License Law and Regulations Flashcards
The Department of State is primarily responsible for issuing…
real estate licenses, pocket cards, and handing down disciplinary action. Article 12-A of the NYS Real Property Law outlines the roles/duties of the Department of State.
According to Article 12-A (NYS Real Property Law), the Attorney General shall…
prosecute criminal actions for violations of the Real Property Law.
The New York Court of Appeals is…
the highest court in New York State.
“Any person who violates any provision of this article shall be guilty of a misdemeanor. The commission of a single act prohibited by this article shall constitute a violation hereof. According to…
section 442-e of the NYS Real Property Law:
The Department of State may _______ __ ______ a real estate salesperson or broker’s license for__________ __ ___ ____ ________ __.
suspend or revoke
violations of the Real Property Law.
The DOS may also impose a fine not to exceed $1,000.
A real estate salesperson must be at least…
18 years old,
A real estate salespersons license is valid for…
2 years
Every 2 years, the salesperson must…
renew their license online through eAccessNY.
Before renewing a license the salesperson must…
complete 22.5-hours of Continuing Education.
If a real estate salesperson fails to renew their license within 2 years…
their license is considered expired.
The salesperson must retake the State exam and reapply for their license.
Have at least two years of experience as a real estate salesperson.
- Be at least 20 years of age.
- Complete the 45-hour NYS real estate broker’s course (120 hours of total coursework including the 75-hour real estate salespersons course).
- Pass the State real estate broker’s exam
A brokers license must be renewed every…
2 years.
Associate real estate brokers must fulfill the same requirements as a broker (they must…
obtain their brokers license), but their status in the firm is the same as that of a salesperson.
The Department of State issues
a real estate license and a pocket card.
The salesperson’s license is held with…
their sponsoring broker.
The salesperson must carry their…
pocket card at all times when doing business and show it on demand.
If a broker’s license is suspended or revoked…
each real estate salesperson working under that broker shall also have their licenses suspended.
In this case, the State deems the salesperson’s license as a ‘discontinuance of association with the broker being suspended’.
Attorneys admitted to the NY State Bar are exempt from obtaining a license if they…
represent a client.
If an attorney wants to employ salespersons, they then must…
obtain a broker’s license.
Public officers are exempt (from having a license) when…
performing official duties
Persons under the judgment or order of a court are…
exempt from needing a license.
According to section 175.25 of Article 12-A of the NY Real Property Law:
“All advertisements placed by a broker must indicate that …
the advertiser is a broker or give the name of the broker and his telephone number.
All advertisements placed by a broker which state that property is in the vicinity of a geographical area or territorial subdivision must indicate as part of such advertisement…
the name of the geographical area or territorial subdivision in which such property is actually located.”
Ads that do not contain this information are called…
blind ads. Blind ads are illegal in New York State.
According to Article 443-a of the NY Real Property Law, sellers and seller agents do not have to disclose the following facts when selling or leasing residential property:
1) Occupants who have AIDS or other illnesses not transmitted through occupancy.
2) Properties that were a site of death due to natural causes, accidents, suicide, homicide, crime and other reasons.
Brokers must maintain records of all transactions for at least…
3 years.
