- ISBN: 9780324185416 | 0324185413
- Cover: Paperback
- Copyright: 3/22/2002
As a Texas Real Estate professional, you know how critical it is to stay informed on the most current practices and regulations in Texas Real Estate today. Count on Chuck Jacobus and Jack Wiedemer, two highly respected Texas Real Estate authors, to deliver the most up-to-date MCE material you need for continued professional development. Book jacket.
| Licensing Laws, Rules, and Regulations | |
| Introduction | p. 3 |
| Changes to Trela | p. 3 |
| Changes in Education | p. 3 |
| Suits for Commissions | p. 5 |
| Referral Fees | p. 5 |
| Hidden Issues | p. 5 |
| Termination of Employment Contracts | p. 5 |
| TREC Rule 535.154(i) Internet Advertising | p. 6 |
| Fair Housing | p. 6 |
| Advertising Rules | p. 6 |
| Agency Disclosure | p. 6 |
| If the Licensee Does Not Represent a Party | p. 7 |
| If the Licensee Represents a Party | p. 8 |
| Intermediary Status | p. 8 |
| Intermediary = Sponsoring Broker | p. 9 |
| The Appointment Process | p. 9 |
| The Notification Form | p. 11 |
| Difficult Questions | p. 12 |
| Residential Rental Locators | p. 13 |
| Residential Rental Locator Guidelines | p. 13 |
| Pertinent Cases Interpreting Provisions of the License Act | p. 13 |
| Good News on Commissions (for a Change)! | p. 16 |
| No Termination Date = No Listing? | p. 18 |
| Texas Contracts | p. 19 |
| TREC Forms | p. 19 |
| Computerized Forms | p. 21 |
| Practicing Law | p. 22 |
| Pertinent Provisions | p. 23 |
| Contingencies | p. 23 |
| Additional Contingencies | p. 24 |
| Specific Paragraphs | p. 24 |
| Effective Date | p. 36 |
| Inspector Regulations | p. 36 |
| Law Update | p. 40 |
| Homestead Overview | p. 43 |
| New Issues | p. 43 |
| Home Equity Liens | p. 43 |
| Home Improvement Loans | p. 46 |
| Reverse Mortgage Loans | p. 48 |
| Mobile Homes | p. 50 |
| Bigger Urban Homestead | p. 50 |
| Judgment Liens | p. 51 |
| Designation of Homestead with Appraisal District | p. 53 |
| New Homestead Cases | p. 53 |
| Ad Valorem Taxation | p. 56 |
| Lessee Protest | p. 56 |
| Homestead Tax Exemptions for Surviving Spouses | p. 56 |
| New Cases | p. 56 |
| Federal Income Tax | p. 58 |
| Gain On Sale of Principal Residence | p. 58 |
| Capital Gains | p. 59 |
| Home Is a Principal Place of Business, Again | p. 59 |
| Reverse Like-Kind Exchanges | p. 60 |
| Landlord and Tenant | p. 60 |
| Landlord's Duty to Mitigate Damages | p. 60 |
| Water Code Changes | p. 60 |
| Commercial Tenancy Rules | p. 61 |
| Pertinent Cases | p. 62 |
| Evictions | p. 62 |
| Suitability | p. 63 |
| Residential Use | p. 63 |
| Criminal Conduct | p. 63 |
| Duty to Mitigate | p. 65 |
| Annexation Legislation | p. 66 |
| Annexation Legislation Overview | p. 66 |
| Contract Issues | p. 67 |
| New Disclosures | p. 67 |
| Municipal Utility Districts | p. 67 |
| Seller's Disclosure Regarding Potential Annexation | p. 68 |
| Seller's Notice of Obligations Related to Membership and Property Owners' Association | p. 68 |
| Property Owners' Association Disclosures | p. 68 |
| Installment Land Contracts | p. 68 |
| Recent Cases On Contracts | p. 69 |
| Oral Earnest Money Contracts | p. 69 |
| Contracts for Deed | p. 70 |
| Legal Descriptions | p. 71 |
| Verbal Contract Extensions | p. 72 |
| Recording Issues | p. 73 |
| Statute of Frauds: Electronic Transactions | p. 73 |
| Fair Housing | p. 76 |
| Family Status and National Origin | p. 77 |
| Occupancy Restrictions | p. 78 |
| Marital Status | p. 79 |
| Family Discrimination: Pregnancy | p. 80 |
| Fair Housing: Discrimination | p. 80 |
| New Rules for Buyer's Brokers? | p. 82 |
| The Fair Housing Partnership Resolution | p. 83 |
| New RESPA Issues | p. 84 |
| Payment Shock | p. 84 |
| HUD Speaks Out on YSP's | p. 85 |
| Residential Lead-Based Paint Hazard Reduction Act 1992 | p. 85 |
| What Is Required? | p. 85 |
| Deed Restrictions | p. 86 |
| Nonprofit Corporation | p. 86 |
| HOA Foreclosures | p. 87 |
| New Cases | p. 88 |
