Chapter 7 - Texas Real Estate License Act

Question 1

Texas Real Estate License Act (TRELA)

Answer 1

Chapter 11.01 Texas Occupation Code Title 7

primary purpose is to protect the public from incompetent or dishonest salespersons and brokers

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Question 2

Texas Real Estate Commission

Answer 2

administers TRELA. 9 members; 3 members of public and 6 real estate broker memebers - appointed by state governer

Question 3

Sunset Act (Texas)

Answer 3

provides for periodic reviews of all acts and boards

Question 4

Exemptions from having to hold a license

Answer 4

Owners w/ own property, trustees, executor of wills, receivers in bankruptcy, anyone operating under court order, attorneys