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Pennsylvania · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 PennsylvaniaIn a Pennsylvania residential sale, the seller must generally deliver a Seller's Property Disclosure Statement to the buyer before the agreement of sale is signed, and the agency Consumer Notice must be given at first substantive contact. Earnest money and other entrusted funds are deposited into the broker's escrow/trust account and kept separate from the broker's own money; if a dispute arises over those funds, they remain in escrow until the dispute is resolved or proper release authorization is obtained. Because Pennsylvania is not a community-property state, ownership and transfer of marital real estate are governed by common-law and equitable-distribution principles rather than community-property rules.
Yes. State License Law is a scored domain on the Pennsylvania real estate licensing exam, and this topic appears in the state license-law portion.
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Pennsylvania applies its own license law on top of the national portion. This page covers the Pennsylvania rules specifically, which is what the state section of your exam tests.