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TEXAS PRINCIPLES 1 EXAM – CHAMPIONS SCHOOL OF REAL ESTATE | QUESTIONS & ANSWERS| ALREADY PASSED| VERIFIED & UPDATED | 2024

 The law requiring real estate contracts to be in writing is called the…? statue of frauds • Statute of Frauds: law that requires some documents (deeds included) to be in writing and signed in order to be enforceable by law • Illegal practice of directing home seekers to a particular neighborhood based on fair housing protected classes? Steering • Taking buyers to or away from a particular area based on any of the protected categories under Fair Housing Laws is called…? steering or channeling • When a buyer purchases a property and takes over the payments and liability on an existing loan it is called a(n)…? straight assumption • A property description that is considered an informal reference is. tax: tax rate x assessed value = a street address