Legal Update II (2022-2023)
Required CE – 4 Hours – TREC Approval Number #42040
TREC Legal Update II is the second of two required Legal Update courses for all real estate licensees. Brand new for 2022, this course will bring you up to date with the latest Canons of Professional Ethics, Water and Mineral Rights, and Ad Valorem Taxes. This second session of Legal Update will help reinforce the right way to practice your business and help keep you from getting in trouble.
Course Chapters:
- Chapter 1: Agency – Fiduciary Duties and Ethical Behavior of License Holders
- The Canons of Professional Ethics and Conduct
- 531.1 – Fidelity
- The Fiduciary Relationship
- 531.2 – Integrity
- Acts of Commission and Omission
- 531.3 – Competency
- Building Geographic Competency
- Intermediary
- Multiple Offers
- Best Practices for Selection and Use of a Seller’s Disclosure Notice
- Broker’s Price Opinion (BPO)
- Copyrighted Surveys
- Chapter 2: Water and Mineral Rights
- Introduction
- Three Types of Water Sources and Their Owners
- Surface Water
- Diffused Surface Water
- Groundwater
- Surface Water Regulators and Regulations
- Watermasters
- Groundwater Regulators and Regulations
- Water and the Seller’s Disclosure Notice
- Water Right Issues That Require Reporting
- Mineral Rights
- Chapter 3: Ad Valorem Taxes and Valuation
- Property Taxes on the Rise
- The Central Appraisal District System
- Rate Proposals
- Protesting Property Taxes
- Property Tax Exemptions
- Paragraph 13 – Prorations
- Rollback Taxes
- In Conclusion
- Case Studies