A consumer files a DTPA claim against a real estate developer in Texas. Under Texas Business & Commerce Code §17.49, which of the following transactions is NOT exempt from the DTPA?
Correct Answer
A) A claim arising from a residential real estate purchase for $250,000 by an individual buyer
A residential real estate purchase for $250,000 by an individual buyer is fully subject to the DTPA. The $500,000 exemption under §17.49(g) does not apply because the transaction amount is below the threshold. This is a standard consumer transaction covered by the DTPA.
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Related Topics & Key Terms
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Related Concepts
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
More Tx Fair Housing Dtpa Questions
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Previous Question
A homebuyer in Lubbock purchases a property after the seller represents that the HVAC system was replaced within the past year. After closing, the buyer discovers the HVAC system is actually 12 years old. Before filing a DTPA lawsuit, what must the buyer do first?
Next Question
A license holder in Arlington falsely tells a buyer that a property is located in a flood zone eligible for reduced-rate flood insurance, when in fact the property is in a high-risk flood zone requiring expensive coverage. The buyer purchases the property and incurs $5,000 more annually in flood insurance. Under the DTPA, which laundry list item BEST applies?