TREC: Continuing ed instructors now must pass exam
Q : I’ve been teaching continuing education for real estate licensees for 20 years. TREC now says I must take and pass an exam before I teach next year. Why do I have to comply with this? A : TREC wants to confirm a minimum level of competence in its approved continuing education instructors, so don’t gripe about it — get to studying. Q : Why does the TREC contract specify a general warranty deed? I always heard a special warranty deed created less liability for sellers. A : Not necessarily. Title insurance makes a big difference. If you have coverage, a general warranty offers you protection a long time in the future. A special warranty does not. It only covers you for your time of ownership. Q : I’m trying to sell my house, and the title company says I don’t have good title because of a break in the title chain back in 1910. Can this be right? A : It may be right, but from a title insurance standpoint it’s a little stupid. If there is a claim from 1910, adverse possession covers any possibility of a serious title loss. We suggest that you change title companies. Q : I had a lawyer tell me I needed a “Ladybird” deed to protect my interest in my house. Is this a good idea? A : No. A “Lady Bird deed” is a nickname given to an Enhanced Life Estate deed, which is used to convey property to your heirs outside of probate. In Texas you do not need a Lady Bird deed because the Texas Legislature created a Transfer on Death deed with a new law. This law allows property to transfer at death to someone else, so no probate is needed. A Transfer on Death deed conveys property outside of probate. Avoiding probate allows for you to avoid court costs and administrative costs to deed the property to your beneficiary.
To send a question visit and select the “Ask A Question” button. Our answers to questions do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney. George Stephens is the broker of Stephens Properties. Charles J. Jacobus, J.D. is Board Certified by the Texas Board of Legal Specialization in residential and commercial real estate law.