| Defenses to Enforcement | p. 90 |
| Municipal Enforcement | p. 91 |
| Sex Offender Registration | p. 92 |
| Texas Sex Offender Registration | p. 92 |
| Premises Liability | p. 93 |
| New Community Property Rules | p. 95 |
| Equitable Interests of Community Property | p. 95 |
| Converting Separate Property to Community Property | p. 95 |
| Homebuilders' Warranty Issues | p. 96 |
| Additional New Legislation | p. 96 |
| Notary Public Legislation | p. 96 |
| Title Insurance Legislation | p. 97 |
| Utility Service Providers | p. 98 |
| Issuance of Land Patents | p. 99 |
| Cemeteries | p. 99 |
| Texas Deceptive Trade Practices Act & Agency | p. 100 |
| Deceptive Trade Practices Act | p. 103 |
| Definitions | p. 104 |
| Other Important Provisions | p. 104 |
| Section 17.42 Waivers | p. 104 |
| Section 17.44 | p. 105 |
| Section 17.49 New Prohibited Claims | p. 105 |
| "The Laundry List" | p. 105 |
| Warranties of Good and Workmanlike Manner | p. 107 |
| Unconscionable Action or Course of Action | p. 108 |
| Brokerage Cases Interpreting the DTPA | p. 108 |
| Pertinent Cases | p. 109 |
| Defenses Under the DTPA | p. 116 |
| Statutory Defenses | p. 116 |
| Section 17.505 | p. 116 |
| Section 17.5051 Compulsory Mediation | p. 117 |
| Section 17.555 | p. 117 |
| Case Law Defenses | p. 118 |
| Licensed Real Estate Property Inspectors | p. 121 |
| Seller Disclosure Forms | p. 122 |
| Seller's Disclosures in the Courts | p. 123 |
| Damages Under the DTPA | p. 125 |
| Negligent Misrepresentation | p. 126 |
| Real Estate Recovery Fund | p. 126 |
| Agency | p. 127 |
| Agency Introduction | p. 127 |
| Creation of the Agency Relationship | p. 128 |
| Actual Authority | p. 128 |
| Ostensible Authority | p. 128 |
| Ratification | p. 129 |
| Purchaser Representation--The Shift of Fiduciary Duty | p. 129 |
| Procedures | p. 131 |
| Buyer Brokerage Issues | p. 133 |
| New Texas Case | p. 134 |
| The Difficult Situations | p. 136 |
| Agency Disclosure Rules | p. 137 |
| The Dual Agency Statute | p. 139 |
| MLS Rules | p. 140 |
| The Latest Roles for Licensees | p. 141 |
| Intermediaries | p. 141 |
| Can You Give Advice or Opinion? | p. 144 |
| Finance Update, Federal and State | p. 146 |
| Introduction | p. 149 |
| The Mortgage Market Today | p. 150 |
| Custom Pricing of Mortgage Loans | p. 150 |
| Primary Mortgage Market | p. 151 |
| Residential Loans | p. 151 |
| Commercial Loans | p. 151 |
| Regulated Lenders | p. 152 |
| Community Reinvestment Act (CRA) | p. 153 |
| Community Development Corporations | p. 153 |
| Mortgage Companies | p. 154 |
| Texas Licensing of Mortgage Brokers | p. 154 |
| Administration of the Law | p. 155 |
| Additional Requirements | p. 155 |
| Computerized Loan Origination (CLO) | p. 156 |
| Automated Underwriting | p. 156 |
| Automated Underwriting on the Internet | p. 156 |
| Mortgage Loan Web Sites | p. 158 |
| Home Appraisals by Computer | p. 158 |
| Secondary Mortgage Market | p. 158 |
| Mortgage Partnership Finance Program (MPF) | p. 159 |
| Federal National Mortgage Association (Fannie Mae) | p. 159 |
| Federal Home Loan Mortgage Company (Freddie Mac) | p. 161 |
| HUD'S Final Rule on Government Service Enterprise's (GSE'S) Affordable Housing | p. 162 |
| Government National Mortgage Association (Ginnie Mae) | p. 162 |
| Federal Agricultural Mortgage Corporation (Farmer Mac) | p. 163 |
| Fannie Mae/Freddie Mac Loan Limits | p. 163 |
| Continued Payment of Private Mortgage Insurance | p. 164 |
| Credit Scoring | p. 165 |
| FHA Issues a Scoring Procedure | p. 165 |
| FICO Credit Score | p. 166 |
| Subprime Loans | p. 166 |
| Subprime Delinquencies Are Increasing | p. 167 |
| Typical Credit Criteria | p. 167 |
| Predatory Lending | p. 168 |
| Shoddy Appraisals Help Predatory Lenders | p. 169 |
| State Predatory Lending Bills | p. 169 |
| Mortgage Fraud | p. 169 |
| Investment in Real Estate | p. 170 |
| Investing Via the Internet | p. 170 |
| Interest Rates for Commercial Loans | p. 170 |
