Texas Real Estate State Practice Exam

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Prepare for the Texas Real Estate State Exam with comprehensive study materials. Engage in multiple choice questions and gain insights with in-depth explanations and examples. Ace your exam confidently!

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What term is used when two or more parties join together to create and operate a real estate investment?

Estate at will
Holdover Tenancy
Syndicate
Tenancy at Sufferance

The correct answer is: Syndicate

The term used when two or more parties join together to create and operate a real estate investment is referred to as a syndicate. A syndicate typically involves a group of investors pooling their resources to purchase and manage real estate projects, allowing them to share the risks and rewards associated with the investment. This cooperative approach provides individuals with the opportunity to invest in larger projects than they could afford on their own and allows for the sharing of expertise and capital among the members. In contrast, other terms associated with the options provided do not pertain to joint investment structures. An estate at will refers to a type of rental agreement that can be terminated at any time by either party. Holdover tenancy describes a situation where a tenant remains in the property after their lease has expired, without the landlord's consent. Tenancy at sufferance occurs similarly, where a tenant occupies the property without the landlord's consent after the lease has expired. Therefore, syndicate is the appropriate choice as it encompasses collaboration for investment purposes.