can sell or grant title to other

    Develop - Right to build, develop,and expan real property

    Finance propery. Right to mortagage, finance, DOT, devise

    Use of land - grant easement, covenant, abandon , pass to heirs

    Government Power

    Eminent Domain- Take property for public use purpose and compensate owner

    Police Power - to regulate zoning, code and tenant/landlord right

    Property Taxation - City, county, school..)

    Interest - right to invole the land

    Lender Interest in Property - Mortage lender has interest or lien right or Encumbrance

    on the property

    Ownership/title property - house sold include title and estate. Owner right of ownership

    as to use and possesion

    Review Estate= Possesion. Right to possesion but not title. Lease can be demise.

    Fee Estate - Right to pass title and possesion

    Fee Absolute Estate - No restriction. Can use and pass on to heirs

    Less than Fee Simple Absolut Estate - Air space or mineral was sold, and cannot

    pass on to heirs

    Fee Condition Estate - Restriction on usage and pass on with land

    Freehold Estate (Life Estate)- allow use and possesion and pass on to heirs

    FreeHold Estate - Non-inheritable - Inchoate

    Life Estate - possesion for live but not pass to heir


    Legal life estate = Dower/Curtsey. Estover- Neither can sell propery, but can use for living

    Conventional life estate- estate create by will or trust by original owner

    Revesionary - Revert back to original onwer when heir die

    Remainderman - 3rd party will become onwer when heir dies

    Non-Freehold Estate

    1. For Years Estate - definite ending time

    2. Periodic Rental - has start and end date

    3. At Suffferance Estate - tenant will not leave

    4. Chattel Real - demise if tenant die

    Restrive Covenants - Use of Estate

    1. Fee Simple Absolute can have a restrictive covenant. Owner cannot lose property through Reverter
    Clause

    2. Must specify restrictive convenant through deed of sale

    Restrictive Covenant Limitation

    1. Can't violate stautes- cannot violate other laws

    2. Enforcement of Covenant - Court action and Legal purpose

    InValid Convenant

    1. Rescinded - original onwer cancel covenent

    2. Indifference - Years of indifference in the past

    3. Othe violation - Others members violate convenant

    4. termination date - RC has specific termination date

    Reverter Clause

    Condition Precedent - condition of owernership in their will

    Conditional Subsequent - grants property transfer to heir with conditinal requirement

    Estates

    A freehold estate for life


    Dower - father die. Mother live on

    Curtsey- Mother die. Father live on

    Tenancy - possesion of property

    Ownership of Real Property

    Encumbrance and Interest in Real Property

    Texas Law of Agency 1151

    Agency Law

    Creating Agency

    TREC Promulgated Contract Forms #351

    Contract Law 1

    Contract Law 2

    Texas Real Estate Finance #0451

    The nature and cycle of real estate financing

    Money and the monetary system

    You might also like