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Texas · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 TexasLicense holders generally must use TREC-promulgated contract forms for standard residential transactions rather than drafting their own. Texas residential contracts commonly include a termination-option provision under which the buyer pays an option fee for an unrestricted right to terminate during a negotiated option period. Earnest money is placed with the escrow agent and held in a trust or escrow account. Because Texas is a community property state, marital property interests can affect how title and signatures on a transaction are handled.
Yes. State License Law is a scored domain on the Texas real estate licensing exam, and this topic appears in the state license-law portion.
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Texas applies its own license law on top of the national portion. This page covers the Texas rules specifically, which is what the state section of your exam tests.