Real Estate Glossary

Enforcement of license laws through reprimand and denial as well as the suspension and revocation of licenses

Any person who engages in the business of claiming, demanding, charging, receiving, collecting, or contracting for the collection of, a fee from a customer for furnishing information concerning the location and availability of real property, including apartment housing, which may be leased, rented, shared or sublet as a private dwelling, abode, or place of residence

Any person who, for a fee, arranges, conducts, coordinates, handles or causes meetings between a customer and the current owner or occupant of legally occupied real property, including apartment housing, who wishes to share that housing with one or more individuals as a private swelling, abode or place of residence, but it shall not apply to any person who for another and for a fee, commission or other valuable consideration, supervises, organizes, arranges, coordinates, handles or is otherwise in charge of or responsible for the relocation of commercial or residential tenants from buildings or structures that are to be demolished, remodeled or otherwise structurally altered

The main source of law for real estate licenses in New York

When an individual (the petitioner) asks a state court to review a decision or action of a New York State body or officer

A financial statement showing a person's assets liabilities and net worth.

When the final payment on a note is greater than the preceding normal installments the final installment is termed a balloon payment. An installment promissory note providing for the last payment to be much larger than any previous payment. By statute any payment more than twice the smallest payment is a balloon payment although in practice generally the term refers only to the last payment.

Molding used at the top of the baseboard.

Molding used at junction of baseboard and floor sometimes called a carpet strip.