A Texas sales agent is helping a client purchase a property at a tax lien foreclosure sale. The taxing authority provides its own purchase agreement. Should the sales agent use the TREC promulgated form instead?
Correct Answer
A) No, tax foreclosure sales conducted by governmental entities are exempt from the promulgated form requirement
Tax foreclosure sales conducted by governmental entities fall under the government entity exception to the mandatory use of promulgated forms. When a taxing authority provides its own purchase agreement, the license holder may use that form.
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