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A

Administrative Discipline

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

Entry link: Administrative Discipline

Apartment Information Vendor

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

Entry link: Apartment Information Vendor

Apartment Sharing Agent

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

Entry link: Apartment Sharing Agent

Article 12-A

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

Entry link: Article 12-A

Article 78 Proceeding

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

Entry link: Article 78 Proceeding

Associate Real Estate Broker

A real estate professional -- sometimes called a broker associate, broker-salesperson, or affiliate broker -- who has a broker's license but is working under a managing broker
Entry link: Associate Real Estate Broker

B

Balance Sheet

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

Entry link: Balance Sheet

Balloon Payment

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.

Entry link: Balloon Payment

Base and Meridian

Imaginary lines used by surveyors from which they find measure and describe the location of lands.

Entry link: Base and Meridian

Base Molding

Molding used at the top of the baseboard.

Entry link: Base Molding


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