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New York · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 New YorkThe New York Department of State, through its Division of Licensing Services, enforces Real Property Law Article 12-A and may deny, suspend, or revoke a license for conduct such as fraud, misrepresentation, untrustworthiness, or incompetency. The DOS may also impose monetary fines and typically acts after notice and an administrative hearing. Common triggers for discipline include mishandling escrow funds, unlicensed activity, and improper commission-sharing with unlicensed persons.
Yes. State License Law is a scored domain on the New York real estate licensing exam, and this topic appears in the state license-law portion.
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New York applies its own license law on top of the national portion. This page covers the New York rules specifically, which is what the state section of your exam tests.