In Texas, who has the authority to promulgate the standard contract forms that license holders are required to use in real estate transactions?
Correct Answer
C) The Texas Real Estate Commission (TREC)
Under the Texas Real Estate License Act (TRELA), the Texas Real Estate Commission (TREC) has the exclusive authority to promulgate standard contract forms for use by license holders. This authority is established in Texas Occupations Code §1101.155.
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More Promulgated Contract Forms Questions
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A seller in Houston insists that the sales agent use a contract form downloaded from a legal website instead of the TREC promulgated form. The seller says the downloaded form is more comprehensive. What should the sales agent do?
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License holder Patel is preparing a contract for the sale of a residential condominium in Dallas. Which TREC promulgated form should Patel use?