Texas Promulgated Forms, Second Edition Update
Chapter 3: Parties, Property, and the Money
Outline
Learning Objectives
When you have completed this chapter, you will be able to
•
List the information required to complete contract forms;
•
Fill out paragraphs 1 through 3of the One to Four Family Residential Contract and be
able to identify the provisions within them;
•
Identify which items should be in included in the Non-Realty Items Addendum; and
•
Fill out the financing addenda:
o
Third Party Financing Addendum
o
Loan Assumption Addendum
o
Seller Financing Addendum
o
Addendum for Release of Liability on Assumed Loan and/or Restoration of
Seller’s VA Entitlement.
Lecture Outline
I.
Information Needed to Complete Contract Forms
A.
Worksheet starting on page 29 of the text
B.
Discuss the cost of financing in paragraph 12
II.
The Heading
A.
Form’s title
B.
Intended use
C.
Possible notice of non-intended use
D.
Date TREC approved and promulgated the form
III.
One to Four Family Residential Contract, Paragraph 1, Parties
Page 2 of Supplement
A.
In addition to names, the licensee will need to furnish marital status
B.
Legal entities will need to be identified
C.
Examples of name styling
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- Fall '18
- Debt, Mortgage loan, ©2016 Kaplan