| Recent Changes in HUD/FHA Requirements | p. 171 |
| FHA Premium Reduced | p. 171 |
| HUD Increases Multifamily Loan Limits | p. 171 |
| HUD/FHA Loan Limits for Texas | p. 172 |
| Loan Limits Based on Geographic Location | p. 172 |
| Loan Limits Based on Value of the Collateral Property | p. 172 |
| HUD's Section 811 Program | p. 173 |
| Teacher Next Door Program | p. 173 |
| New FHA Disclosure | p. 174 |
| New VA Guaranty Limit | p. 174 |
| VA Benefits Increased | p. 174 |
| Affordable Housing Programs | p. 175 |
| Program Guidelines | p. 175 |
| CRA Credit Criteria | p. 175 |
| Home Buyer Education Requirements | p. 176 |
| Texas Veteran's Land Board | p. 176 |
| Texas Department of Housing and Community Affairs | p. 177 |
| First Time Homebuyer Program | p. 177 |
| Down Payment Assistance Program | p. 178 |
| Manufactured Housing | p. 178 |
| Manufactured Home Building Code | p. 179 |
| Mortgage Electronic Registration System | p. 180 |
| Real Estate Center | p. 180 |
| Real Estate Center Advisory Committee | p. 181 |
| Publications | p. 181 |
| Environmental Issues | p. 182 |
| Introduction | p. 185 |
| Polychlorinated Biphenyls (PCB) | p. 186 |
| The Lead Factor | p. 186 |
| The Environment and the Economy | p. 186 |
| Environmental Assessments for Home Loans | p. 187 |
| Environmental Assessments for Commercial Loans | p. 187 |
| Environmental Requirements of the Secondary Market | p. 187 |
| An Agent's Disclosure of Environmental Factors | p. 188 |
| Principal Environmental Problems | p. 189 |
| Lead Poisoning | p. 189 |
| 1996 Lead-Based Paint Rule | p. 190 |
| Sources of Lead Poisoning | p. 191 |
| Testing for Lead | p. 191 |
| EPA and State Offices for Lead | p. 191 |
| Indoor Air Pollution | p. 192 |
| Formaldehyde Gas | p. 192 |
| EPA and State Agencies for Formaldehyde | p. 193 |
| Radon Gas | p. 193 |
| EPA and State Radon Agencies | p. 194 |
| Asbestos | p. 195 |
| Economic Consequences | p. 196 |
| Rules Governing Asbestos Removal | p. 196 |
| Texas Department of Health Asbestos Regulations | p. 197 |
| EPA and State Asbestos Agencies | p. 197 |
| Mercury | p. 197 |
| Toxic Waste Sites | p. 198 |
| Extent of Liability | p. 198 |
| Hazardous Materials Covered by CERCLA | p. 199 |
| Innocent Landowner Defense | p. 199 |
| Recovery of Brownfield Areas | p. 200 |
| Tax Relief for Brownfield Cleanup | p. 201 |
| Private Insurance for Superfund Liabilities | p. 201 |
| Banker's Environmental Risk Insurance | p. 201 |
| EPA and Texas Solid and Hazardous Waste Agencies | p. 202 |
| Polychlorinated Biphenyl (PCB) | p. 202 |
| Clean Water Act | p. 202 |
| Wetlands Protection | p. 203 |
| Rule Favoring Small Landowners | p. 204 |
| Wetlands Definition | p. 205 |
| Wetlands Mitigation Banking | p. 205 |
| Enforcement | p. 206 |
| Other Regulatory Agencies Involved with Wetlands | p. 206 |
| EPA, Texas, and Corps Offices for Wetlands | p. 207 |
| Endangered Species Protection | p. 207 |
| Kinds of Endangered Species | p. 207 |
| Taking Is Prohibited | p. 208 |
| Penalties and Enforcement | p. 208 |
| Challenges by "Activists" | p. 208 |
| Underground Storage Tanks (UST) | p. 209 |
| Electromagnetic Forces | p. 210 |
| Facts About Electromagnetic Forces | p. 211 |
| Regulations | p. 211 |
| Real Estate Agents and EMF | p. 211 |
| Texas Private Real Property Rights | p. 212 |
| Documents and Forms | p. 1 |
| TREC 20-5, One to Four Family Residential Contract (Resale) | p. 2 |
| TREC 10-4, Addendum for Sale of Other Property by Buyer | p. 10 |
| TREC 11-4, Addendum for "Back-Up" Contract | p. 11 |
| TREC 39-3, Amendment to Contract Concerning Property | p. 12 |
| TREC 38-1, Notice of Termination of Contract | p. 13 |
| Broker-Lawyer Committee Discussion Draft | p. 14 |
| Intermediary Relationship Notice | p. 15 |
| Answers to Pre-Assessment Evaluation | p. 1 |
| Index | p. 1 |
| Table of Contents provided by Syndetics. All Rights Reserved. |
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