NY Disclosures, Escrow/Trust Funds & Key Numbers Cheat Sheet

New York · State License Law — free cheat sheet for the real estate licensing exam.

🏛️ State License Law 📍 New York

📋 The 1-minute cheat sheet

Sellers of residential 1-4 unit homes deliver a Property Condition Disclosure Statement (PCDS).
Client/escrow money must be held in a separate trust/escrow account — never commingled with the broker's funds.
Pre-license education: 77 hours; license term: 2 years.
NY is NOT a community property state — it is an equitable distribution state.
Agency disclosure is due at first substantive contact.
Lead-based paint disclosure applies to housing built before 1978 (federal rule).
Brokers must maintain records and may be audited by the DOS.

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Questions students ask

Is NY Disclosures, Escrow/Trust Funds & Key Numbers Cheat Sheet on the real estate exam?

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.

Is this cheat sheet free?

Yes — every page on CinnaPrep's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.

Does New York test this differently?

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.

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