§ 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 - Real Estate Brokers and Real Estate Salesmen

  • 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.
  • Fiduciary: A trustee, executor, or administrator.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Minority leader: See Floor Leaders
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • 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
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • 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

  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Student: shall mean any pupil under the age of twenty-one as of September first of the academic period being reported, who does not have a high school diploma and who is enrolled in a district school or pre-kindergarten program in a district school within the city school district. See N.Y. New York City Administrative Code 21-965
  • Subpoena: A command to a witness to appear and give testimony.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.