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The Texas Real Estate Commission(TREC) is the state agency that governs real estate practices in the state of Texas. The agency is headquartered at 1700 North Congress in Austin. [ 1 ] TREC is composed of nine members appointed by the Governor with the concurrence of the Texas Senate. The members are appointed for six-year terms, with the terms ...
Tenant screening. "'Tenant screening'" is used primarily by residential landlords and property managers to evaluate prospective tenants. The purpose is to assess the likelihood the tenant will fulfill the terms of the lease or rental agreement and will also take great care of the rental property in question. The process culminates in a decision ...
Rental agreement. A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1] As a minimum, the agreement identifies the parties, the property, the term of the ...
A real estate mortgage investment conduit ( REMIC) is "an entity that holds a fixed pool of mortgages and issues multiple classes of interests in itself to investors" under U.S. Federal income tax law and is "treated like a partnership for Federal income tax purposes with its income passed through to its interest holders". [ 1][ 2] REMICs are ...
The residential real estate industry in Texas is unique in that the real estate sales contract forms used in most transactions in the state are developed through a state agency, the Texas Real Estate Commission (TREC). TREC's Broker-Lawyer Committee develops standard contract forms and addenda which are promulgated by the Commission.
Cancel for Any Reason options can also allow travelers to cancel up to two days ahead of a trip if they aren’t comfortable going. “This is a time-sensitive benefit on some plans, meaning that ...