§ 440 Definitions
§ 440-A License Required for Real Estate Brokers and Salesmen
§ 440-B Licenses in Putnam County
§ 441 Application for License
§ 441-A License and Pocket Card
§ 441-B License Fees
§ 441-C Revocation and Suspension of Licenses
§ 441-D Salesman’S License Suspended by Revocation or Suspension of Employer’S License
§ 441-E Denial of License; Complaints; Notice of Hearing
§ 441-F Judicial Review
§ 442 Splitting Commissions
§ 442-A Compensation of Salesmen; Restrictions
§ 442-B Discontinuance or Change of Salesman’S Association; Report
§ 442-C Violations by Salesmen; Broker’S Responsibility
§ 442-D Actions for Commissions; License Prerequisite
§ 442-E Violations
§ 442-F Saving Clause
§ 442-G Nonresident Licensees
§ 442-H Rules of the Secretary of State
§ 442-I State Real Estate Board
§ 442-J Effect of Invalid Provision
§ 442-K Powers and Duties of the State Real Estate Board
§ 442-L After-the-Fact Referral Fees
§ 443 Disclosure Regarding Real Estate Agency Relationship; Form
§ 443-A Disclosure Obligations

Terms Used In New York Laws > Real Property > Article 12-A

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Associate real estate broker: means a licensed real estate broker who shall by choice elect to work under the name and supervision of another individual broker or another broker who is licensed under a partnership, trade name, limited liability company or corporation. See N.Y. Real Property Law 440
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Decedent: A deceased person.
  • Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
  • Executor: A male person named in a will to carry out the decedent
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • interest in real estate: shall include the sale of a business wherein the value of the real estate transferred as part of the business is not merely incidental to the transaction, and shall not include the assignment of a lease, and further, the transaction itself is not otherwise subject to regulation under state or federal laws governing the sale of securities. See N.Y. Real Property Law 440
  • Oath: A promise to tell the truth.
  • Office manager: means a licensed associate real estate broker who shall by choice elect to work as an office manager under the name and supervision of another individual broker or another broker who is licensed under a partnership, trade name, limited liability company or corporation. See N.Y. Real Property Law 440
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • real estate broker: means any person, firm, limited liability company or corporation, who, for another and for a fee, commission or other valuable consideration, lists for sale, sells, at auction or otherwise, exchanges, buys or rents, or offers or attempts to negotiate a sale, at auction or otherwise, exchange, purchase or rental of an estate or interest in real estate, or collects or offers or attempts to collect rent for the use of real estate, or negotiates or offers or attempts to negotiate, a loan secured or to be secured by a mortgage, other than a residential mortgage loan, as defined in section five hundred ninety of the banking law, or other incumbrance upon or transfer of real estate, or is engaged in the business of a tenant relocator, or who, notwithstanding any other provision of law, performs any of the above stated functions with respect to the resale of condominium property originally sold pursuant to the provisions of the general business law governing real estate syndication offerings. See N.Y. Real Property Law 440
  • Real estate salesman: means a person associated with a licensed real estate broker to list for sale, sell or offer for sale, at auction or otherwise, to buy or offer to buy or to negotiate the purchase or sale or exchange of real estate, or to negotiate a loan on real estate other than a mortgage loan as defined in section five hundred ninety of the banking law, or to lease or rent or offer to lease, rent or place for rent any real estate, or collects or offers or attempts to collect rent for the use of real estate for or in behalf of such real estate broker, or who, notwithstanding any other provision of law, performs any of the above stated functions with respect to the resale of a

    condominium property originally sold pursuant to the provisions of the general business law governing real estate syndication offerings. See N.Y. Real Property Law 440

  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.