Which entity must use the State of Texas promulgated forms?

The State of Texas promulgated forms are specifically designed for use by licensed real estate professionals when conducting real estate transactions. The correct answer, which indicates that a former real estate professional who owns a real estate firm must use these forms, highlights the ongoing requirement for compliance with regulations even after a professional's active status changes.

This entity would still adhere to the rules set forth by the Texas Real Estate Commission (TREC) as long as they are involved in the real estate business. Each promulgated form is created to ensure that transactions are conducted legally and uniformly, protecting all parties involved.

Buyers of residential property, property investors, and lessors of commercial space can engage in transactions without the necessity of using the promulgated forms, as they are not required to be licensed real estate professionals. Their transactions may rely on other forms or agreements that do not have the same stringent requirements as those promulgated by the state.