Final answer:
Licensees in Texas must use contract forms prepared by the Joint Broker-Lawyer Committee and approved by the Texas Real Estate Commission, with certain exceptions for specialized transactions.
Step-by-step explanation:
Licensees must use the contract forms that are prepared by the Joint Broker-Lawyer Committee and approved by the Texas Real Estate Commission EXCEPT in certain cases. This requirement ensures that real estate transactions adhere to the established legal standards and are conducted in a uniform manner throughout the state of Texas.
Exceptions may apply when a contract requires legal expertise beyond standard transactions or when different forms serve specific, specialized purposes in a real estate deal. It is crucial for licensees to understand when they can and cannot use these prescribed forms to stay compliant with Texas regulations.