Article 12a - Study guides, Class notes & Summaries

NYREI Important Terms question and answers 2023 updated Article 12A, Licensee: - correct answer Article 12A is part of the NY. State Real Property Law known as "Real Estate License Law." And it is the article that states the things that can and cannot. Be done with our license. Capital Gains Tax Exemption - correct answer Capital gains are profits from sale which are taxed. Taxpayer Relief Act, a law that says $250,000 of profit is tax-free (tax-exempt) for a single person and $500,000 for...

Article 12A: NYS Real Property Law - Answer- "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption - Answer- -profit from sale that is taxed - single person has first $250,000 tax free - married couple $500,000 tax free Property Condition Disclosure Statement - Answer- - 6 page statement seller mus...

The name of the statue that protects the public from unscrupulous salespersons and brokers is - Article 12 of the real property law A real esate brokers license term is - 2 years To become a real estate salesperson in new york one must - Find a sponsoring broker The end of a license term for a real estate person is - 2 years from issue date If a brokers license is revoked the salespersons license - Is suspended until the licensee finds another broker If a salespersons license is revoked t...

Article 12A: NYS Real Property Law "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption -profit from sale that is taxed - single person has first $250,000 tax free - married couple $500,000 tax free Property Condition Disclosure Statement - 6 page statement seller must fill out on condition of pro...

The name of the statue that protects the public from unscrupulous salespersons and brokers is - Article 12 of the real property law A real esate brokers license term is - 2 years To become a real estate salesperson in new york one must - Find a sponsoring broker The end of a license term for a real estate person is - 2 years from issue date If a brokers license is revoked the salespersons license - Is suspended until the licensee finds another broker If a salespersons license is r...

New York real estate exam 2024 The name of the statue that protects the public from unscrupulous salespersons and brokers is - Answer ️️ -Article 12 of the real property law A real esate brokers license term is - Answer ️️ -2 years To become a real estate salesperson in new york one must - Answer ️️ -Find a sponsoring broker The end of a license term for a real estate person is - Answer ️️ -2 years from issue date If a brokers license is revoked the salespersons license - ...

Who is responsible for the administration of licensing? - ANSWER Secretary of State Which article of real property law deals with licensees? - ANSWER Article 12A Which article of real property law deals with real estate transactions, such as zoning, subdivisions, easements, and the like? - ANSWER Article 9A Which article of real property is is a proceeding known as a "suit to Quiet Title"? - ANSWER Article 14 What does section 443 of Article 12A deal with? - ANSWER disclosure issue...

NYREI Exam Questions and Answers Latest Update 2024/2025 (100% Verified) Which article of real property law deals with real estate transactions, such as zoning, subdivisions, easements, and the like? Article 9A Which article of real property is is a proceeding known as a "suit to Quiet Title"? Article 14 What does section 443 of Article 12A deal with? disclosure issues Which federal agency is not involved with real estate? SEC Oksana was a broker in Russia, with a very poor understand...

NYS REAL ESTATE EXAM 2024 QUESTIONS AND ANSWERS NYS Dept of State - Answer ️️ -agency that licenses real estate agents/brokers Property law name - Answer ️️ -Article 12A Types of real estate licenses (3) - Answer ️️ -salesperson, associate broker, broker An associate broker... - Answer ️️ -has no broker powers A broker... - Answer ️️ -sponsors salespeople and associate brokers The salesperson's license is kept by... - Answer ️️ -the broker for whom the salesperson...

Who is responsible for the administration of licensing? - ANSWER Secretary of State Which article of real property law deals with licensees? - ANSWER Article 12A Which article of real property law deals with real estate transactions, such as zoning, subdivisions, easements, and the like? - ANSWER Article 9A Which article of real property is is a proceeding known as a "suit to Quiet Title"? - ANSWER Article 14 What does section 443 of Article 12A deal with? - ANSWER disclosure issue...