Article 12A: NYS Real Property Law - correct answer "Real Estate License Law"

- violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license

- all salespersons have license suspended

- after 1 year broker can apply to get license back



Capital Gains Tax Exemption - correct answer -profit from sale that is taxed

- single person has first $250,000 tax free

- married couple $500,000 tax free



Property Condition Disclosure Statement - correct answer - 6 page...
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