Legal Update I 2020-2021 | Texas Approval #37796

$39.00

4 Legal Updates I Credit Hours | Online HD Video Class | Instructor: Gwyn Besner
This class provides an understanding and working knowledge of a real estate agent's responsibilities and obligations related to rule changes, property management, tenancy, contracts and the law. Learn specific requirements and best practices.
This course MUST BE COMPLETED by December 31, 2021 in order to satisfy the education requirement.

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Description

Legal Update I
2020-2021


COURSE SYLLABUS

Course Description

The purpose of this course is to address the regulatory aspects of some of the many legal updates that have occurred in the Texas real estate industry. This course provides an understanding and working knowledge of a license holder's responsibilities and obligations related to rule changes, leasing and property management, sales transactions, contracts and addenda forms, and current hot topics. This course sets out specific requirements and best practices.

After completing this course participants will be able to:

  • Recognize the role of TREC, and describe how the rules and regulations must be implemented in the practice of real estate in Texas.
  • Summarize the unauthorized practice of law
  • Discuss the legislative changes and disclosure regulations surrounding buyers, landlords, tenants, and sellers.
  • Understand the changes to the promulgated contract and addendum forms.
  • Describe the issues surrounding security issues such as in-home surveillance and wire fraud

Chapter 1: Statutory Changes to Texas REal Estate License Act (Chapter 1101, Texas Occupations Code) and TREC Rule Updates

  • Key TREC Rule Updates
  • How Can a License Holder Get Involved in the Rule Making Process?
  • Licensing Related Bills Passed by the 2019 Texas Legislative Session

Chapter 2: Seller's Disclosure

  • Statutory Changes
  • Selecting the Seller's Disclosure Notice
  • Inspection Reports: Sellers and Future Buyers
  • When is a Seller's Disclosure Notice NOT Required?

Chapter 3: Water Issues

  • What is my level of flood risk?
  • Municipal Utility Districts
  • Municipal Utility Districts (MUDs) and the Law
  • Hydrostatic Testing

Chapter 4: Contract Issues

  • Changes to Promulgated Forms
  • Previously Approved Changes
  • Notice of Buyer's Termination of Contract
  • Notice of Seller's Termination of Contract
  • Third Party Financing Addendum
  • One to Four Family Residential Contract (Resale)
  • Smart Homes
  • Paragraph 6, Objections
  • Cure Period Example
  • Effective Date
  • Option Money
  • Additional Option Period

Chapter 5: Unauthorized Practice of Law

  • §537.11 – Use of Standard Contract Forms
  • What License Holders Can Do
  • What License Holders Cannot Do
  • Unauthorized Practice of Law Pop Quiz
  • Unauthorized Practice of Law examples from recent TREC Cases

Chapter 6: Property Management

  • Use of Criminal History
  • Protecting Tennants at Foreclosure Act Reinstated
  • Consumer Reports

Chapter 7: Security Issues

  • In-Home Surveillance
  • Cyber Fraud
  • Wiring Funds or Cashier's Checks
  • Avoiding Cyber Fraud
  • Definitions
  • HOW do you protect yourself?

Appendix A: Updated TREC Seller's Disclosure Notice (OP-H) effective 9/1/2019
Appendix B: Residential Condominium Contract (Resale) and Farm and Ranch Contract

Appendix C: Sec. 49.452, Notice to Purchasers (Texas Water Code)
Appendix D: Addendum for Authorizing Hydrodstatic Testing (48-0)
Appendix E: Promulgated Contract Forms and Addenda

  • One to Four Family Residential Contract (Resale)
  • Notice of Seller's Termination of Contract
  • Notice of Buyer's Termination of Contract
  • Third Party Financing Addendum

Appendix F: Six New Property Management and Leasing Laws
Appendix G: Article "Is Your Sellers' Surveillance Putting Them At Risk?"
Appendix H: Helpful Links


Course instructors will be available by email or telephone between 8am and 6pm Eastern Standard Time. They will assist you with questions regarding course content.

If you have any questions, please call us at 1-800-727-7104 or send an email to info@onlinecti.com. Email responses will usually be returned promptly, but guaranteed within one business day.

Student policies and procedures are always available by going to our website and scrolling to the bottom of the page (See Attendance, Privacy and Refund Policy).

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