Texas Real Estate

An account set up for the purpose of holding funds - also called trust account, impound account and reserve account

The illegal act of mixing broker funds (business or personal) with client funds

The illegal act of spending commingled funds for broker expenses

A law prohibiting discrimination based on color - no exceptions or exemptions

Part of the Federal Fair Housing Act - prohibits discrimination based on race, color, religion or national origin, sex, familial status or handicap

A minor living with a parent or guardian - also called family composition

Mental or physical impairment - includes recovering drug users, recovering alcoholics and HIV/aids victims

Causing panic selling by homeowners - also called panic peddling

Taking buyers to or away from any neighborhood based on any of the protected categories under Fair Housing - race, color, religion, national origin, sex, familial status or handicap - also called channeling

Evidence so strong that the party is guilty - no further investigation is necessary

A federal law passed to promote accessibility for those with special needs - it prohibits discrimination against those with disablities

A licensee sponsored by a broker who is not considered an employee - there must be a written agreement, the independent contractor must be licensed and payment is on the basis of performance, not number of hours worked

The overall real estate business - bringing parties together and completing transactions