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03-03-2024
Business

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The TREC-promulgated contract forms are for optional use by real estate licensees. They are drafted by the Broker-Lawyer Committee, promulgated by the legislature, and used in both commercial and residential transactions. Which of the following statements is true about the TREC-promulgated contract forms?
1) They are for mandatory use by real estate licensees
2) They are drafted by the Texas Real Estate Commission
3) They are promulgated by the Texas Legislature
4) They are used only in commercial transactions

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